Soergel (2016) reported that U.S. trade gap contracted in March as exports and imports plummeted. As of March 2016, the net trade deficit was at $56.9 billion a lower figure compared to February’s $62.9 billion. Imports fell to $173.6 billion while export to $116.7 billion the least monthly tally since 2011. The smaller gap boosted the GDP of the country. Soergel noted that the international trade nearly came to a halt in February with the Baltic Dry Index falling to an all-time low indicating that few players were actively buying or selling products from the other nations. However, ...
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