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In April, the trade gap widened to $40.3 billion from $40 billion in March. Exports fell 0.7 percent and imports declined 0.4 percent, said IHS Global Insight Chief U.S. Economist Nigel Gault in a recent report.

Exports and imports are trending higher, but the pace of growth is slowing after the bounce-back in second-half 2009, Gault said.

Foreign trade likely will be a drag on second-quarter growth, he predicts. Both exports and imports should rise, but imports are outpacing exports.

“In the coming months, exports will face headwinds from the strengthening of the dollar against the Euro,” Gault said.

Gross Domestic Product growth should exceed 4 percent in the second quarter before the economy slows in the second half, he predicts.