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Richmans' Trade and Taxes Blog
U.S. net exports fell in March
The Commerce Department released the latest trade statistics this morning and the data were quite negative. U.S. net exports of goods and services fell from a seasonally adjusted negative $45.1 billion in February to a negative $51.8 billion in March. If multiplied by 12, the March data would be the equivalent to a negative $622 billion net exports per year.
The deterioration could also be seen in the China-specific numbers. Net exports of goods to China fell from a negative $299 billion for the 12 months ending in February to a negative $302 billion for the 12 months ending in March, as graphed above. This is the 26th straight month of falling U.S. net exports to China.
If services were included in the China total, U.S. net exports in goods and services would probably be closer to a negative $289 billion for the twelve month period ending in March, since the U.S. had positive net exports of services to China of about $13 billion in 2011.
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