U.S. trade deficit swells

Americans' desire for imports rises to $140.7 billion

Cargo containers are seen at the Port of Los Angeles in this March 10 photo. The trade deficit swelled to a high of 6 billion in March as a stronger U.S. economy stoked Americans' appetite for foreign-made goods.

? The United States posted a record trade deficit in March, reflecting Americans’ voracious demand for foreign-made goods as well as the most expensive crude oil since 1983.

The $46 billion deficit reported Wednesday by the Commerce Department represented a hefty 9.1 percent increase from February’s imbalance and came despite the fact that U.S. exports climbed to an all-time high in March.

“The economy is shifting into high gear and we’re vacuuming up goods from around the world to support that growth,” said Joel Naroff, president of Naroff Economic Advisors.

Imports of goods and services came to a record $140.7 billion in March, representing a 4.6 percent increase from the previous month. The strengthening U.S. economy stoked demand for imports. But the weaker value of the U.S. dollar, which makes imported goods more expensive in the United States, also played a factor in pushing up the total value of imports, said Mark Zandi, chief economist at Economy.com.

Exports, meanwhile, totaled $94.7 billion, also their best month on record. That marked a 2.6 percent advance from February.

Exports were helped out by the weaker dollar, which makes U.S. goods cheaper for foreign buyers, and some pickup in overseas economies, economists said.