US Exports Rise in March Reduce Trade Deficit

The US trade deficit fell in March, as exports surged to the second highest level on record.

The Department of Commerce reported a deficit of $40.4bn in March, a 3.6% decline from February’s $41.9bn.

Strong exports of aircraft, automobiles and food and drink helped boost exports to $193.9bn. Exports to Canada, South Korea and Germany hit record levels.

Imports rose 1.1% thanks in part to growing demand for mobile phones, clothes and machinery.

Many economists are forecasting a decline in the trade deficit this year as export growth is expected to beat growth in imports.

In total, March exports were $3.9bn more than February exports of $190bn, while March imports were $2.5bn more than February imports of $231.8bn.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza