The U.S. international trade deficit narrowed in February to $43.6 billion, down from $48.2 billion in January, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The overall decrease reflected a $0.4 billion increase in exports along with a $4.3 billion decrease in imports.
Exports of goods rose $0.4 billion to $128.5 billion in February, driven by increases in consumer goods. They saw a jump of $0.7 billion, largely due to an increase in pharmaceutical preparations. Exports of services increased less than $0.1 billion to $64.4 billion.
Imports of goods decreased $4.2 billion to $193.4 billion, mostly due to a decrease in consumer goods, which fell by $3.1 billion. Imports of services decreased less than $0.1 billion to $43.0 billion in February.
Read the Census/BEA release.
Visit Banks and the Economy.