US Trade Deficit Narrows in March

U.S. trade gap fell 3.6 percent to $40.4 billion in March from $41.9 billion in February as exports rebounded to the second highest level on record supported by increase in shipments of gas, oil, commercial aircraft, cars and farm goods.
U.S. Bureau of Economic Analysis | anna@tradingeconomics.com 5/6/2014 2:04:42 PM
March exports were $3.9 billion more than February exports of $190.0 billion. March imports were $2.5 billion more than February imports of $231.8 billion.

In March, the goods deficit decreased $0.6 billion from February to $60.7 billion, and the services surplus increased $0.9 billion from February to $20.4 billion. Exports of goods increased $3.7 billion to $135.1 billion, and imports of goods increased $3.1 billion to $195.8 billion. Exports of services increased $0.2 billion to $58.8 billion, and imports of services decreased $0.7 billion to $38.4 billion.

The goods and services deficit increased $3.8 billion from March 2013 to March 2014. Exports were up $9.2 billion, or 5.0 percent, and imports were up $13.0 billion, or 5.9 percent.

The February to March increase in exports of goods reflected increases in capital goods ($2.1 billion); industrial supplies and materials ($0.9 billion); automotive vehicles, parts, and engines ($0.6 billion); other goods ($0.3 billion); and foods, feeds, and beverages ($0.1 billion). A decrease occurred in consumer goods ($0.3 billion).

The February to March increase in imports of goods reflected increases in consumer goods ($1.2 billion); foods, feeds, and beverages ($1.0 billion); capital goods ($0.9 billion); and other goods ($0.8 billion). A decrease occurred in industrial supplies and materials ($0.5 billion). Automotive vehicles, parts, and engines were virtually unchanged.

The March 2013 to March 2014 increase in exports of goods reflected increases in capital goods ($2.8 billion); consumer goods ($1.5 billion); foods, feeds, and beverages ($1.5 billion); and automotive vehicles, parts, and engines ($0.6 billion). Decreases occurred in industrial supplies and materials ($0.6 billion) and other goods ($0.2 billion).

The March 2013 to March 2014 increase in imports of goods reflected increases in consumer goods ($4.1 billion);  capital goods ($3.2 billion); automotive vehicles, parts, and engines ($1.6 billion); foods, feeds, and beverages ($1.0 billion); industrial supplies and materials ($0.8 billion); and other goods ($0.1 billion).

US Trade Deficit Narrows in March