INSIGHTS
- In April 2023, the US trade deficit rose to $96.8 billion, a $14.1 billion increase from March, as exports dropped and imports increased, the US Census Bureau reported.
- Wholesale inventories slightly declined to $914.9 billion, a 6.2 per cent increase compared to April 2022.
- Conversely, retail inventories rose by 7.7 per cent from April 2022.
The US recorded a higher trade deficit in April 2023, according to advance estimates released by the US Census Bureau. The deficit stood at $96.8 billion, up $14.1 billion from March’s figure of $82.7 billion. Exports fell by $9.5 billion, bringing the total to $163.3 billion. At the same time, imports rose by $4.5 billion to a total of $260 billion.
In terms of inventory statistics, the Census Bureau reported mixed results for April. Wholesale inventories, adjusted for seasonal fluctuations and trading day differences but not price changes, decreased slightly by 0.2 per cent to $914.9 billion from the previous month. However, when compared to the same month last year, wholesale inventories saw a rise of 6.2 per cent, the US Census Bureau said in a press release.
The Bureau also reported a slight increase in retail inventories for April. Adjusted for seasonal variations and trading day differences, but not price changes, retail inventories were estimated at $772.3 billion, marking a 0.2 per cent increase from March. Compared to April 2022, retail inventories saw a healthy growth of 7.7 per cent.
Source : fibre2fashion
