U.S. trade deficit widens to $44.4 billion in March as exports fall

U.S. exports plunged nearly 10 percent in March, driving an increase in the trade deficit to 44.4 billion U.S. dollars, as the COVID-19 pandemic took hold, the Commerce Department reported on Tuesday.

Imports also fell by 6.2 percent, as transportation and shipping began to close down worldwide.

Declines in international travel and tourism made up a large portion of the decreases in exports and imports. Travel and transport exports dropped about 10.1 billion U.S. dollars, while imports fell around 10.6 billion U.S. dollars.

"The declines in March exports and imports were, in part, due to the impact of COVID-19, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted," the report said.