U.S. had $1.7 billion trade deficit with India in March

May 09, 2016 09:35 am | Updated 09:35 am IST - Washington

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

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

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

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

Exports from China increased $0.1 billion to $8.5 billion and imports decreased $6.1 billion to $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.

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