March Trade Deficit Shrinks To Smallest Since October

The US Trade Balance shrank to $43.7 billion in March, from an upward revised $43.8 billion in February, marking the month’s deficit the smallest since October and less than the conesnus estimate of $44.5 billion. Imports declined by $1.7 billion, or 0.7%, to $234.7 billion, while exports dipped fractionally more, or 0.9%, even as the recently weaker dollar did little to boost US exports. Notably, the US trade deficit with China was $31.4 billion, followed by the European Union at $10 billion. The trade deficit excluding petroleum stood at $35.82b in March.
The details: the deficit decreased in March 2017 according to the U. S. Bureau of Economic Analysis and the U. S. Census Bureau. The deficit decreased from $43.8 billion in February (revised) to $43.7 billion in March, as imports decreased more than exports. The previously published February deficit was $43.6 billion. The goods deficit increased $0.4 billion in March to $65.5 billion. The services surplus increased $0.4 billion in March to $21.8 billion.
The March decrease in the goods and services deficit reflected an increase in the goods deficit of $0.4 billion to $65.5 billion and an increase in the services surplus of $0.4 billion to $21.8 billion.

This post was published at Zero Hedge on May 4, 2017.