US Goods Trade Deficit Widens in March

The US goods trade deficit widened to $83.5 billion in February 2026 from an upwardly revised $80.9 billion in the previous month. Imports rose 5.1% to $289.7 billion. Meanwhile, exports grew 5.9% month-on-month to $206.2 billion.

The US goods trade deficit narrowed to $80.8 billion in January 2026 from $98.5 billion in the previous month. This marks the smallest deficit since October 2025, as exports rose while imports dropped. Exports grew 8.2% month-on-month to $194.8 billion, mainly driven by increased shipments of industrial supplies (15.1%) and capital goods (8.8%). Exports of foods, feeds, and beverages (4.7%) and other goods (37.1%) also went up. These largely offset declines in exports of consumer goods (-12.1%) and automotive vehicles, etc. (-6.0%). Meanwhile, imports fell 1.1% to $275.6 billion, amid reduced purchases of consumer goods (-5.8%), industrial supplies (-2.7%), and automotive vehicles, etc (-8.3%), which more than offset increases in imports of capital goods (3.1%), foods, feeds, and beverages (0.8%), and other goods (7.3%).

The US goods trade deficit widened markedly to $98.5 billion in December 2025, up 19.0% from a revised $82.8 billion shortfall in November and well above market expectations of $86 billion. It marked the largest goods deficit since July. Imports rose 3.8% to $278.6 billion, driven by a 15.9% surge in industrial supplies. Purchases of capital goods increased 5.5%, while automotive vehicle imports climbed 3.9%. Meanwhile, exports fell 3.0% to $180.0 billion, weighed down primarily by a 12.3% drop in industrial supplies shipments. For 2025 as a whole, the US goods trade deficit widened to $1.23 trillion from $1.20 trillion in 2024.