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March 2023 Press Highlights All values in billions of dollars. Goods and services monthly BOP series began with January 1992 statistics. Goods and Services (BOP Basis, seasonally adjusted) March 2023 February 2023 Percent Change from Prior Month -64.2 -70.6 -9.1 -21.4 October 2022 - November 2022 Exports 256.2 250.8 2.1 3.6 December 2022 - January 2023 Imports 320.4 321.5 -0.3 -1.6 January 2023 - February 2023 Balance -86.6 -93.0 -6.9 -15.8 October 2022 - November 2022 Exports 174.3 169.1 3.1 6.0 December 2022 - January 2023 Imports 260.9 262.1 -0.5 -2.2 January 2023 - February 2023 March 2023 February 2023 Dollar Change from Prior Month Balance -64.2 -70.6 6.4 16.5 October 2022 - November 2022 Exports 256.2 250.8 5.3 9.0 December 2022 - January 2023 Imports 320.4 321.5 -1.1 -5.2 January 2023 - February 2023 Balance -86.6 -93.0 6.4 15.6 October 2022 - November 2022 Exports 174.3 169.1 5.2 10.0 December 2022 - January 2023 Imports 260.9 262.1 -1.2 -5.8 January 2023 - February 2023 Goods and Services Balance Larger Increase or Decrease by Percent Change / When it Occurred Goods (BOP Basis) Larger Increase or Decrease by Dollar Change / When it Occurred Goods and Services Goods (BOP Basis) * March exports of services ($81.8 billion) were the highest on record. Goods (Census Basis, seasonally adjusted) Balance * The March petroleum surplus ($6.8 billion) was the highest on record.(1) Imports * March imports of industrial supplies and materials ($57.9 billion) were the lowest since August 2021 ($56.4 billion). * March petroleum imports ($19.8 billion) were the lowest since October 2021 ($19.5 billion). Real Dollar Basis (Chained 2012 Dollars, seasonally adjusted) Exports * March real dollar exports of petroleum ($27.6 billion) were the highest on record, since the series began in 1994. Imports * March real dollar imports of capital goods ($73.1 billion) were the lowest since February 2022 ($73.0 billion). Country and Other Highlights (Census Basis, not seasonally adjusted) Balance * The March deficit with Mexico ($13.6 billion) was the highest on record. * The March deficit with China ($16.6 billion) was the lowest since March 2020 ($11.7 billion). Exports * March exports to the European Union ($35.0 billion) were the highest on record. * March exports to Netherlands ($7.8 billion) were the highest on record. * March exports to Germany ($7.5 billion) were the highest on record. Imports * March imports from Mexico ($42.8 billion) were the highest on record. * The March quantity of crude oil imports (199.3 million barrels) was the highest since August 2019 (199.7 million barrels). (1) Based on the current definition of the petroleum series which was established in 1978. NOTE: Based on the May 4, 2023, U.S. International Trade in Goods and Services, March 2023 report, released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.
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