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Trade gap falls in March

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Trade gap falls in March

Both imports and exports fall.

The US Department of Commerce reported today that the nation’s international goods and services deficit was $40.4 billion in March, down $6.56 billion, or 13.9%, from a revised $46.96 billion in February.

Both imports and exports fell during the month, likely reflecting a slow-down in overall demand and a reduction of inventories domestically.

Economists had expected a $41.5 billion deficit during the month.

Exports of goods fell 1.6% to $116.8 billion during the month, while overall exports of goods and services fell 0.9% to $176.6 billion. Exports of food were the lowest since September 2010. Exports of industrial supplies and materials fell to a six-year low, while consumer goods exports were the lowest since March 2013.

Imports of goods fell 4.3% to $175.3 billion, the lowest level since December 2010.

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