World Trade Month – May 2023
Explore Key Statistics on U.S. International Trade
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World Trade Week, which occurs during the third full week of May, was established in 1935 by President Roosevelt and is recognized annually (since 1948) by presidential proclamation. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $64.2 billion in March, down $6.4 billion from $70.6 billion in February, revised.
Exports, Imports, and Balance March exports were $256.2 billion, $5.3 billion more than February exports. March imports were $320.4 billion, $1.1 billion less than February imports. 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.
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.
Three-Month Moving Averages – The average goods and services deficit decreased $1.0 billion to $67.8 billion for the three months ending in March.
• Average exports increased $2.4 billion to $255.0 billion in March.
• Average imports increased $1.4 billion to $322.8 billion in March.
Year-over-year, the average goods and services deficit decreased $25.9 billion from the three months ending in March 2022.
Article and charts available at the U.S. Census Bureau.