U.S. International Trade Balance Widened in March | ABA Banking Journal

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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $74.4 billion in March, up 5.6% or $3.9 billion from $70.5 billion in February, revised.

The March increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $17.1 billion.

March exports were $200.0 billion, 6.6% or $12.4 billion more than February exports. March imports were $274.5 billion, 6.3% or $16.4 billion higher than February imports.

The average goods and services deficit increased $2.5 billion to $70.9 billion for the three months ending in March. Year-over-year, the average goods and services deficit increased $27.7 billion from the three months ending in March 2020.

Read the Census/BEA release.