The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced Tuesday that the goods and services trade deficit narrowed to $55.9 billion in April 2026, down $0.7 billion from a revised $56.6 billion in March.
Key Drivers in April Trade Data
Exports of goods increased by $8.7 billion to $221.3 billion. Capital goods rose $4.0 billion, led by computers up $2.5 billion and civilian aircraft up $1.0 billion. Industrial supplies and materials increased $2.5 billion, driven by crude oil up $6.4 billion, fuel oil up $1.3 billion, and other petroleum products up $1.0 billion. Consumer goods exports grew by $1.7 billion.
Services exports fell $0.4 billion to $105.8 billion, with declines in travel, transport, and maintenance and repair services.
Imports of goods rose $6.4 billion to $304.9 billion. Capital goods increased $7.0 billion, including computers up $2.2 billion, semiconductors up $1.7 billion, and telecommunications equipment up $1.6 billion. Imports of services increased by $1.3 billion to $78.0 billion, led by transport, travel, and insurance services.
Year-to-date through April, the goods and services deficit decreased by $213.5 billion, or 49.1%, from the same period in 2025. Exports increased $128.2 billion, or 11.3%, while imports decreased $85.3 billion, or 5.5%.
Country-Specific Balances
The April goods deficit with China narrowed by $2.6 billion to $12.0 billion. The surplus with South and Central America widened by $2.6 billion to $7.8 billion. The surplus with the United Kingdom narrowed from $3.8 billion to $2.6 billion.
In the first quarter of 2026, the balance with the European Union shifted to a $9.2 billion surplus from a $3.0 billion deficit in the fourth quarter of 2025. The surplus with Hong Kong increased to $15.5 billion, while the deficit with Taiwan widened to $59.1 billion.
Annual Revisions Released
Tuesday’s report incorporated annual revisions to goods and services trade statistics. Goods data were revised beginning with 2021, and services data beginning with 1999. The revisions generally did not alter the overall trend in the annual deficit.
