U.S. exports are growing slowly – imports are shrinking significantly

Port of Los Angeles with shipping containers

U.S. exports are up 3.5 percent from the previous month.

(Photo: dpa)

Washington U.S. export growth slowed in April. Exports rose 3.5 percent to $ 252.6 billion from the previous month, according to the Commerce Department in Washington on Tuesday.

In March, this was enough for a 4.9 percent increase. Imports fell 3.4 percent to $ 339.7 billion after a 9.6 percent increase in the previous month.

This reduced the long-term deficit in the US trade balance. Imports were just $ 87.1 billion more than exports. In March, it was less than $ 108 billion. This indicates that foreign trade in the current second quarter is likely to contribute to the growth of the world’s largest economy for the first time in two years.

Former US President Donald Trump has repeatedly described the high deficit as a sign that his country is being snatched away by other countries – thus provoking trade conflicts, for example with China.

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However, this has not changed the huge trade deficit: by 2021, imports will surpass exports by $ 859 billion, a record level.

Further: Germany’s exports more than tripled in April