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Tuesday, April 5, 2016

Foreign Trade Deficit Increased in February

The U.S. international trade deficit widened in February to $47.1 billion, up $1.2 billion from January. The widening of the balance was driven by a $3.0 billion increase in imports, which outpaced a $1.8 billion increase in exports.


The goods deficit increased $0.9 billion to $64.7 billion, while the services surplus decreased $0.3 billion to $17.7 billion. The petroleum deficit narrowed by $0.2 billion to $8.9 billion.

Exports of goods increased $1.8 billion to $118.6 billion, driven largely by a $1.9 billion increase in consumer goods, which included a $0.6 billion increase in diamond exports. Exports of services fell less than $0.1 billion to $59.5 billion, largely due to decreases in transport.

Imports of goods increased $2.7 billion to $183.3 billion, largely due to a $3.6 billion increase in consumer goods, which offset a $1.3 billion decrease in passenger car imports.

Imports of services increased $0.3 billion to $41.8 billion due to marginal increases in travel, transport, and other business services.

Read the Census/BEA release.
Visit the new Banks and the Economy.

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