The US trade deficit jumped to $63.9 billion in March, boosted by rising prices on oil imports that more than offset higher exports to China.
The March trade gap was higher than analysts' forecasts of $60 billion and followed a deficit of $57.9 billion in February. Both import and export levels were just short of records, the Commerce Department said.
The trade shortfall grew 10.4% from the previous month - the sharpest monthly change in the trade picture since September 2005. In March, imports surged 4.5% to $190.1 billion, while exports increased 1.8% to $126.2 billion.
Rising oil prices continued to put pressure on the trade balance of the world's biggest energy consumer, as imports in March included a $2 billion rise in crude oil imports. The politically sensitive US trade gap with China narrowed to $17.2 billion, compared with $18.4 billion in February.
