Economic Indicators
U.S. goods trade deficit widens sharply in March
2022.04.27 15:57
FILE PHOTO: A ship stacked with shipping containers is unloaded on a pier at Port Newark, New Jersey, U.S., November 19, 2021. REUTERS/Mike Segar/File Photo
WASHINGTON (Reuters) – The U.S. trade deficit in goods widened sharply in March amid a surge in imports, suggesting that trade remained a drag on economic growth in the first quarter.
The goods trade deficit jumped 17.8% to $125.3 billion, the Commerce Department said on Wednesday. Imports accelerated 11.5%, outpacing a 7.2% increase in exports. Trade has subtracted from gross domestic product growth for six straight quarters.
