March 2013 Trade Gap is $38.8 Billion

The U.S. monthly international trade deficit decreased in March 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $43.6 billion (revised) in February to $38.8 billion in March as imports decreased more than exports. The previously published February deficit was $43.0 billion. The goods deficit decreased $4.6 billion from February to $56.1 billion in March; the services surplus increased $0.2 billion from February to $17.3 billion.trade_march

Exports
Exports of goods and services decreased $1.7 billion in March to $184.3 billion reflecting a decrease in exports of goods. Exports of services increased.
• The decrease in exports of goods reflected decreases in nearly all major categories. The largest decrease was in foods, feeds, and beverages.
• The increase in exports of services reflected increases in several categories. The largest increase was in travel.

Imports
Imports of goods and services decreased $6.5 billion in March to $223.1 billion mostly reflecting a decrease in imports of goods. Imports of services also decreased.
• The decrease in imports of goods reflected decreases in most major categories. The largest decrease was in consumer goods.
• The decrease in imports of services was more than accounted for by a decrease in other transportation, which includes freight and port services; increases in travel and passenger fares largely offset this decrease.

Goods by geographic area (not seasonally adjusted)
• The goods deficit with Canada decreased from $2.5 billion in February to $2.3 billion in March. Exports increased $2.8 billion to $26.0 billion, while imports increased $2.6 billion to $28.3 billion.
• The goods deficit with China decreased from $23.4 billion in February to $17.9 billion in March. Exports increased $0.1 billion to $9.4 billion, while imports decreased $5.4 billion to $27.3 billion.
• The goods deficit with Mexico increased from $4.3 billion in February to $5.3 billion in March. Exports increased $0.3 billion to $18.0 billion, while imports increased $1.3 billion to $23.2 billion.

To learn more about U.S. international trade in goods and services, read the full report.


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