by Calculated Risk on 5/09/2019 08:49:00 AM

From the Department of Commerce reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.0 billion in March, up $0.7 billion from $49.3 billion in February, revised.

March exports were $212.0 billion, $2.1 billion more than February exports. March imports were $262.0 billion, $2.8 billion more than February imports.

Click on graph for larger image.

Exports and imports increased in March.

Exports are 28% above the pre-recession peak and up 1% compared to March 2018; imports are 13% above the pre-recession peak, and up 2% compared to March 2018.

In general, trade had been picking up, although both imports and exports have moved mostly sideways recently.

The second graph shows the U.S. trade deficit, with and without petroleum.

The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Oil imports averaged $53.10 per barrel in March, up from $46.89 in February, and down from $54.00 in March 2018.

The trade deficit with China decreased to $20.7 billion in March, from $25.9 billion in March 2018.