The U.S. trade deficit fell by nearly $5 billion from February to March, ending the month at $38.8 billion, according to the Commerce Department.
Last month, the United States exported $184.3 billion in goods, but imported $223.1 billion in cargo.
Year over year, the trade deficit showed a $12.9-billion decrease. Exports fell by $0.4 billion and imports declined by $13.3 billion when compared to Mach 2012.
March’s total exports fell by $1.7 billion when compared to February, and imports were down by $6.5 billion. A decline in food products, auto parts and industrial supplies all contributed to a decrease in total exports. The import decline came mostly from the decrease in consumer goods, capital goods, industrial supplies and auto parts. - Jon Ross