The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $60.3 billion in March, up $2.5 billion from $57.8 billion in February, revised.

Exports, Imports, and Balance 

March exports were $320.9 billion, $6.2 billion more than February exports. March imports were $381.2 billion, $8.7 billion more than February imports.

The March increase in the goods and services deficit reflected an increase in the goods deficit of $4.1 billion to $88.7 billion and an increase in the services surplus of $1.6 billion to $28.4 billion.

Year-to-date, the goods and services deficit decreased $211.2 billion, or 55.0 percent, from the same period in 2025. Exports increased $100.2 billion or 12.0 percent. Imports decreased $111.0 billion or 9.1 percent.

U.S. International Trade in Goods and Services Deficit

Deficit:

$60.3 Billion

+4.4%°

Exports:

$320.9 Billion

+2.0%°

Imports:

$381.2 Billion

+2.3%°


Next release: Tuesday, June 9, 2026

(°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes

Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, May 5, 2026

Three-Month Moving Averages

The average goods and services deficit decreased $4.2 billion to $57.6 billion for the three months ending in March.

  • Average exports increased $11.5 billion to $312.6 billion in March.
  • Average imports increased $7.3 billion to $370.2 billion in March.

Year-over-year, the average goods and services deficit decreased $70.4 billion from the three months ending in March 2025.

  • Average exports increased $33.4 billion from March 2025.
  • Average imports decreased $37.0 billion from March 2025.

Exports

Exports of goods increased $6.5 billion to $213.5 billion in March.

Exports of goods on a Census basis increased $6.2 billion.

  • Industrial supplies and materials increased $5.0 billion.
    • Crude oil increased $2.8 billion.
    • Other petroleum products increased $1.7 billion.
    • Fuel oil increased $1.6 billion.
    • Other precious metals decreased $1.6 billion.
  • Foods, feeds, and beverages increased $1.1 billion.
    • Soybeans increased $0.9 billion.
  • Consumer goods decreased $1.7 billion.

Net balance of payments adjustments increased $0.3 billion.

Exports of services decreased $0.3 billion to $107.4 billion in March.

  • Travel decreased $1.1 billion.
  • Transport increased $0.2 billion.
  • Financial services increased $0.1 billion.
  • Other business services increased $0.1 billion.

Imports 

Imports of goods increased $10.6 billion to $302.2 billion in March.

Imports of goods on a Census basis increased $10.2 billion.

  • Automotive vehicles, parts, and engines increased $3.6 billion.
    • Passenger cars increased $2.8 billion.
  • Consumer goods increased $2.4 billion.
  • Capital goods increased $2.1 billion.
    • Computer accessories increased $2.0 billion.
    • Computers decreased $2.3 billion.
  • Industrial supplies and materials increased $2.1 billion.

Net balance of payments adjustments increased $0.4 billion.

Imports of services decreased $1.9 billion to $79.0 billion in March.

  • Charges for the use of intellectual property decreased $1.0 billion.
  • Transport decreased $0.4 billion.
  • Travel decreased $0.4 billion.

Real Goods in 2017 Dollars – Census Basis 

The real goods deficit increased $5.7 billion, or 6.7 percent, to $90.8 billion in March, compared to a 4.7 percent increase in the nominal deficit.

  • Real exports of goods increased $1.9 billion, or 1.2 percent, to $163.0 billion, compared to a 3.0 percent increase in nominal exports.
  • Real imports of goods increased $7.6 billion, or 3.1 percent, to $253.8 billion, compared to a 3.5 percent increase in nominal imports.

Revisions

Revisions to February exports

  • Exports of goods were revised up $0.1 billion.
  • Exports of services were revised down $0.2 billion.

Revisions to February imports

  • Imports of goods were revised up $0.1 billion.
  • Imports of services were revised up $0.2 billion.

Goods by Selected Countries and Areas: Monthly – Census Basis

The March figures show surpluses, in billions of dollars, with Netherlands ($7.4), United Kingdom ($6.1), Hong Kong ($5.8), South and Central America ($5.0), Switzerland ($4.3), Australia ($2.2), Singapore ($1.9), Brazil ($1.4), and Belgium ($0.6). Deficits were recorded, in billions of dollars, with Taiwan ($20.6), Vietnam ($19.2), Mexico ($16.4), China ($14.0), European Union ($9.2), Germany ($5.0), South Korea ($4.8), Japan ($4.1), Malaysia ($4.0), India ($3.8), Canada ($3.6), Ireland ($2.9), Italy ($2.3), Saudi Arabia ($0.7), and Israel ($0.4).

  • The deficit with the European Union increased $4.1 billion to $9.2 billion in March. Exports decreased $0.3 billion to $37.2 billion and imports increased $3.8 billion to $46.4 billion.
  • The surplus with Switzerland decreased $3.5 billion to $4.3 billion in March. Exports decreased $3.9 billion to $8.2 billion and imports decreased $0.3 billion to $3.9 billion.
  • The deficit with South Korea decreased $2.9 billion to $4.8 billion in March. Exports increased $1.8 billion to $7.5 billion and imports decreased $1.0 billion to $12.2 billion.