May 04, 2021
The U.S. Bureau of Economic Analysis indicated that, “goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February, revised.”
March exports amounted to $200.0 billion, which was more than February exports by $12.4 billion, whereas, March imports amounted to $274.5 billion which was $16.4 billion more than February imports.
BEA also noted that, “the March increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $17.1 billion.”
Year to date compared with that of 2020, there was a 64.2% or $83.2 billion increase in the goods and services deficit. Moreover, exports fell $21.0 billion or 3.5%. Imports rose $62.2 billion or 8.5%.
Three-Month Moving Averages
For the three months ended in March, the average goods and services deficit rose $2.5 billion to $70.9 billion. This was due to a $3.3 billion increase in average exports to $193.3 billion in March and a $5.8 billion increase in average imports to $264.2 billion in March.
Exports of goods rose $11.7 billion to $142.9 billion in March. These consists of industrial supplies and materials, capital goods and consumer goods which increased by $5.2 billion, $2.9 billion and $2.0 billion, respectively. Additionally, export of services rose $0.8 billion to $57.1 billion in March. Of the services exported, travel, transport and financial services increased $0.4 billion, $0.3 billion and $0.1 billion.
Imports of goods increased $15.3 billion to $234.4 billion in March. As for imports of goods; consumer goods, and industrial supplies and materials, capital goods and automotive vehicles, parts, and engines increased $4.5 billion, $3.7 billion, $3.3 billion and $2.0 billion, respectively. Besides, imports of services increased by $1.1 billion to $40.0 billion in March. Of this, transport increased $0.9 billion and travel rose $0.1 billion.
Disclaimer:
Analyst Certification –The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure –The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
