US trade deficit falls 9.1% in March to $64.2 billion

By Ovunc Kutlu

ISTANBUL (AA) — The US trade deficit fell $6.4 billion, or 9.1%, to $64.2 billion in March, according to data released Thursday by the Commerce Department's Census Bureau.

The expectation for the figure was to come in at $63.3 billion, while the February figure was revised to $70.6 billion from $70.5 billion, according to the figures.

Exports in March totaled $256.2 billion, which were up $5.3 billion more than February exports, while imports in March were $320.4 billion -- $1.1 billion less than imports in February.

"The March decrease in the goods and services deficit reflected a decrease in the goods deficit of $6.4 billion to $86.6 billion and a decrease in the services surplus of less than $0.1 billion to $22.4 billion," the Census Bureau said in a statement.

"Year-to-date, the goods and services deficit decreased $77.6 billion, or 27.6 percent, from the same period in 2022. Exports increased $61.4 billion or 8.7 percent. Imports decreased $16.2 billion or 1.6 percent," according to the statement.