The United States’ trade deficit expanded in March, indicating increased strain on the external balance as imports continued to grow faster than exports. According to data from the U.S. Census Bureau and the Bureau of Economic Analysis, the goods and services deficit increased by 4.4% to $60.3 billion, compared with a revised $57.8 billion in February.
Exports rose by $6.2 billion to $320.9 billion, largely driven by stronger shipments of industrial supplies, particularly crude oil and petroleum products. However, imports grew at a faster pace, climbing $8.7 billion to $381.2 billion, fueled by increased demand for automobiles, consumer goods, and capital equipment.
The widening gap was mainly driven by a $4.1 billion rise in the goods deficit, which reached $88.7 billion, while the services surplus saw a small increase of $1.6 billion, bringing it to $28.4 billion.
Exports of industrial supplies increased significantly, led by a $2.8 billion rise in crude oil shipments alone. Agricultural products, including soybeans, also recorded growth. In contrast, services exports fell slightly, mainly due to lower earnings from travel-related services.
Imports were lifted by strong domestic demand, with passenger imports increasing by $2.8 billion. Additional growth came from consumer goods and computer accessories, both of which posted significant rises.
On a year‑to‑date basis, the U.S. trade deficit has narrowed sharply, falling 55% compared with the same period in 2025, as exports grew by 12% while imports declined by more than 9%. By country, the U.S. continued to post sizable trade deficits with major manufacturing hubs such as Taiwan, Vietnam, and China, while maintaining surpluses with markets including the Netherlands and the United Kingdom.
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