The monthly U.S. trade deficit in goods and services rose 4.3 percent from February to March as imports and exports both saw additional gains.
Imports of $381.2 billion in March were up 2.3 percent from February, and the U.S. saw a record value of imports from Mexico, Vietnam, South Korea, Thailand, and Malaysia. Imports of goods climbed 3.6 percent to $302.2 billion, with increases of $2.8 billion for passenger cars, $2.1 billion for industrial supplies and materials, and $2.0 billion for computer accessories along with a $2.3 billion decrease for computers. Services imports declined 2.3 percent to $79.0 billion.
Exports were up 2.0 percent to a record-high $320.9 billion in March. Exports of goods also hit a record, growing 3.1 percent to $213.5 billion, with increases of $2.8 billion for crude oil, $1.7 billion for other petroleum products, and $1.6 billion for fuel oil along with a $1.7 billion decrease for consumer goods. Services exports slipped 0.3 percent to $107.4 billion.
The monthly U.S. trade deficit increased from $57.3 billion in February to $60.3 billion in March. The deficit in goods trade was up 4.8 percent to $88.7 billion while the services trade surplus rose 6.0 percent to $28.4 billion.
Year-to-date, the trade deficit in March was down 55.0 percent from a year earlier as imports fell 9.1 percent and exports increased 12.0 percent.
For the month of March, trade deficits and surpluses with major trading partners were as follows. Deficits with Vietnam, Thailand, and Malaysia, and the surplus with the Netherlands, all registered all-time highs.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
Taiwan
|
$20.6 billion
|
-2.4
|
|
|
|
Vietnam
|
$19.2 billion
|
+16.4
|
|
|
|
Mexico
|
$16.4 billion
|
-2.4
|
|
|
|
China
|
$14.0 billion
|
+6.9
|
|
|
|
European Union
|
$9.2 billion
|
+80.4
|
|
|
|
Germany
|
$5.0 billion
|
+51.5
|
|
|
|
South Korea
|
$4.8 billion
|
-36.8
|
|
|
|
Japan
|
$4.1 billion
|
-12.8
|
|
|
|
Malaysia
|
$4.0 billion
|
0
|
|
|
|
India
|
$3.8 billion
|
+8.6
|
|
|
|
Canada
|
$3.6 billion
|
+414.3
|
|
|
|
Ireland
|
$2.9 billion
|
+3.6
|
|
|
|
Italy
|
$2.3 billion
|
+27.8
|
|
|
|
Saudi Arabia
|
$0.7 billion
|
Change from $0.2 billion surplus
|
|
|
|
Israel
|
$0.4 billion
|
-50.0
|
|
|
|
Netherlands
|
|
|
$7.4 billion
|
+8.8
|
|
United Kingdom
|
|
|
$6.1 billion
|
+8.9
|
|
Hong Kong
|
|
|
$5.8 billion
|
-12.1
|
|
South/Central America
|
|
|
$5.0 billion
|
+31.6
|
|
Switzerland
|
|
|
$4.3 billion
|
-44.9
|
|
Australia
|
|
|
$2.2 billion
|
+144.4
|
|
Singapore
|
|
|
$1.9 billion
|
-34.5
|
|
Brazil
|
|
|
$1.4 billion
|
0
|
|
Belgium
|
|
|
$0.6 billion
|
-25.0
|
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