U.S. trade deficit widens in March as imports increase

• March International Trade in Goods and Services: -$74.4B vs. -$74.0B consensus and -$70.5B prior (revised from -$71.1B).
• Exports: $200.0B, up 6.6%.
• Imports: $274.5B, up 6.3%.
• The March increase in the goods and services deficit reflected an increase in the goods deficit of $3.6B to $91.6B and a decrease in the services surplus of $0.3B to $17.1B.
• YTD, the goods and services deficit increased $83.2B, or 64.2% from the same period in  2020, with exports falling 3.5% and imports rising 8.5%.