US Had USD 1.7 Bn Trade Deficit with India

The US had a trade deficit of USD 1.7 billion with India and of USD 26 billion with China in the month of March, according to official figures.

The goods and services deficit was USD 40.4 billion in March, down USD 6.5 billion from USD 47.0 billion in February, the US Department of Commerce said in its latest monthly figures.

March exports were USD 176.6 billion, USD 1.5 billion less than February exports while imports in the month were USD 217.1 billion, USD 8.1 billion less than in February, it said.

According to the Commerce Department, the deficit with China decreased USD 6.2 billion to USD 26 billion in March.

Exports from China increased USD 0.1 billion to USD 8.5 billion and imports decreased USD 6.1 billion to USD 34.4 billion, it said.

The March figures show surpluses with South and Central America (USD 3.2 billion), OPEC (USD 0.7 billion), United Kingdom (USD 0.5 billion) and Saudi Arabia (USD 0.1 billion).

Deficits were recorded with China (USD 26 billion), European Union (USD 11.1 billion), Germany (USD 5.9 billion), Japan (USD 5.9 billion), Mexico (USD 5.2 billion), South Korea (USD 3.0 billion), Italy (USD 2.4 billion), India (USD 1.7 billion), France (USD 0.9 billion), Brazil (USD 0.2 billion), and Canada (USD 0.1 billion).

According to the latest monthly report, the balance with the United Kingdom shifted from a deficit of USD 0.5 billion to a surplus of USD 0.5 billion in March.

Exports from the UK increased USD 0.6 billion to USD 4.8 billion and imports decreased USD 0.3 billion to USD 4.4 billion.

The surplus with Saudi Arabia decreased USD 1.2 billion to USD 0.1 billion in March. Exports from Saudi Arabia decreased USD 0.9 billion to USD 1.4 billion and imports increased USD 0.3 billion to USD 1.3 billion.