US trade gap hits six year high as imports surge

May 06, 2015 (LBO) – The United States trade deficit has widened by 43.2 per cent in March 2015 against the previous month, country’s Census Bureau announced Tuesday.

The trade deficit was 51.4 billion US dollars in March, up 15.5 billion US dollars from 35.9 billion US dollars in February 2015.
“This is the largest trade deficit since October 2008. The percentage rise was also the biggest since December 1996.” US media reported.

March exports were 187.8 billion US dollars, 1.6 billion US dollars more than February exports, Census Bureau said.

March imports were 239.2 billion US dollars, an increase of 17.1 billion US dollars.

Year-to-date trade deficit has increased by 5.2 per cent from the same period last year.

Exports decreased by 2.0 per cent while imports also decreased by 0.8 per cent, Census Bureau further said.

Inflation-adjusted trade deficit stood at 67.2 billion US dollars in March, the largest in eight years.

In February 2015, the adjusted figure stood as 51.2 billion US dollars.

International Trade Balance on Goods and Services Trade Graph