2018 Economic Calendar
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International Trade in Goods  
Released On 5/30/2018 8:30:00 AM For Apr, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Balance$-68.0 B$-68.6 B$-71.0 B$-73.7 B to $-68.0 B$-68.2 B
Exports % change2.5 %3.2 %-0.5 %
Imports % change-2.1 %-1.5 %-0.5 %

Second-quarter net exports open up on the positive side, at a goods deficit of $68.2 billion in April vs $68.6 in March and far better than expectations which were calling for a much deeper $71.0 billion deficit.

But the mix of the results are less favorable as exports of goods fell 0.5 percent to $139.6 billion reflecting sharp slowing for vehicles and also capital goods that offset gains for industrial supplies and especially food products. The import side is more favorable, falling 0.5 percent to $207.8 billion after March's 1.5 percent decline with consumer goods falling very sharply, down 5.3 percent after March's 1.7 percent dip.

The decline in exports aside, today's results are positive and should give a lift to early estimates for second-quarter GDP.

Consensus Outlook
The goods deficit is expected to widen to a consensus $71.0 billion in April vs $68.3 billion in March (revised from an initial $68.0 billion). April's report will offer the first indications on second-quarter net exports and possible updates on tariff effects and the bilateral deficit with China.

The Census Bureau is now publishing an advance report on U.S. international trade in goods. The Bureau of Economic Analysis will incorporate these data into its estimates of exports and imports for the advance GDP estimates. This is expected to reduce the size of revisions to GDP growth in the second estimates.

Note that data in the advance goods report are accounted for on a census basis and can differ slightly from subsequent data in the international trade report where goods data are accounted for on a balance of payment basis to adjust for changes in ownership that can occur without goods passing into or out of the US.  Why Investors Care

2018 Release Schedule
Released On: 1/262/273/284/265/306/277/268/289/2710/2511/2812/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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