US Trade Deficit Expands in March

The United States witnessed a notable rise in its goods and services trade deficit, which escalated by 14% from the previous month to $140.5 billion in March, according to the latest report from the Census Bureau and the Bureau of Economic Analysis (BEA).

Exports and Imports Show Varied Trends

While exports saw a modest increase of 0.2% or $0.5 billion from February, reaching $278.5 billion, imports surged by 4.4% or $17.8 billion, totaling $419 billion for the month.

Annual Comparison Highlights Significant Shifts

On an annual basis, the trade deficit ballooned by 92.6% or $189.6 billion. This dramatic rise was fueled by a 23.3% increase in imports, amounting to $230.7 billion, alongside a 5.2% rise in exports, which added $41.1 billion to the total.