SHARE:
Press Release
U.S. international trade in goods and services - March 2016
Economic analysis from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis
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 $40.4 billion in March, down $6.5 billion from $47.0 billion in February, revised. March exports were $176.6 billion, $1.5 billion less than February exports. March imports were $217.1 billion, $8.1 billion less than February imports.
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 $40.4 billion in March, down $6.5 billion from $47.0 billion in February, revised. March exports were $176.6 billion, $1.5 billion less than February exports. March imports were $217.1 billion, $8.1 billion less than February imports.
The March decrease in the goods and services deficit reflected a decrease in the goods deficit of $6.0 billion to $58.5 billion and an increase in the services surplus of $0.5 billion to $18.1 billion.
Year-to-date, the goods and services deficit decreased $1.0 billion, or 0.8 percent, from the same period in 2015. Exports decreased $30.5 billion or 5.4 percent. Imports decreased $31.6 billion or 4.5 percent.
Goods and Services Three-Month Moving Averages
The average goods and services deficit decreased $1.4 billion to $44.4 billion for the three months ending in March.
- Average exports of goods and services decreased $1.2 billion to $177.0 billion in March.
- Average imports of goods and services decreased $2.6 billion to $221.5 billion in March.
Year-over-year, the average goods and services deficit decreased $0.3 billion from the three months ending in March 2015.
- Average exports of goods and services decreased $10.2 billion from March 2015.
- Average imports of goods and services decreased $10.5 billion from March 2015.
Exports
Exports of goods decreased $1.8 billion to $116.8 billion in March.
Exports of goods on a Census basis decreased $1.7 billion.
- Consumer goods decreased $1.6 billion.
- o Pharmaceutical preparations decreased $0.8 billion.
- o Gem diamonds decreased $0.7 billion.
- Industrial supplies and materials decreased $0.8 billion.
- o Other petroleum products decreased $0.5 billion.
- Capital goods increased $1.0 billion.
- o Civilian aircraft increased $1.3 billion.
Net balance of payments adjustments decreased $0.1 billion.
Exports of services increased $0.3 billion to $59.8 billion in March.
- Travel (for all purposes including education) increased $0.2 billion.
Imports
Imports of goods decreased $7.9 billion to $175.3 billion in March.
Imports of goods on a Census basis decreased $7.8 billion.
- Consumer goods decreased $5.1 billion.
- o Toys, games, and sporting goods decreased $1.1 billion.
- o Other textile apparel and household goods decreased $0.6 billion. o Cotton apparel and household goods decreased $0.6 billion.
- Capital goods decreased $1.6 billion.
- o Computer accessories decreased $0.8 billion.
Net balance of payments adjustments decreased less than $0.1 billion.
Imports of services decreased $0.2 billion to $41.7 billion in March.
- Transport, which includes freight and port services and passenger fares, decreased $0.4 billion.
Real Goods in 2009 Dollars – Census Basis
The real goods deficit decreased $5.8 billion to $57.4 billion in March.
- Real exports of goods decreased $1.7 billion to $117.0 billion.
- Real imports of goods decreased $7.4 billion to $174.4 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis
The March figures show surpluses, in billions of dollars, with South and Central America ($3.2), OPEC ($0.7), United Kingdom ($0.5), and Saudi Arabia ($0.1). Deficits were recorded, in billions of dollars, with China ($26.0), European Union ($11.1), Germany ($5.9), Japan ($5.9), Mexico ($5.2), South Korea ($3.0), Italy ($2.4), India ($1.7), France ($0.9), Brazil ($0.2), and Canada ($0.1).
- The deficit with China decreased $6.2 billion to $26.0 billion in March. Exports increased $0.1 billion to $8.5 billion and imports decreased $6.1 billion to $34.4 billion.
- The balance with the United Kingdom shifted from a deficit of $0.5 billion to a surplus of $0.5 billion in March. Exports increased $0.6 billion to $4.8 billion and imports decreased $0.3 billion to $4.4 billion.
- The surplus with Saudi Arabia decreased $1.2 billion to $0.1 billion in March. Exports decreased $0.9 billion to $1.4 billion and imports increased $0.3 billion to $1.3 billion.
NOTES:
All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in Exhibits 1-20b of this release. For information on data sources, definitions, revision procedures, and scheduled release dates through December 2016, see the information section on page A-1 of this release. The next release is June 3, 2016.
For definitions of goods on a balance of payments basis, goods on a Census basis, and net balance of payments adjustments, see the information section on page A-1 of this release.
