Trade Deficit Narrowed by $6.4B in March

Washington, DC, May 4, 2023-The goods and services deficit was $64.2 billion in March, down $6.4 billion from $70.6 billion in February, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

March exports were $256.2 billion, $5.3 billion more than February exports. March imports were $320.4 billion, $1.1 billion less than February imports.

The March decrease in the goods and services deficit reflected a decrease in the goods deficit of $6.4 billion to $86.6 billion and a decrease in the services surplus of less than $0.1 billion to $22.4 billion.

Year-to-date, the goods and services deficit decreased $77.6 billion, or 27.6%, from the same period in 2022. Exports increased $61.4 billion or 8.7 percent. Imports decreased $16.2 billion or 1.6%.