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U.S. International Trade in Goods and Services – March 2015

Tue May 05 2015
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $51.4 billion in March, up $15.5 billion from $35.9 billion in February, revised. March exports were $187.8 billion, $1.6 billion more than February exports. March imports were $239.2 billion, $17.1 billion more than February imports.

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The March increase in the goods and services deficit reflected an increase in the goods deficit of $14.9 billion to $70.6 billion and a decrease in the services surplus of $0.6 billion to $19.2 billion.

Year-to-date, the goods and services deficit increased $6.4 billion, or 5.2 percent, from the same period in 2014. Exports decreased $11.7 billion or 2.0 percent. Imports decreased $5.3 billion or 0.8 percent.

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Exports of goods increased $1.5 billion to $127.1 billion in March.

Exports of goods on a Census basis increased $1.3 billion. Capital goods increased $1.5 billion (Civilian aircraft increased $0.5 billion, Civilian aircraft engines increased $0.2 billion, and Electric apparatus increased $0.2 billion). Net balance of payments adjustments increased $0.2 billion.

 Exports of services increased $0.2 billion to $60.8 billion in March.

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Imports of goods increased $16.4 billion to $197.6 billion in March.

Imports of goods on a Census basis increased $16.4 billion. Consumer goods increased $9.0 billion (Cell phones and other household goods increased $1.7 billion, Other textile apparel and household goods increased $1.3 billion, and Furniture, household goods, etc. increased $1.0 billion). Capital goods increased $4.0 billion. Automotive vehicles, parts, and engines increased $2.7 billion. Net balance of payments adjustments decreased $0.1 billion.

 Imports of services increased $0.8 billion to $41.6 billion in March.

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The March figures show surpluses, in billions of dollars, with South and Central America ($2.9), OPEC ($0.7), and Brazil ($0.4). Deficits were recorded, in billions of dollars, with China ($37.8), European Union ($11.0), Japan ($6.3), Germany ($5.6), Mexico ($4.8), South Korea ($2.6), Italy ($2.1), India ($2.0), France ($1.5), Canada ($1.4), United Kingdom ($0.2), and Saudi Arabia ($0.1).

  • The deficit with China increased $10.5 billion to $37.8 billion in March. Exports increased $0.4 billion to $9.3 billion and imports increased $10.9 billion to $47.1 billion.
  • The deficit with Japan increased $2.0 billion to $6.3 billion in March. Exports increased $0.2 billion to $5.6 billion and imports increased $2.2 billion to $11.9 billion.

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NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

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