Research >> Economics
Goods and Services Deficit Increased in March 2020
The nation's international trade deficit in goods and services increased to $44.4 billion in March from $39.8 billion in February (revised), as exports decreased more than imports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $44.4 billion in March, up $4.6 billion from $39.8 billion in February, revised.
Exports, Imports, and Balance
March exports were $187.7 billion, $20.0 billion less than February exports. March imports were $232.2 billion, $15.4 billion less than February imports. The March increase in the goods and services deficit reflected an increase in the goods deficit of $4.6 billion to $65.6 billion and a decrease in the services surplus of $0.1 billion to $21.2 billion. Year-to-date, the goods and services deficit decreased $28.1 billion, or 17.8 percent, from the same period in 2019. Exports decreased $21.7 billion or 3.5 percent. Imports decreased $49.7 billion or 6.4 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $1.4 billion to $43.2 billion for the three months ending in March.
• Average exports decreased $7.2 billion to $201.3 billion in March.
• Average imports decreased $8.6 billion to $244.5 billion in March.
Year-over-year, the average goods and services deficit decreased $9.4 billion from the three months ending in March 2019.
• Average exports decreased $7.2 billion from March 2019.
• Average imports decreased $16.6 billion from March 2019.
Posted: May 5, 2020 Tuesday 08:30 AM