According to US commerce department the US trade deficit decreased by 3.6 per cent in March 2014 on month on month basis to USD 41.87 billion. Trade deficit for March increased by 10.4% year on year. For February 2014 trade deficit was USD 41.9 billion. US trade deficit, which was reported at USD 36.56 billion in February 2013 had increased by 10.43% year on year.
US Oil production decreased by 9% in February 2014 on month on month basis to 225 million barrels while US oil imports decreased by 14% to 201 million barrels on month on month basis. US oil imports have decreased over the last two months indicating that in future trade deficit may narrow.