This site uses cookies to provide you with a better experience. For information on our Privacy and Cookie Policy, please visit this page. By continuing to use the site or closing this banner, you are agreeing to our terms of use. Close
Trade Events Center promotes your trade shows to worldwide
US trade deficit falls in March on strong exports
2014/5/6
The US trade deficit fell in March, as exports surged to the second highest level on record.
The Department of Commerce reported a deficit of $40.4bn in March, a 3.6% decline from February's $41.9bn.
Strong exports of aircraft, automobiles and food and drink helped boost exports to $193.9bn. Exports to Canada, South Korea and Germany hit record levels.
Imports rose 1.1% thanks in part to growing demand for mobile phones, clothes and machinery.
Many economists are forecasting a decline in the trade deficit this year as export growth is expected to beat growth in imports.
In total, March exports were $3.9bn more than February exports of $190bn, while March imports were $2.5bn more than February imports of $231.8bn.
Exports of services and non-petroleum goods hit a record high in March.
The three-month moving average of the trade deficit, which is designed to smooth out any monthly volatility, increased to $40.5bn in the three months to March, compared with $40bn in the previous three-month period.
February's deficit was revised down to $41.9bn from a previously reported $42.3bn.