Overall, the trade deficit grew 5.5 percent during the same period.
'Today's numbers are better than many economists predicted, and it's worth noting that the trade deficit is half of what it was in the first quarter of 2008,' said Commerce Secretary Gary Locke, in a statement.
However, the Office of the U.S. Trade Representative noted that the March trade data indicated for the first three months of 2009 that U.S. exports of goods and services were 17 percent lower than in the same period of 2008. Imports declined even more, by more than 26 percent, reflecting the current U.S. recession and lower prices paid for U.S. petroleum imports.
'The March 2009 trade data reiterates the current challenges in our global economy, specifically the decline in world trade,' said U.S. Trade Representative Ron Kirk. 'In order to ensure a speedy revival of the U.S. and global economies, it is imperative that we work with our trading partners to further open markets as well as working with members of Congress and stakeholders on new and pending free trade agreements in order to expand the free flow of trade.'
