Tuesday, May 5, 2015

Deficit Widens as Imports Increase More Than Exports

The U.S. international trade deficit increased in March, rising to $51.4 billion, up from $35.9 billion in February. The $1.6 billion increase in exports was not enough to offset the $17.1 billion increase in imports.

The rise in exports was largely composed of a $700 million dollar increase in civilian aircraft and aircraft engines.

Imports were driven by higher demand for consumer goods, which increased by $9.0 billion and capital goods, which increased by $4.0 billion.

The goods deficit increased $14.9 billion to $70.6 billion, while the services surplus decreased $0.6 billion to $19.2 billion.

Since March 2014, the goods and services deficit has increased 5.2%. Exports decreased $11.7 billion (2.0%) and imports decreased $5.3 billion (0.8%).

Read the BEA release here

No comments:

Post a Comment

Please read our comment policy before making a comment.