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Goods and Services Deficit Continues to Grow in March

Mike Robuck
posted on May 4, 2021

On Tuesday, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $74.4 billion in March, which was up $3.9 billion from $70.5 billion in February, revised.

March exports were $200 billion, which were $12.4 billion more than February exports. March imports were $274.5 billion, $16.4 billion more than February imports.

The March increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $17.1 billion.

Year-to-date, the goods and services deficit increased $83.2 billion, or 64.2%, from the same period a year ago. Exports decreased $21.0 billion, or 3.5%, while imports increased $62.2 billion (8.5%)

The goods and services deficit was $71.1 billion in February, up $3.3 billion from $67.8 billion in January, revised.

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