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U.S. Goods-Trade Gap Widens to $71.4 Billion on Import Increase

Published 03/05/2019, 13:45
Updated 03/05/2019, 15:04
© Bloomberg. The Soro Enshi container ship, operated by A.P. Moller-Maersk A/S, sails from Yangshan Deep Water Port in this aerial photograph taken in Shanghai, China, on Tuesday, July 10, 2018. China told companies to boost imports of goods from soybeans to seafood and automobiles from countries other than the U.S. after trade tensions between the world's two biggest economies escalated into a tariff war last week.

(Bloomberg) -- America’s merchandise-trade deficit widened in March for the first time in three months as an increase in imports exceeded the rise in exports.

The goods-trade gap grew to $71.4 billion from $70.9 billion in February, according to Commerce Department figures released on Friday, below economist estimates for the deficit to widen to $73 billion.

Goods imports increased by $2 billion to $211.7 billion in March from the previous month, while exports climbed by $1.4 billion to $140.3 billion, according to Commerce.

The report -- delayed a week by the government shutdown earlier this year -- follows figures last Friday showing that an overall narrowing trade deficit during the first quarter gave a boost to economic growth, amounting to 1.03 percentage point of the 3.2 percent expansion pace during the period.

© Bloomberg. The Soro Enshi container ship, operated by A.P. Moller-Maersk A/S, sails from Yangshan Deep Water Port in this aerial photograph taken in Shanghai, China, on Tuesday, July 10, 2018. China told companies to boost imports of goods from soybeans to seafood and automobiles from countries other than the U.S. after trade tensions between the world's two biggest economies escalated into a tariff war last week.

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