June 10, 2010 10:00 AM, EDT

Trade Deficit Widens in April

The U.S. trade deficit widened in April to the highest level in more than a year as exports declined, the Commerce Department said Thursday.

The 0.6% increase in the gap between imports and exports left the deficit at $40.3 billion, the most since December 2008.

Economists had projected the deficit to widen to $41 billion, Bloomberg reported.

Exports fell 0.7% to $148.8 billion, while imports declined 0.4%, to $189.1 billion.