Trade Deficit Up as Exports, Imports Both Rise

The U.S. trade deficit in goods and services rose 1.4 percent in March, according to trade statistics released May 9 by the Department of Commerce. The monthly deficit of $50.0 billion reflected a 1.0 percent increase in exports to $212.0 billion and a 1.1 percent rise in imports to $262.0 billion. For the year to date the deficit was down 3.7 percent from the same period in 2018 as a 2.3 percent increase in exports outpaced a 1.1 percent increase in imports.

The deficit in goods trade edged up 0.7 percent to $72.4 billion in March. Imports of goods rose 1.2 percent to $214.1 billion, including a $1.4 billion increase in crude oil; a $1.0 billion increase in foods, feeds, and beverages; and a $500 million increase in organic chemicals. Exports of goods were up 1.4 percent to $141.7 billion, including increases of $800 million in foods, feeds, and beverages; $400 million in natural gas liquids; and $300 million each in fuel oil, metallurgical grade coal, and other petroleum products.

The services surplus slipped 0.9 percent to $22.4 billion. Imports were up 0.4 percent to $47.8 billion while exports rose less than 0.1 percent to $70.3 billion.

Country/region	Deficit	% Change	Surplus	% Change
China	$28.3 billion	-6.0
European Union	$15.8 billion	+27.4
Mexico	$8.6 billion	+11.7
Japan	$6.1 billion	-9.0
Germany	$5.7 billion	+3.6
Italy	$2.8 billion	0
Canada	$2.1 billion	Shift from $0.4 billion surplus
Taiwan	$2.0 billion	+33.3
South Korea	$1.8 billion	-25.0
India	$1.8 billion	-18.2
France	$1.7 billion	-22.7
United Kingdom	$0.2 billion	Shift from $0.9 billion surplus
South/Central America			$4.2 billion	+13.5
Hong Kong			$2.4 billion	-14.3
Brazil			$0.9 billion	+50.0
Saudi Arabia			$0.3 billion	Shift from $0.3 billion deficit
Singapore			$0.2 billion	-50.0

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