Trade Gap Grew in April on Oil Imports
The U.S. trade deficit widened in April 2008 as the surge in oil prices spurred imports to a record, overshadowing the biggest gain in exports in four years.
“The gap grew 7.8% to $60.9 billion, more than forecast and the most since March 2007,” stated the US Commerce Department. Except for petroleum, the shortfall was little changed.