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Economy

U.S. Exports Hit Record in March

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By Jon C. Ogg Published
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Maersk container ship
Courtesy Maersk Line
The U.S. international trade balance, or the trade deficit, came in largely in line with expectations for the month of March. It was -$40.4 billion, up from the -$42.3 billion in February (revised to -$41.9 billion) and slightly under the consensus estimate of -$40.5 billion from Bloomberg.

It turns out that the non-petroleum exports hit the highest level on record for March. Some $122.7 billion of non-petroleum goods were sent out of the United States in March. Is this a sign that global demand is starting to return?

Demand was led by autos and capital goods, and was up 2.7% from the prior month. Exports in total were $193.9 billion, and imports in March were $234.3 billion. The Commerce Department said:

In March, the goods deficit decreased $0.6 billion from February to $60.7 billion, and the services surplus increased $0.9 billion from February to $20.4 billion. Exports of goods increased $3.7 billion to $135.1 billion, and imports of goods increased $3.1 billion to $195.8 billion. Exports of services increased $0.2 billion to $58.8 billion, and imports of services decreased $0.7 billion to $38.4 billion. The goods and services deficit increased $3.8 billion from March 2013 to March 2014. Exports were up $9.2 billion, or 5.0 percent, and imports were up $13.0 billion, or 5.9 percent.

ALSO READ: Cities With the Most Content (and Miserable) Workers

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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