The U.S. goods and services trade deficit decreased from $70.6 billion in February (revised) to $64.2 billion in March, as exports increased and imports decreased. The goods deficit decreased $6.4 billion to $86.6 billion, and the services surplus decreased less than $0.1 billion to $22.4 billion.
Exports of goods and services increased $5.3 billion, or 2.1 percent, in March to $256.2 billion. Exports of goods increased $5.2 billion, and exports of services increased $0.1 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($3.9 billion) and in automotive vehicles, parts, and engines ($0.7 billion).
- The increase in exports of services reflected increases in travel ($0.2 billion) and in other business services ($0.1 billion). A decrease in transport ($0.2 billion) partly offset the increases.
Imports of goods and services decreased $1.1 billion, or 0.3 percent, in March to $320.4 billion. Imports of goods decreased $1.2 billion, and imports of services increased $0.1 billion.
- The decrease in imports of goods reflected decreases in capital goods ($1.9 billion) and in industrial supplies and materials ($1.4 billion). An increase in consumer goods ($2.4 billion) partly offset the decreases.
- The increase in imports of services reflected an increase in travel ($0.7 billion). A decrease in transport ($0.6 billion) partly offset the increase.
Real, or inflation-adjusted, statistics are also available for trade in goods. The real goods deficit decreased 4.4 percent in March, compared to a 7.0 percent nominal decrease. Real exports of goods increased 3.5 percent, compared to a 3.0 percent nominal increase. Real imports of goods increased 0.3 percent, compared to a 0.5 percent nominal decrease.
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