US Trade Deficit Expands in March

The United States witnessed a notable increase in its goods and services trade deficit, which escalated by 14% from the previous month to reach $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

During the reported month, exports saw a modest rise of 0.2%, equivalent to $0.5 billion, bringing the total to $278.5 billion. In contrast, imports experienced a more significant surge of 4.4%, or $17.8 billion, culminating in $419 billion.

Annual Comparison Highlights Dramatic Changes

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