March Trade Deficit Fell to the Lowest in Six Months

March exports of $114.7 billion and imports of $176.7 billion resulted in a goods and services deficit of $62.0 billion, reported by the Department of Commerce today. March deficit was $3.6 billion less than the revised $65.6 billion in February.

  • In March, the goods deficit decreased $3.1 billion from the previous month to $66.7 billion, and the services surplus increased $0.5 billion to $4.7 billion.
  • Exports of goods increased $1.7 billion to $82.1 billion, and imports of goods decreased $1.4 billion to $148.8 billion.
  • Total goods and services deficit was up $8.3 billion from March 2005. 
  • Exports were up $11.9 billion, or 11.6 percent, and imports were up $20.2 billion, or 12.9 percent.
  • Services imports increased $1.4 billion from last year.
  • The US trade deficit with China deepened to $15.6B ($13.8B in Feb'06) in March. US ran a total deficit of $201.6B with China in 2005.
  • Trade deficit with EU $10.1B from $8.2B in Feb'06
  • Total trade deficit with the Pacific Rim Countries was $25.7B while it rose to $8B with the OPEC countries from $7.3B in Feb.
  • The March figures showed surpluses with Hong Kong $1.0B, Australia $0.7B, Singapore $0.5B, and Egypt $0.2B
  • Imports of advanced technology products jumped to $25.3B and exports were at  $22.9B in March resulting in a deficit of $2.5B.

 

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