(RTTNews) - Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April.
The Commerce Department said the U.S. trade deficit narrowed to $61.6 billion in April from a revised $138.3 billion in March.
Economists had expected the trade deficit to shrink to $94.0 billion from the $140.5 billion originally reported for the previous month.
The significantly smaller trade deficit came as the value of imports plummeted by 16.3 percent to $351.0 billion, while the value of exports jumped by 3.0 percent to $289.4 billion.
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