Tuesday, May 04, 2021

Trade Deficit Increased to $74.4 Billion in March

by Calculated Risk on 5/04/2021 08:38:00 AM

From the Department of Commerce reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February, revised.

March exports were $200.0 billion, $12.4 billion more than February exports. March imports were $274.5 billion, $16.4 billion more than February imports.
emphasis added
U.S. Trade Exports Imports Click on graph for larger image.

Both exports and imports increased in March.

Exports are up 8.1% compared to March 2020; imports are up 18.1% compared to March 2020.

Both imports and exports decreased sharply due to COVID-19, and have now bounced back (imports much more than exports),

The second graph shows the U.S. trade deficit, with and without petroleum.

U.S. Trade Deficit The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Note that net, imports and exports of petroleum products are close to zero.

The trade deficit with China increased to $27.7 billion in March, from $11.8 billion in March 2020.