US Trade Deficit Expands in March

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

Exports and Imports on the Rise

Exports saw a modest growth of 0.2%, adding $0.5 billion to reach $278.5 billion, while imports surged by 4.4%, an increase of $17.8 billion, totaling $419 billion for the month.

Year-over-Year Growth Highlights

Comparing year-over-year figures, the trade deficit ballooned by 92.6%, or $189.6 billion, with imports climbing 23.3% ($230.7 billion) and exports growing by 5.2% ($41.1 billion).