Went down by US$7.4 billion to US$84.6 billion

There is good news for the American people today as their international trade deficit improved last month, going down by US$7.4 billion to US$84.6 billion, representing an 8.1 per cent improvement.

The international trade deficit at the end of the previous month of February was US $92.0 billion. The U.S. Census Bureau, which announced the international trade, wholesale inventories, and retail inventories advance statistics for March 2023 , reported that exports for the month were up.

Exports of goods for March amounted to US$172.7 billion, which is US$4.9 billion more than February exports. At the same time, imports of goods for last month closed at US$257.3 billion, which is US$2.5 billion less than February imports. 

The advance wholesale inventories for March, adjusted for seasonal variations and trading day differences were estimated at US $919.9 billion, up 0.1 percent from February 2023 and up 9.3 percent from March 2022.  

The January 2023 to February 2023 percentage change was unrevised from the preliminary estimate of up 0.1 percent.  

The advance retail inventories for March, adjusted for seasonal variations and trading day differences ended last month at US$773.4 billion, which is up 0.7 percent from February 2023 and were up 8.4 percent from March 2022.  

The January 2023 to February 2023 percentage change was revised from up 0.2 percent to 0.3 percent.