Research >> Economics
Goods and Services Deficit decreased in March 2024
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $69.4 billion in March, down $0.1 billion from $69.5 billion in February, revised.
Exports, Imports, and Balance
March exports were $257.6 billion, $5.3 billion less than February exports. March imports were $327.0 billion, $5.4 billion less than February imports.
The March decrease in the goods and services deficit reflected an increase in the goods deficit of $0.8 billion to $92.5 billion and an increase in the services surplus of $0.9 billion to $23.1 billion.
Year-to-date, the goods and services deficit increased $6.5 billion, or 3.2 percent, from the same period in 2023. Exports increased $9.1 billion or 1.2 percent. Imports increased $15.6 billion or 1.6 percent.
Three-Month Moving Averages
The average goods and services deficit increased $1.7 billion to $68.8 billion for the three months ending in March.
• Average exports increased $0.3 billion to $259.2 billion in March.
• Average imports increased $2.0 billion to $328.1 billion in March.
Year-over-year, the average goods and services deficit increased $2.2 billion from the three months ending in March 2023.
• Average exports increased $3.0 billion from March 2023.
• Average imports increased $5.2 billion from March 2023.
Posted: May 2, 2024 Thursday 08:30 AM