The trade deficit in the US narrowed to a four-month low of $87.1 billion in April of 2022 from a record of $107.7 billion in March and below market forecasts of a $89.5 billion gap. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas, other petroleum products, soybeans, civilian aircraft, travel and transport. Imports declined 3.4% to $339.7 billion, due to lower purchases of textile apparel and household goods, toys, games, and sporting goods, pharmaceutical preparations, industrial supplies and materials, finished metal shapes, capital goods, computers. The deficit with China decreased $8.5 billion to $34.9 billion, with imports falling by $10.1 billion, the most in seven years as China was under a covid lockdown. The shortfall with Mexico widened $1.7 billion to $11.5 billion. The gap with Russia continued to narrow to $2 billion from $2.6 billion.
