March Sees a Sharp Rise in US Trade Deficit

The United States witnessed a notable 14% increase in its goods and services trade deficit in March, reaching $140.5 billion, as reported by the Census Bureau and the Bureau of Economic Analysis (BEA) on Tuesday.

Exports and Imports: A Closer Look

Exports saw a modest rise of 0.2%, or $0.5 billion, from the previous month, totaling $278.5 billion. Conversely, imports experienced a significant jump of 4.4%, or $17.8 billion, soaring to $419 billion.

Yearly Comparison Highlights

On an annual basis, the trade deficit expanded dramatically by 92.6%, or $189.6 billion. This surge was driven by a 23.3% increase in imports, amounting to $230.7 billion, and a 5.2% rise in exports, adding $41.1 billion to the total.