The U.S. goods trade deficit increased by 5.3% in March, reaching $87.9 billion, following the rise in imports and exports.

The U.S. Department of Commerce announced that the trade deficit in goods increased by 5.3% in March, reaching 87.9 billion dollars, compared to 83.5 billion dollars in February. Analysts, however, anticipated a deficit of 86.95 billion dollars. Imports of goods rose by 9.6 billion dollars, reaching 299.3 billion dollars, due to an 11% increase in vehicle imports, as well as a rise in imports of food, consumer goods, and capital goods.

Exports of goods increased by 5.2 billion dollars, to 211.5 billion dollars, supported by shipments of food and vehicles, although exports of consumer goods fell by 7.5%. Economists estimate that the war in Iran will affect exports of goods in the coming months, and the forecast for annual growth of the U.S. economy in the first quarter is 2.3%, following a modest advance of 0.5% in the fourth quarter.