The Census Bureau's report on International Trade in Goods and Services for March shows a steep, but expected drop in the trade deficit.

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Synopsis

  • March exports were $208.5 billion, $4.2 billion more than February exports.
  • March imports were $257.5 billion, $4.6 billion less than February imports.
  • The March decrease in the goods and services deficit reflected a decrease in the goods deficit of $7.5 billion to $69.5 billion and an increase in the services surplus of $1.3 billion to $20.5 billion.
  • Year-to-date, the goods and services deficit increased $25.5 billion, or 18.5 percent, from the same period in 2017. Exports increased $39.2 billion or 6.8 percent. Imports increased $64.7 billion or 9.1 percent.

GDP Impact

These numbers are for the first quarter and will have little or no impact on GDP either for the first of second quarter. The advance numbers came out before GDP and were reflected in the advance GDP estimate.

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