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Goods and Services Deficit Increased in March 2021
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The nation's international trade deficit in goods and services increased to $74.4 billion in March from $70.5 billion in February (revised), as imports increased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February, revised.
Exports, Imports, and Balance
March exports were $200.0 billion, $12.4 billion more than February exports. March imports were $274.5 billion, $16.4 billion more than February imports. The March increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $17.1 billion. Year-to-date, the goods and services deficit increased $83.2 billion, or 64.2 percent, from the same period in 2020. Exports decreased $21.0 billion or 3.5 percent. Imports increased $62.2 billion or 8.5 percent.
Three-Month Moving Averages
The average goods and services deficit increased $2.5 billion to $70.9 billion for the three months ending in March.
• Average exports increased $3.3 billion to $193.3 billion in March.
• Average imports increased $5.8 billion to $264.2 billion in March.
Year-over-year, the average goods and services deficit increased $27.7 billion from the three months ending in March 2020.
• Average exports decreased $7.0 billion from March 2020.
• Average imports increased $20.7 billion from March 2020.
Posted: May 4, 2021 Tuesday 08:30 AM