TradingEconomics/Staff/5-4-2022
“The US trade deficit widened sharply to a record high of $109.8 billion in March of 2022, as a broad-based rise in prices, specially for energy lifted imports by 10.3% to $351.5 billion, the highest value on record. Oil import prices in March jumped to $87.2 billion a barrel compared to $76.37 in the previous month. Biggest increases were seen in purchases of finished metal shapes, crude oil, cotton apparel and household goods, footwear, furniture, computers, passenger cars, transport and travel. Exports also reached a new record value of $241.7 billion but increased 5.6%, much less than imports. Shipments rose mainly for crude oil, fuel oil, natural gas liquids, autos and parts, transport and travel. The trade deficit with China increased to $34 billion from $30.7 billion in February.”
United States balance of trade
