Apparel, Footwear Boost U.S. Trade Deficit

In What's New, Industry News by Just Style

Spring 13 Shoe TrendsWashington—A rise in exports of apparel and footwear, along with falls in imports, helped reduce United States’s goods and services deficit in March, new figures show.

According to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, total March exports of $184.3 billion and imports of $223.1 billion resulted in a goods and services deficit of $38.8 billion, down from February’s revised figure of $43.6 billion.

Apparel and clothing accessories exports were up 12.6% month-on-month to $313 million in March, while imports fell 15.6% to $5.904 billion.

For footwear, exports rose 18.75% to reach $76 million, while imports were down 31.9% to $1.535 billion.

The total March export figure was down $1.7 billion on February’s total of $186 billion, while imports were $6.5 billion down on the February figure of $229.6 billion.

The goods deficit fell $4.6 billion month-on-month to $56.1 billion, while the services surplus was up $0.2 billion from $17.3 billion.

While exports of goods were down $1.8 billion to $130.3 billion, imports of goods fell $6.4 billion to $186.5 billion.

Meanwhile, exports of services edged up $0.1 billion to $53.9 billion, while imports of services fell by the same amount to $36.6 billion.

The goods and services deficit was down $12.9 billion year-on-year in March, with exports falling 0.2% and imports down 5.6%.

 

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