US trade gap widens in March to $40.4 billion

The US trade deficit widened in March to its highest level in more than a year, as both imports and exports rose by more than 3 per cent in a sign of improved US and foreign demand, the government said today.

The US trade deficit widened in March to its highest level in more than a year, as both imports and exports rose by more than 3 per cent in a sign of improved US and foreign demand, the government said on Wednesday.

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The trade gap increased 2.5 percent to $40.4 billion, the highest since December 2008, up slightly from a revised estimate of $39.4 billion for February.

Wall Street analysts surveyed before the report had expected a smaller increase to $40.1 billion.