The U.S. exported $15.86 billion in ag goods during March against imports of $17.68 billion, resulting in a deficit of $1.83 billion. That was down from a surplus of $49.1 million in February. Through the first half of fiscal year (FY) 2023, U.S. ag exports totaled $100.18 billion against imports of $98.94 billion for a surplus of $1.24 billion. USDA forecasts FY 2023 ag trade exports at $184.5 billion and imports at $199.0 billion, which would suggest a deficit of $14.5 billion.
U.S. trade deficit narrows sharply in March as exports rise...
The U.S. trade deficit contracted 9.1% to $64.2 billion in March from an upwardly revised $70.6 billion level for February. Exports increased 2.1% to $256.2 billion, while imports slipped 0.3% to $320.4 billion.
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