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U.S. Trade Plummeted in March With Record Drop in Exports

California To Cut Budget Spending Amid Deficits Worsened By Coronavirus
Photographer: Patrick T. Fallon/Bloomberg
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U.S. exports of goods and services plunged in March by a record and imports declined by the most in 11 years as the coronavirus pandemic stymied trade and travel.

The overall gap in goods and services trade widened to $44.4 billion from a revised $39.8 billion in February, according to Commerce Department data released Tuesday. The median estimate of economists surveyed by Bloomberg had called for a widening to $44.2 billion.