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(RTTNews) - With the value of imports jumping by much more than the value of exports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened significantly in the month of April.
The Commerce Department said the trade deficit surged to $74.6 billion in April from a downwardly revised $68.6 billion in March.
Economists had expected the deficit to widen to $76.1 billion from the $69.4 billion originally reported for the previous month.
The increase in the size of the trade deficit came as the value of imports jumped by 2.4 percent to $338.2 billion, while the value of exports climbed by 0.8 percent to $263.7 billion.
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