June 8, 2012 10:20 AM, EDT

U.S. Trade Deficit Narrows in April

The U.S. trade deficit shrank by 4.9% in April as a drop in imports more than offset the first exports decline in five months, the Commerce Department said Friday.

The gap between imports and exports fell to $50.1 billion, from a revised $52.6 billion in March that was higher than originally reported.

Economists had projected a $49.5 billion trade gap, Bloomberg reported.

Imports decreased 1.7% to $233 billion, while exports declined 0.8% to $182.9 billion.