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Trade gap largest since 2008

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Trade gap largest since 2008

Stronger dollar gives rise to import boom.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, reported today that the nation’s international goods and services deficit was $51.4 billion in March, up $15.5 billion from $35.9 billion in February, revised. This is the largest monthly deficit since 2008.

Analysts had expected a deficit of $41.2 billion.

March exports were $187.8 billion, $1.6 billion more than February exports. March imports were $239.2 billion, $17.1 billion more than February imports.

The March increase in the goods and services deficit reflected an increase in the goods deficit of $14.9 billion to $70.6 billion and a decrease in the services surplus of $0.6billion to $19.2 billion.

Year-to-date, the goods and services deficit increased $6.4 billion, or 5.2%, from the same period in 2014. Exports decreased $11.7 billion or 2.0%. Imports decreased $5.3 billion or 0.8%.

For the full report, click here.

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