US had over Rs 11,300 crore trade deficit with India in March

The US had a trade deficit of $1.7 billion (approximately 11,309.6 crore) with India and of $26 billion (approximately Rs 17,297.2 crore) with China in the month of March, according to official figures.

The goods and services deficit was $40.4 billion (approximately 2.68 lakh crore) in March, down $6.5 billion from $47.0 billion in February, the US Department of Commerce said in its latest monthly figures.

March exports were $176.6 billion, $1.5 billion less than February exports while imports in the month were $217.1 billion, $8.1 billion less than in February, it said.

According to the Commerce Department, the deficit with China decreased $6.2 billion to $ 26 billion in March.

Exports from China increased $0.1 billion to $8.5 billion and imports decreased $6.1 billion to $34.4 billion, it said.

The March figures show surpluses with South and Central America ($3.2 billion), OPEC ($0.7 billion), United Kingdom ($0.5 billion) and Saudi Arabia ($0.1 billion).

Deficits were recorded with China ($26 billion), European Union ($ 11.1 billion), Germany ($ 5.9 billion), Japan ($ 5.9 billion), Mexico ($ 5.2 billion), South Korea ($ 3.0 billion), Italy ($ 2.4 billion), India ($ 1.7 billion),

France ($ 0.9 billion), Brazil ($ 0.2 billion), and Canada ($ 0.1 billion).

According to the latest monthly report, the balance with the United Kingdom shifted from a deficit of $ 0.5 billion to a surplus of $ 0.5 billion in March.

Exports from the UK increased $0.6 billion to $4.8 billion and imports decreased $0.3 billion to $4.4 billion.

The surplus with Saudi Arabia decreased $1.2 billion to $0.1 billion in March. Exports from Saudi Arabia decreased $0.9 billion to $1.4 billion and imports increased $0.3 billion to $1.3 billion.