The U.S. goods and services (trade) deficit was $50.0 billion in March, up $0.7 billion from $49.3…
The U.S. goods and services (trade) deficit was $50.0 billion in March, up $0.7 billion from $49.3 billion in February, revised, according to government analyses.
March exports were $212.0 billion, $2.1 billion more than February exports. March imports were $262.0 billion, $2.8 billion more than February imports.
The March increase in the goods and services deficit reflected an increase in the goods deficit of $0.5 billion to $72.4 billion and a decrease in the services surplus of $0.2 billion to $22.4 billion.
Year-to-date, the goods and services deficit decreased $5.8 billion, or 3.7 percent, from the same period in 2018. Exports increased $14.0 billion or 2.3 percent. Imports increased $8.2 billion or 1.1 percent.
One bright point:
However, the U.S. trade deficit with China fell to a three-year low during March. The deficit with China decreased $1.9 billion to $28.3 billion in March. Exports increased $1.4 billion to $10.5 billion and imports decreased $0.5 billion to $38.8 billion.
The deficit with the European Union, on the other hand, increased $3.4 billion to $15.8 billion in March. Exports decreased $1.4 billion to $27.8 billion and imports increased $2.0 billion to $43.6 billion.
The balance with Canada shifted from a surplus of $0.5 billion to a deficit of $2.1 billion in March. Exports decreased $0.1 billion to $25.3 billion and imports increased $2.6 billion to $27.5 billion.