Research >> Economics
Goods and Services Deficit Decreased in March 2014
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The Nation’s international trade deficit in goods and services decreased to $40.4 billion in March from $41.9 billion in February (revised), as exports increased more than imports.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total March exports of $193.9 billion and imports of $234.3 billion resulted in a goods and services deficit of $40.4 billion, down from $41.9 billion in February, revised. 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.
Posted: May 6, 2014 Tuesday 08:30 AM