US trade deficit drops 3.6 percent in March

By Martin Crutsinger

Published May 6, 2014 1:09pm ET

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US trade deficit drops 3.6 percent in March — In this March 27, 2014 picture, a Mercedes-Benz sedans sit inside a car-carrier before being hauled away for distribution from the company's Vehicle Processing Center in Baltimore. The Commerce Department reports on the U.S. trade deficit for March on Tuesday, May 6, 2014. In February, the gap climbed to its highest level in five months as demand for American exports fell while imports rose slightly. (AP Photo/Patrick Semansky) | Patrick Semansky

WASHINGTON (AP) — The U.S. trade deficit narrowed in March as exports rebounded to the second highest level on record, led by strong gains in sales of aircraft, autos and farm goods.

The deficit declined to $40.4 billion, down 3.6 percent from a revised February imbalance of $41.9 billion, the Commerce Department reported Tuesday. The February deficit had been the biggest trade gap in five months.

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