Trade deficit shrinks as imports fall 3.6%

Washington

AMERICA's trade deficit shrank more than forecast in March as imports fell in percentage terms by the most in seven years and outpaced a decline in shipments overseas.

The gap narrowed 13.9 per cent to US$40.4 billion, the smallest since February 2015, the Commerce Department reported on Wednesday. The median forecast in a Bloomberg survey called for a US$41.2 billion deficit.