The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February, revised.
March exports were $200.0 billion, $12.4 billion more than February exports. March imports were $274.5 billion, $16.4 billion more than February imports.
The March increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $17.1 billion.
Year-to-date, the goods and services deficit increased $83.2 billion, or 64.2 percent, from the same period in 2020. Exports decreased $21.0 billion or 3.5 percent. Imports increased $62.2 billion or 8.5 percent.
The March figures show surpluses, in billions of dollars, with South and Central America ($3.6), Hong Kong ($2.9), Brazil ($1.0), Singapore ($0.6), and United Kingdom ($0.1).
Deficits were recorded, in billions of dollars, with China ($36.9), European Union ($16.9), Mexico ($8.4), Germany ($5.5), Japan ($5.1), Canada ($3.1), Italy ($2.9), Taiwan ($2.6), India ($2.2), South Korea ($2.1), France ($1.5) and Saudi Arabia (less than $0.1).