Import, Export, Logistics concept – Map global partner connection of Container Cargo freight ship for Logistic Import Export background (Photo: AdobeStock/Elements of this image furnished by NASA)

The U.S. trade deficit rose only $0.7 billion to $50.0 billion in March, less than expected and beating the consensus forecast. The steady gap comes after two sharp consecutive declines in the trade deficit.

Prior Consensus Forecast Forecast Range Actual Trade Balance Level $-49.4B $-50.2B $-51.8B — $-48.8B $50B

Exports rose $2.1 billion to $212.0 billion in March, while imports rose $2.8 billion to $262.0 billion.

The average goods and services deficit fell by $3.3 billion to $50.1 billion for the three months ending in March. Average exports rose $2.2 billion to $209.7 billion and average imports fell $1.1 billion to $259.9 billion.

Year‐over‐year, the average goods and services deficit fell $1.9 billion, as average exports increased $4.7 billion and average imports increased by just $2.7 billion.

The politically-sensitive U.S. trade deficit with China fell $1.9 billion to $28.3 billion in March. Exports rose $1.4 billion to $10.5 billion and imports fell $0.5 billion to $38.8 billion.