Research >> Economics
Goods and Services Deficit Increased in March 2022
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The nation's international trade deficit in goods and services increased to $109.8 billion in March from $89.8 billion in February (revised), as imports increased more than exports. The nation's international trade deficit in goods and services increased to $109.8 billion in March from $89.8 billion in February (revised), as imports increased more than exports.
Exports, Imports, and Balance
March exports were $241.7 billion, $12.9 billion more than February exports. March imports were $351.5 billion, $32.9 billion more than February imports. The March increase in the goods and services deficit reflected an increase in the goods deficit of $20.4 billion to $128.1 billion and an increase in the services surplus of $0.4 billion to $18.3 billion. Year-to-date, the goods and services deficit increased $84.8 billion, or 41.5 percent, from the same period in 2021. Exports increased $104.5 billion or 17.7 percent. Imports increased $189.3 billion or 23.8 percent.
Three-Month Moving Averages
The average goods and services deficit increased $9.3 billion to $96.3 billion for the three months ending in March.
• Average exports increased $4.5 billion to $231.7 billion in March.
• Average imports increased $13.7 billion to $328.0 billion in March.
Year-over-year, the average goods and services deficit increased $28.3 billion from the three months ending in March 2021.
• Average exports increased $34.8 billion from March 2021.
• Average imports increased $63.1 billion from March 2021.
Posted: May 4, 2022 Wednesday 08:30 AM