The US Commerce Department said on Wednesday that the trade deficit increased 23 percent to $74.6 billion.
March’s revised data showed that the trade deficit narrowed to $60.6 billion from $64.2 billion, according to the pre-revision data.
Exports fell to $249 billion last April, compared to $258.2 billion last March.
While imports rose to $323.6 billion in April, compared to $318.8 billion in March.
Trade did not contribute to the economy’s annual growth rate of 1.3 percent in the first quarter, after it contributed to an increase in gross domestic product for three consecutive quarters.
The International Monetary Fund had slightly raised its forecast for US economic growth for the year 2023, while noting that a slowing economy could lead to a slight increase in unemployment in 2024.
“The US economy has proven its resilience” in the face of more tightening monetary and fiscal policy, said IMF Managing Director Kristalina Georgieva in a press conference shortly after the updated figures were published.
In a statement, the International Monetary Fund expected real GDP growth in the United States to increase by 1.7 percent this year, up from the 1.6 percent expected earlier this year, before slowing to 1 percent in 2024.
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