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U.S. Trade Deficit Shrinks 1.2% in April to $55.9B as Crude Oil Exports Surge 60%

GateNews
Commodities
According to the U.S. Commerce Department announced Tuesday, April trade deficit in goods and services declined 1.2% month-over-month to $55.9 billion, beating market expectations of $56.2 billion. Total exports rose 2.6% to a record high, led by a 60% surge in crude oil exports as Middle East supply disruptions boosted international prices. Simultaneously, imports grew 2% driven by AI data center construction, with computer, semiconductor, and telecommunications equipment purchases increasing. The higher energy export revenues partially offset import pressures from artificial intelligence infrastructure expansion.
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