The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Wednesday that the US trade deficit rose $2.8 billion in March.
March exports of $172.7 billion and imports of $220.8 billion resulted in a goods and services deficit of $48.2 billion compared to $45.4 billion in February. While exports in March were $7.7 billion more than in February, March imports were $10.4 billion more than February imports of $210.4 billion.
Additionally, the goods and services deficit increased $8.7 billion from March 2010 to March 2011. Exports were up $22.4 billion, or 14.9 percent, and imports were up $31.1 billion, or 16.4 percent.
As for Canada, Statistics Canada reported Wednesday that Canada's trade surplus increased from $356 million in February to $627 million in March as exports rose 3.5 percent and imports edged up 2.8 percent.
Higher imports of automotive products drove a 3.2 percent month-on-month increase in imports-automotive imports from the US grew 1.9 percent in March.