Trade Deficit Narrowed in March by $6.5 Billion

Washington, DC, May 4, 2016—The goods and services deficit was $40.4 billion in March, down $6.5 billion from $47.0 billion in February, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced through the Department of Commerce.

March exports were $176.6 billion, $1.5 billion less than February exports.

March imports were $217.1 billion, $8.1 billion less than February imports.

The March decrease in the goods and services deficit reflected a decrease in the goods deficit of $6.0 billion to $58.5 billion and an increase in the services surplus of $0.5 billion to $18.1 billion.

Year-to-date, the goods and services deficit decreased $1.0 billion, or 0.8%, from the same period in 2015. Exports decreased $30.5 billion or 5.4%. Imports decreased $31.6 billion or 4.5%.