Market Updates
Trade Deficit Held Steady In March Near 10-month Low
Brian Turner
02 May, 2024
Washington, D.C.
The overall goods and service trade deficit was nearly unchanged in March, the Bureau of Economic Analysis reported Thursday.
Exports declined 2% from the previous month to $257.6 billion, and imports decreased 1.6% to $327.0 billion, resulting in a trade deficit of $69.4 billion.
Exports of goods decreased $5.1 billion to $171.3 billion and services fell $0.2 billion to $86.4 billion in March, after sales of civilian aircraft, travel services, and petroleum products fell.
Imports of goods decreased $4.3 billion to $263.8 billion, and services fell $1.1 billion to $63.2 billion in March, amid the decline in demand for passenger cars, pharmaceuticals, home goods, and travel services.
The deficit with China increased from $2.2 billion to $24.1 billion in March. Exports decreased $0.5 billion to $12.7 billion, and imports increased $1.7 billion to $36.8 billion.
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