The U.S. monthly international trade deficit decreased in March 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $57.7 billion in February (revised) to $49.0 billion in March, as exports increased and imports decreased. The previously published February deficit was $57.6 billion. The goods deficit decreased $7.5 billion in March to $69.5 billion. The services surplus increased $1.3 billion in March to $20.5 billion.

Exports

Exports of goods and services increased $4.2 billion, or 2.0 percent, in March to $208.5 billion. Exports of goods increased $3.7 billion and exports of services increased $0.4 billion.

• The increase in exports of goods mostly reflected increases in capital goods($1.9 billion), in foods, feeds, and beverages ($1.0 billion), and in industrial supplies and materials ($0.9 billion).
• The increase in exports of services mostly reflected increases in maintenance and repair services ($0.1 billion), in travel (for all purposes including education) ($0.1 billion), and in transport ($0.1 billion).

Imports

Imports of goods and services decreased $4.6 billion, or 1.8 percent, in March to $257.5 billion. Imports of goods decreased $3.7 billion and imports of services decreased $0.9 billion.

• The decrease in imports of goods mostly reflected decreases in capital goods ($1.5 billion), in consumer goods ($0.9 billion), and in industrial supplies and materials ($0.7 billion).
• The decrease in imports of services mostly reflected decreases in charges for the use of intellectual property ($0.9 billion) and in transport ($0.1 billion). Charges for the use of intellectual property for February included payments for the rights to broadcast the 2018 Winter Olympic Games.

For more information, read the full report.