WORLD US trade deficit widens to $44.4 bn in March on falling exports

WORLD

US trade deficit widens to $44.4 bn in March on falling exports

AFP

20:54, May 05, 2020

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File photo: CGTN

US exports plunged nearly 10 percent in March, driving an increase in the trade deficit to $44.4 billion as the coronavirus pandemic took hold, the Commerce Department reported Tuesday.

Imports also fell, but only by 6.2 percent, as transportation and shipping began to close down worldwide.

"The declines in March exports and imports were, in part, due to the impact of COVID-19, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted," the report said. 

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