U.S. Trade Deficit Narrows in February


Total February exports of $181.2 billion and imports of $227.2 billion resulted in a goods and services deficit of $46.0 billion, down from $52.5 billion in January, revised. February exports were $0.2 billion more than January exports of $180.9 billion. February imports were $6.3 billion less than January imports of $233.4 billion.

In February, the goods deficit decreased $6.0 billion from January to $61.4 billion, and the services surplus increased $0.5 billion from January to $15.4 billion.  Exports of goods decreased $0.6 billion to $128.0 billion, and imports of goods decreased $6.5 billion to $189.4 billion. Exports of services increased $0.8 billion to $53.2 billion, and imports of services increased $0.2 billion to $37.8 billion.

The goods and services deficit increased $0.6 billion from February 2011 to February 2012. Exports were up $15.4 billion, or 9.3 percent, and imports were up $16.1 billion, or 7.6 percent.

The January to February decrease in exports of goods reflected decreases in automotive vehicles, parts, and engines ($0.8 billion); foods, feeds, and beverages ($0.5 billion); and industrial supplies and materials ($0.1 billion).  Increases occurred in other goods ($0.5 billion) and consumer goods ($0.3 billion).  Capital goods were virtually unchanged.

The January to February decrease in imports of goods reflected decreases in consumer goods ($2.7 billion); industrial supplies and materials ($1.5 billion); automotive vehicles, parts, and engines ($1.0 billion); foods, feeds, and beverages ($0.6 billion); and capital goods ($0.4 billion).  An increase occurred in other goods ($0.1 billion).

Exports of services increased $0.8 billion from January to February.  The increase was mostly accounted for by increases in travel, other private services (which includes items such as business, professional, and technical services, insurance services, and financial services), and royalties and license fees.  Changes in the other categories of services exports were small.

Imports of services increased $0.2 billion from January to February.  The increase was more than accounted for by increases in travel, other private services, and passenger fares.  A decrease in other transportation (which includes freight and port services) was partly offsetting. Changes in the other categories of services imports were small.


TradingEconomics.com, U.S. Bureau of Economic Analysis
4/12/2012 1:37:02 PM