The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $122.7 billion in February, down $8 billion from $130.7 billion in January, revised.
The February decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.8 billion to $147.0 billion and a decrease in the services surplus of $0.8 billion to $24.3 billion
February exports were $278.5 billion, $8.0 billion more than January exports. February imports were $401.1 billion, less than $0.1 billion less than January imports.
Year-to-date, the goods and services deficit increased $117.1 billion, or 86.0 percent, from the same period in 2024. Exports increased $24.0 billion or 4.6 percent. Imports increased $141.2 billion or 21.4 percent.
The average goods and services deficit increased $14.8 billion to $117.1 billion for the three months ending in February. Average exports increased $1.6 billion to $271.8 billion in February, while average imports increased $16.5 billion to $389.0 billion in February. Year-over-year, the average goods and services deficit increased $50.1 billion from the three months ending in February 2024.
Read the Census release.
Editor’s note: This story has been corrected to accurately reflect the decrease in goods and services deficit.
