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Tuesday, May 5, 2020 Services: Jeannine Aversa, (301) 278-9003 Goods: Mala Kline, (301) 763-2311 March 2020 Trade Gap is $44.4 Billion U.S. international trade in goods and services The U.S. monthly international trade deficit increased in March 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $39.8 billion in February (revised) to $44.4 billion in March, as exports decreased more than imports. The previously published February deficit was $39.9 billion. The goods deficit increased $4.6 billion in March to $65.6 billion. The services surplus decreased $0.1 billion in March to $21.2 billion. Monthly Goods and Services Trade Deficit January 2011–March 2020 Billion $ 70 60 50 40 30 20 10 0 2011 2012 2013 U.S. Bureau of Economic Analysis U.S. Census Bureau 2014 2015 2016 2017 2018 2019 2020 Seasonally adjusted Exports Exports of goods and services decreased $20.0 billion, or 9.6 percent, in March to $187.7 billion. Exports of goods decreased $9.2 billion and exports of services decreased $10.8 billion. • The decrease in exports of goods reflected decreases in industrial supplies and materials ($2.9 billion), in automotive vehicles, parts, and engines ($2.5 billion), and in capital goods ($2.0 billion). • The decrease in exports of services reflected decreases in travel ($7.5 billion) and in transport ($2.6 billion). Imports Imports of goods and services decreased $15.4 billion, or 6.2 percent, in March to $232.2 billion. Imports of goods decreased $4.7 billion and imports of services decreased $10.7 billion. • The decrease in imports of goods reflected decreases in consumer goods ($4.0 billion) and in automotive vehicles, parts, and engines ($2.7 billion). An increase in capital goods ($1.5 billion) partly offset the decreases. • The decrease in imports of services reflected decreases in travel ($7.7 billion) and in transport ($2.9 billion). For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, March 2020. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the May 5 news release, U.S. International Trade in Goods and Services, March 2020, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is June 4, 2020.
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