The U.S. trade gap expanded in March, broadly matching market expectations, according to fresh data released Tuesday by the U.S. Department of Commerce.
The report showed the deficit increased to $60.3 billion, up from a revised $57.8 billion recorded in February.
Analysts had projected a reading close to $60.4 billion, compared with the previously published $57.3 billion figure for the prior month.
The widening gap was driven by stronger growth in imports relative to exports. Import values rose 2.3% to $381.2 billion, while exports climbed 2.0% to $320.9 billion.