International Trade Gap Narrowed 15.2% in February

The U.S. international trade deficit narrowed in February, falling 15.2% to $49.0 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. February’s report was the highest level since October 2008. Imports fell 1.8%, while exports rose 2.0%. January’s trade deficit was upwardly revised from $57.6 billion to $57.7 billion.

The goods deficit decreased 9.7% to $69.5 billion, while the services surplus slipped 6.9% to $20.5 billion.

Exports of goods increased 2.7% to $140.9 billion in February. Exports of services grew 0.6% to $67.6 billion.

Imports of goods decreased 1.7% to $210.4 billion. Imports of services fell 1.9% to $47.1 billion.

Read the Census/BEA release.