International Trade Balance Narrowed in February

The U.S. international trade deficit narrowed in February to $43.6 billion, down from $48.2 billion in January, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The overall decrease reflected a $0.4 billion increase in exports along with a $4.3 billion decrease in imports.

The goods deficit decreased $4.6 billion to $65.0 billion, while the services surplus increased less than $0.1 billion to $21.4 billion.

Exports of goods rose $0.4 billion to $128.5 billion in February, driven by increases in consumer goods. They saw a jump of $0.7 billion, largely due to an increase in pharmaceutical preparations. Exports of services increased less than $0.1 billion to $64.4 billion.

Imports of goods decreased $4.2 billion to $193.4 billion, mostly due to a decrease in consumer goods, which fell by $3.1 billion. Imports of services decreased less than $0.1 billion to $43.0 billion in February.

Read the Census/BEA release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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