U.S. Trade Deficit Narrows in February


U.S. international trade deficit in goods and services decreased to $45.8 billion in February from $47.0 billion (revised) in January, as imports dropped more than exports.

February exports were $2.4 billion less than January exports of $167.5 billion. February imports were $3.6 billion less than January imports of $214.5 billion.

In February, the goods deficit decreased $1.0 billion from January to $59.3 billion, and the services surplus increased $0.3 billion to $13.6 billion. Exports of goods decreased $2.5 billion to $118.0 billion, and imports of goods decreased $3.4 billion to $177.3 billion. Exports of services were virtually unchanged at $47.2 billion, and imports of services decreased $0.2 billion to $33.6 billion.

The goods and services deficit increased $6.0 billion from February 2010 to February 2011. Exports were up $20.5 billion, or 14.2 percent, and imports were up $26.6 billion, or 14.4 percent.

The January to February decrease in exports of goods reflected decreases in automotive vehicles, parts, and engines ($1.0 billion); industrial supplies and materials ($0.6 billion); other goods ($0.5 billion); capital goods ($0.3 billion); consumer goods ($0.2 billion); and foods, feeds and beverages ($0.2 billion).

The January to February decrease in imports of goods reflected decreases in automotive vehicles, parts, and engines ($2.3 billion); capital goods ($2.1 billion); industrial supplies and materials ($1.4 billion); and other goods ($0.1 billion). Increases occurred in consumer goods ($2.3 billion) and foods, feeds, and beverages ($0.1 billion).

The February 2010 to February 2011 increase in exports of goods reflected increases in industrial supplies and materials ($9.6 billion); capital goods ($4.0 billion); foods, feeds, and beverages ($1.9 billion); automotive vehicles, parts, and engines ($1.0 billion); and consumer goods ($0.8 billion). Other goods were virtually unchanged.

The February 2010 to February 2011 increase in imports of goods reflected increases in industrial supplies and materials ($9.2 billion); consumer goods ($5.7 billion); capital goods ($5.7 billion); automotive vehicles, parts, and engines ($3.3 billion); and foods, feeds, and beverages ($1.4 billion). A decrease occurred in other goods ($0.3 billion).

Services exports were virtually unchanged from January to February. An increase in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) was partly offset by a decrease in other transportation (which includes freight and port services). Changes in the other categories of services exports were small.

Services imports decreased $0.2 billion from January to February. The decrease was more than accounted for by decreases in other transportation and travel. An increase in other private services was partly offsetting. Changes in the other categories of services imports were small.


TradingEconomics.com, U.S. Census Bureau
4/12/2011 12:38:39 PM