by Calculated Risk on 5/11/2011 08:40:00 AM
Wednesday, May 11, 2011
Trade Deficit increased to $48.2 billion in March
The Department of Commerce reports:
[T]otal March exports of $172.7 billion and imports of $220.8 billion resulted in a goods and services deficit of $48.2 billion, up from $45.4 billion in February, revised. March exports were $7.7 billion more than February exports of $165.0 billion. March imports were $10.4 billion more than February imports of $210.4 billion.
![U.S. Trade Exports Imports](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQ5z4OQimgx-CSV7gW3DyCxJE_RNZltLwRqpikzGwOaA2BpkP0ZEpTun3SqoA6IYc04pmICmhBwEGavrtb-AZmfcgJjCv6yg3zsm4RZLAzwryFkLxW9K9cTJpWqRmJ2zBF-ShcPQ/s320/TradeBalanceMar2011.jpg)
The first graph shows the monthly U.S. exports and imports in dollars through March 2011.
Both imports and exports increased in March (seasonally adjusted). Exports are well above the pre-recession peak, but imports are now increasing at a faster rate - mostly because of oil prices.
The second graph shows the U.S. trade deficit, with and without petroleum, through March.
![U.S. Trade Deficit](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQXRb9ZXgytQr2LSzDZ9Bj3U1yBqk51potEnGDlMhqUls0qCFlpPTH-T1CsadrT4VaS4GNT1rUA0BfP0ytoR3Xvwj3c58dVmeIsa2a_ikZJezCl3euVxx9YvE-UukKvzxU7C1nIw/s320/TradeDeficitMar2011.jpg)
The petroleum deficit increased sharply in March as both the quantity and price increased - prices averaged $93.76 per barrel in March, up from $87.17 in February. Prices will be even higher in April.
The trade deficit was larger than the expected $47 billion.