With imports and exports both falling, the Commerce Department released a report on Thursday showing that the U.S. trade deficit was little changed in the month of March.
The Commerce Department said the trade deficit narrowed to $43.7 billion in March from a revised $43.8 billion in February.
The trade deficit had been expected to widen to $44.5 billion from the $43.6 billion originally reported for the previous month.
The report said the value of imports dropped by 0.7 percent to $234.7 billion in March from $236.4 billion in February.
Imports of capital goods and crude oil and other petroleum products showed notable decreases, while imports of passenger cars saw a significant increase.
Meanwhile, the Commerce Department said the value of exports fell by 0.9 percent to $191.0 billion in March from $192.7 billion in February.
While exports of industrial supplies and materials and passenger cars saw substantial decreases, exports of civilian aircraft engines and telecom equipment increased.
The report also said the goods deficit widened to $65.5 billion in March from $65.2 billion in February, while the services surplus widened to $21.8 billion from $21.4 billion.
by RTT Staff Writer
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