US had $1.7 billion trade deficit with India

The Dollar Business Bureau

The United states had a trade deficit of $1.7 billion with India and $26 billion with China in March.

 According to US Department of Commerce, the goods and services deficit was $40.4 billion in March, down from $47 billion in February.

The reports also revealed that the March exports were $176.6 billion, which is 1.5 billion less than the exports in February and the imports in March were $217.1 billion, which is $8.1 billion less than February.

The deficit with China was $26 billion in March. The March exports from China increased to $8.5 billion and the imports decreased to $34.4 billion.

The figures in March show the surplus of OPEC with $0.7 billion, South and Central America with $3.2 billion, Saudi Arabia with $0.1 billion and United Kingdom at $0.5 billion.

In the same way the deficits of European Union with $11.1 billion, China with $26 billion, South Korea with $3.0 billion, Japan with $5.9 billion, Germany with $5.9 billion, Mexico with $5.2 billion, Italy with $2.4 billion, France with $0.9 billion, India with $1.7 billion, Canada with $0.1 billion and Brazil with $0.2 billion were recorded.

The latest monthly report revealed that the United Kingdom’s balance shifted to a surplus of 0.5 billion from a deficit of $0.5 billion in the month of March.

UK’s export increased to $4.8 billion and the import of the same decreased to $4.4 billion.

The surplus of Saudi Arabia decreased by $1.2 billion in March. The exports of Saudi decreased to $1.4 billion and imports increased to $1.3 billion.