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The Commerce Department released the trade balance data on Wednesday. The U.S. trade deficit increased 6.9% to $47.2 billion in April, from a deficit of 44.18 in March. That was the largest figure since April 2012. March’s figure was revised down to a deficit of $44.18 billion from -40.40 billion U.S. dollar.
Imports rose 1.2% in April to a record $240.6 billion from $237.8 billion in March. Exports declined 0.2% to $193.3 billion.
The trade gap with the European Union was the largest on record.
The trade gap with China jumped 16.3% to $27.3 billion in April from $20.4 billion in March.
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