International Trade Gap Widened 1.6% in February

The U.S. international trade deficit widened in February, growing 1.6% to $57.6 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. This was the highest level since October 2008. Imports and exports both rose 1.7%. January’s trade deficit was upwardly revised from $56.6 billion to $56.7 billion.

The goods deficit increased 0.4% to $77.0 billion, while the services surplus slipped 3.1% to $19.4 billion.

Exports of goods increased 2.3% to $137.2 billion in February. Exports of services grew 0.4% to $66.7 billion.

Imports of goods decreased 0.1% to $210.7 billion. Imports of services grew 2.3% to $47.8 billion.

Read the Census/BEA release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.