The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.0 billion in March, up $0.7 billion from $49.3 billion in February, revised.
March exports were $212.0 billion, $2.1 billion more than February exports. March imports were $262.0 billion, $2.8 billion more than February imports.
The March increase in the goods and services deficit reflected an increase in the goods deficit of $0.5 billion to $72.4 billion and a decrease in the services surplus of $0.2 billion to $22.4 billion.
Year-to-date, the goods and services deficit decreased $5.8 billion, or 3.7 percent, from the same period in 2018. Exports increased $14.0 billion or 2.3 percent. Imports increased $8.2 billion or 1.1 percent.
Exports (Exhibits 3, 6, and 7)
Exports of goods increased $2.0 billion to $141.7 billion in March.
Exports of goods on a Census basis increased $2.1 billion.
Exports of services increased less than $0.1 billion to $70.3 billion in March.
Imports (Exhibits 4, 6, and 8)
Imports of goods increased $2.6 billion to $214.1 billion in March.
Imports of goods on a Census basis increased $2.6 billion.
Imports of services increased $0.2 billion to $47.8 billion in March.
Goods by Selected Countries and Areas: Census Basis (Exhibit 19)
The March figures show surpluses, in billions of dollars, with South and Central America ($4.2), Hong Kong ($2.4), Brazil ($0.9), OPEC ($0.7), Saudi Arabia ($0.3), and Singapore ($0.2). Deficits were recorded, in billions of dollars, with China ($28.3), European Union ($15.8), Mexico ($8.6), Japan ($6.1), Germany ($5.7), Italy ($2.8), Canada ($2.1), Taiwan ($2.0), South Korea ($1.8), India ($1.8), France ($1.7), and United Kingdom ($0.2).