U.S. Trade Deficit Narrows in February


The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced that total February exports of $186.0 billion and imports of $228.9 billion resulted in a goods and services deficit of $43.0 billion, down from $44.5 billion in January, revised. February exports were $1.6 billion more than January exports of $184.4 billion. February imports were $0.1 billion more than January imports of $228.9 billion.

In February, the goods deficit decreased $1.5 billion from January to $60.2 billion, and the services surplus was virtually unchanged from January at $17.3 billion. Exports of goods increased $1.3 billion to $132.2 billion, and imports of goods decreased $0.1 billion to $192.4 billion. Exports of services increased $0.2 billion to $53.8 billion, and imports of services increased $0.2 billion to $36.5 billion.

The goods and services deficit decreased $1.6 billion from February 2012 to February 2013. Exports were up $5.8 billion, or 3.2 percent, and imports were up $4.2 billion, or 1.9 percent.
 
The January to February increase in exports of goods reflected increases in industrial supplies and materials ($1.8 billion); other goods ($0.5 billion); and automotive vehicles, parts, and engines ($0.2 billion). Decreases occurred in capital goods ($0.8 billion); consumer goods ($0.3 billion); and foods, feeds, and beverages ($0.1 billion).
 
The January to February decrease in imports of goods reflected decreases in industrial supplies and materials ($2.6 billion) and other goods ($0.3 billion). Increases occurred in automotive vehicles, parts, and engines ($1.1 billion); consumer goods ($0.7 billion); capital goods ($0.3 billion); and foods, feeds, and beverages ($0.2 billion).

BEA | Nuno Fontes | nuno@tradingeconomics.com
4/5/2013 1:47:11 PM