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US trade deficit drops 3.6 percent in March: report

WASHINGTON--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 Commerce Department says the deficit declined to US$40.4 billion, down 3.6 percent from a revised February imbalance of US$41.9 billion, which had been the biggest trade gap in five months.

U.S. exports rose 2.1 percent to US$193.9 billion with exports to Canada and South Korea hitting all-time highs. Imports also rose but by a slower 1.1 percent to US$234.3 billion, reflecting increased shipments of cellphones, clothing and other consumer goods and increased demand for heavy machinery and other capital goods.

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