The trade balance reports from US and Canada for April were released a while ago. Trade deficit for March declined in the US from around $45 billion to $39.9 billion, which was revised to -$39.8 billion. The deficit increased by nearly $5 billion in April, but right now, the trade balance is skewed due to the lock-down and the disruption in the supply lines deform the real picture. Below are the trade reports from North America:

US Trade Report for March 2020

• US trade balance for the month March $-44.4 billion versus -$44.2 billion estimate
• prior month revised to $-39.8 billion from $-39.9 billion previously reported
• US goods deficit $-65.6 billion
• US services surplus plus $21.18 billion
• US March exports -9.6% versus February’s -0.3%
• US imports -6.2% versus February’s -2.5%
• US March exports $187.75 billion versus $207.75 billion in February
• US imports $232.16 billion versus $247.56 billion in February
• capital goods imports $53.2 billion versus February’s $51.71 billion
• US – China merchandise trade deficit $11.83 billion 1st February deficit of $16 billion
• US – OPEC March trade surplus $1.75 billion versus February surplus of $1.05 billion

Canadian International Merchandise Trade Report for March 2020

• Canada’s merchandise trade balance comes in at C$-1.41 billion versus C$-2.5 billion
• the prior month was C$-0.98 billion
• Canada’s March imports C$47.67 billion which was down 3.5% from February’s C$49.42 billion (revised from C$49.32 billion)
• Canada’s March exports C$46.26 billion down -4.7% from February’s C$48.52 billion (revised from C$48.34 billion)