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May 7, 2018

U.S. international trade deficit drops nearly $9 billion in March

The U.S. Census Bureau announced that the country's goods and services trade deficit $49.0 billion in March, down $8.8 billion from $57.7 billion in February.

March exports were $208.5 billion, $4.2 billion more than February exports. March imports were $257.5 billion, $4.6 billion less than February imports.

The March decrease in the goods and services deficit reflected a decrease in the goods deficit of $7.5 billion to $69.5 billion and an increase in the services surplus of $1.3 billion to $20.5 billion.

The March figures show surpluses, in billions of dollars, with Hong Kong ($3.3), South and Central America ($3.1), United Kingdom ($1.2), Brazil ($0.8), and Singapore ($0.3).

Deficits were recorded, in billions of dollars, with China ($35.4), European Union ($12.4), Mexico ($7.0), Japan ($5.9), Germany ($5.0), Italy ($2.3), France ($1.5), OPEC ($1.4), India ($1.4), Taiwan ($1.3), South Korea ($1.2), Saudi Arabia ($0.3), and Canada ($0.2).