U.S. Trade Deficit Narrows in February
Baku, April 11 (AZERTAC). 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).
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