The US trade deficit narrowed in March on the back of rising exports and imports. The deficit fell 3,6% to $40,38 billion from $41,9 billion the previous month (revised down from $42,3 billion in the first estimate), the Commerce Department reported. Analysts expected a fall to 40,2 billion.
Exports rose 2,1% to $193,91 billion, the largest increase since June, while imports rose 1,1% to $234,29 billion, the sharpest growth since September. Compared to March 2013, exports are up by 5% and imports by 5,9%.
It should be noted that exports of services have risen to 51,81 billion dollars, the highest ever. Oil imports fell by 1,07 billion to 30,01 billion, the lowest since December.
As regards relations with commercial partners, exports to Canada grew by 17% to their highest ever, while imports rose by 15,8%. Exports to China rose by 9,6%, while imports increased by 1,6%. Imports from the European Union jumped by 20,1%, while exports to the EU rose by 17,2%.
