WASHINGTON -- The U.S. trade deficit shrank in April, but only because a big drop in imports offset the first decline in U.S. exports in five months.
The Commerce Department said Friday the deficit shrank 4.9 percent to $50.1 billion.
U.S. exports, which hit a record the previous month, fell 0.8 percent to $182.9 billion. Imports, which set a record in March, dropped even faster, 1.7 percent to $233 billion.
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