Deficit Widens as Imports Increase More Than Exports

The U.S. international trade deficit increased in March, rising to $51.4 billion, up from $35.9 billion in February. The $1.6 billion increase in exports was not enough to offset the $17.1 billion increase in imports.

The rise in exports was largely composed of a $700 million dollar increase in civilian aircraft and aircraft engines.

Imports were driven by higher demand for consumer goods, which increased by $9 billion and capital goods, which increased by $4 billion.

The goods deficit increased $14.9 billion to $70.6 billion, while the services surplus decreased $0.6 billion to $19.2 billion.

Since March 2014, the goods and services deficit has increased 5.2 percent. Exports decreased $11.7 billion (2 percent) and imports decreased $5.3 billion (0.8 percent).