As the economy recovers, strong U.S. domestic demand drives imports up, the U.S. Department of Commerce announced Tuesday (4) March goods and services trade deficit further expanded to $74.4 billion, higher than the revised previous value of $70.5 billion, and then write a new record high.
The Commerce Department reported that U.S. imports rose 6.3% in March to $274.5 billion, a record high, and exports rose 6.6% to $200 billion, also the highest in more than a year.
Among them, the goods trade deficit grew in March revised to $91.6 billion, climbing to an all-time high, and the services trade surplus fell to $17.1 billion, the lowest since August 2012.
As of the first three months of this year, the U.S. trade deficit came to a total of $212.8 billion, an increase of 64.2% over the same period last year.
In addition, the U.S.-China trade deficit increased by $6.7 billion to $36.9 billion in March, and China remains the largest U.S. trade deficit country to date.
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