US Trade Deficit at 6-1/2-Year High

The goods and services deficit widened to USD 51.4 billion in March from a revised USD 35.9 billion in February. It is the highest shortfall since October of 2008, as the end of a dispute at the West Coast ports lead to a surge in imports.
US Census Bureau | Joana Taborda | 5/5/2015 1:48:47 PM
March imports surged 7.71 percent to USD 239.2 billion. Imports of goods increased USD 16.4 billion, driven by purchases of cell phones and other household goods (+USD1.7 billion); other textile apparel and household goods (+USD1.3 billion); furniture, household goods (+USD1.0 billion); capital goods (+4.0 billion); automotive vehicles, parts, and engines (+USD 2.7 billion).

Imports of services increased USD 0.8 billion to USD 41.6 billion in March. Transport rose USD 0.6 billion and travel (for all purposes including education) went up USD 0.1 billion.

Exports increased 0.88 percent to USD 187.8 billion in March. Sales of goods went up USD 1.5 billion to USD 127.1 billion, driven by capital goods (+USD 1.5 billion); civilian aircraft (+USD 0.5 billion); civilian aircraft engines (+USD 0.2 billion) and electric apparatus (+USD 0.2 billion).

Exports of services increased USD 0.2 billion to USD 60.8 billion. Transport, which includes freight and port services and passenger fares edged up USD 0.1 billion while travel (for all purposes including education) shrank USD 0.1 billion.

Year-to-date, the goods and services deficit increased 5.2 percent from the same period in 2014. Exports decreased 2.0 percent and imports went down 0.8 percent.

US Trade Deficit at 6-1/2-Year High