US Goods-Trade Gap Shrinks Most Since 2009 as Imports Drop (1)

The US merchandise-trade deficit shrank in April by the most since 2009 as imports fell amid lockdowns in China while exports increased to a record.

The shortfall narrowed by 15.9% to $105.9 billion last month, following a record level in March, Commerce Department data showed Friday. The figures, which aren’t adjusted for inflation, compared with a median estimate for a gap of $114.9 billion in a Bloomberg survey of economists.

Aggressive lockdowns by the Chinese government to curb the spread of Covid-19 have complicated the near-term trade picture, with the measures -- coupled with Russia’s war in Ukraine -- ...