US monthly trade deficit expands in March ’25

The US monthly trade deficit in goods and services expanded to $140.5 billion in March 2025, up 14.0 per cent from a revised $123.2 billion in February, according to data from the US Census Bureau and the Bureau of Economic Analysis (BEA).

Imports rose by $17.8 billion to $419.0 billion, outpacing a modest $0.5 billion increase in exports to $278.5 billion. The goods deficit rose by $16.5 billion to $163.5 billion, while the services surplus fell by $0.8 billion to $23.0 billion.

Year-to-date, the goods and services deficit deficit has surged 92.6 per cent to $189.6 billion from the same period in 2024. Imports have climbed 23.3 per cent year-on-year (YoY), largely due to higher pharmaceutical and consumer goods shipments, while exports rose by 5.2 per cent.

The largest deficits were recorded with the European Union ($48.3 billion), Ireland ($29.3 billion), China ($24.8 billion), and Mexico ($16.8 billion). The deficit with Ireland notably jumped by $15.3 billion due to a spike in imports. Surpluses were posted with the Netherlands ($4.5 billion), South and Central America ($3.2 billion), and Hong Kong ($1.9 billion).

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama