The US Census Bureau and US Bureau of Economic Analysis announced today that the goods and services deficit was $64.2 billion in March, down $6.4 billion from $70.6 billion in February, revised.
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 percent, from the same period in 2022. Exports increased $61.4 billion or 8.7 percent. Imports decreased $16.2 billion or 1.6 percent
The March figures show surpluses, in billions of dollars, with South and Central America ($5.7), Netherlands ($4.0), Belgium ($2.1), Australia ($1.7), Hong Kong ($1.6), United Kingdom ($1.2), and Brazil ($1.1).
Deficits were recorded, in billions of dollars, with China ($22.9), European Union ($15.6), Mexico ($11.6), Canada ($7.7), Vietnam ($7.5), Germany ($6.3), Japan ($5.9), Ireland ($5.7), Italy ($4.0), South Korea ($3.6), Taiwan ($3.6), India ($3.1), Malaysia ($2.8), Switzerland ($2.1), France ($0.9), Israel ($0.5), Saudi Arabia ($0.4), and Singapore ($0.2).