US trade deficit widens to US$44.4b in March on falling exports
[WASHINGTON] US exports plunged nearly 10 per cent in March, driving an increase in the trade deficit to US$44.4 billion as the coronavirus pandemic took hold, the Commerce Department reported Tuesday.
Imports also fell, but only by 6.2 per cent, 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.
AFP
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