By Austen Hufford and Anthony DeBarros

Americans imported more goods and services from abroad in April, another sign businesses and consumers remain resilient despite rising interest rates, while exports decreased.

Businesses brought in more cars, cellphones and supplies while bringing in less oil. U.S. companies shipped less oil and drugs outside the country.

The trade figures aren't adjusted for inflation and so reflect changes in demand and price. Here are the takeaways from Wednesday's Commerce Department report on U.S. import and export trends in April.

-Imports rose 1.5% to a seasonally adjusted $323.6 billion. Automotive vehicles, parts and engines increased by $2.0 billion and industrial supplies increased $1.9 billion. Nonmonteary gold and other metal products drove the increase.

-Cellphones and other household goods accounted for the bulk of the increase in consumer-goods imports. Imports of services, including transportation and travel, decreased slightly.

-Exports fell 3.6% to $249 billion. Industrial supplies and materials shipments decreased $6.1 billion, including a $2.1 billion drop in crude oil. Consumer-goods exports decreased $1.7 billion, including less shipments of pharmaceutical preparations, diamonds and jewelry. The U.S. exported more soybeans, rice and frozen fruit juices and fewer semiconductors and aircraft.

-Exports of services were nearly flat in April. Travel to the U.S. increased, but financial services decreased.

-The goods and services trade deficit was $74.6 billion in April, compared with $60.6 billion in March. The gap shows the U.S. imports more goods and services than it exports.

-Through April this year, the goods and services deficit decreased 23.9% from the same period in 2022, the Commerce Department said.

Write to Austen Hufford at austen.hufford@wsj.com and Anthony DeBarros at anthony.debarros@wsj.com

(END) Dow Jones Newswires

June 07, 2023 09:21 ET (13:21 GMT)

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