The U.S. March trade deficit increased for the second consecutive month

Data released by the U.S. Department of Commerce on the 5th shows that, affected by increased goods imports, the U.S. trade deficit for goods and services in March was $60.3 billion, an increase of $2.5 billion from the previous month, approximately a 4.4% rise, marking the second consecutive month of month-on-month growth. The data indicates that in March, U.S. exports and imports of goods and services were $320.9 billion and $381.2 billion, respectively, increasing by 2% and 2.3% month-on-month. The goods trade deficit increased by $4.1 billion, while the services trade surplus grew by $1.6 billion. That month, U.S. goods exports increased by $6.5 billion to $213.5 billion; due to month-on-month increases in imports of automobiles and parts, consumer goods, capital goods, and industrial raw materials, U.S. goods imports rose by $10.6 billion to $302.2 billion. (Xinhua)