U.S. TRADE DEFICIT $49.4 BLN
U.S. BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January, revised.
Deficit: | $49.4 Billion | -3.4%° |
Exports: | $209.7 Billion | +1.1%° |
Imports: | $259.1 Billion | +0.2%° |
Next release: May 9, 2019 (°) Statistical significance is not applicable or not measurable. Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, April 17, 2019 |
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Exports, Imports, and Balance
February exports were $209.7 billion, $2.3 billion more than January exports. February imports were $259.1 billion, $0.6 billion more than January imports.
The February decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.2 billion to $72.0 billion and an increase in the services surplus of $0.5 billion to $22.6 billion.
Year-to-date, the goods and services deficit decreased $8.3 billion, or 7.6 percent, from the same period in 2018. Exports increased $11.1 billion or 2.7 percent. Imports increased $2.8 billion or 0.5 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $0.4 billion to $53.5 billion for the three months ending in February.
- Average exports increased $0.1 billion to $207.5 billion in February.
- Average imports decreased $0.3 billion to $261.0 billion in February.
Year-over-year, the average goods and services deficit decreased $0.1 billion from the three months ending in February 2018.
- Average exports increased $3.8 billion from February 2018.
- Average imports increased $3.7 billion from February 2018.
Exports
Exports of goods increased $2.1 billion to $139.5 billion in February.
Exports of goods on a Census basis increased $1.9 billion.
- Capital goods increased $2.1 billion.
- Civilian aircraft increased $2.2 billion.
- Automotive vehicles, parts, and engines increased $0.6 billion.
- Industrial supplies and materials decreased $0.4 billion.
Net balance of payments adjustments increased $0.2 billion.
Exports of services increased $0.2 billion to $70.1 billion in February.
- Transport increased $0.2 billion.
- Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion.
Imports
Imports of goods increased $0.9 billion to $211.6 billion in February.
Imports of goods on a Census basis increased $0.8 billion.
- Consumer goods increased $1.6 billion.
- Cell phones and other household goods increased $2.1 billion.
- Other goods increased $0.5 billion.
- Industrial supplies and materials decreased $1.2 billion.
Net balance of payments adjustments increased $0.1 billion.
Imports of services decreased $0.3 billion to $47.5 billion in February.
- Transport decreased $0.2 billion.
- Travel (for all purposes including education) decreased $0.1 billion.
- Government goods and services increased $0.1 billion.
Real Goods in 2012 Dollars – Census Basis
The real goods deficit decreased $1.8 billion to $81.8 billion in February.
- Real exports of goods increased $0.8 billion to $150.7 billion.
- Real imports of goods decreased $0.9 billion to $232.5 billion.
Revisions to January imports
- Imports of goods were revised down less than $0.1 billion.
- Imports of services were revised up less than $0.1 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis
The February figures show surpluses, in billions of dollars, with South and Central America ($3.7), Hong Kong ($2.8), United Kingdom ($0.9), Brazil ($0.6), Singapore ($0.4), Canada ($0.4), and OPEC ($0.3). Deficits were recorded, in billions of dollars, with China ($30.1), European Union ($12.4), Mexico ($7.7), Japan ($6.7), Germany ($5.5), Italy ($2.8), South Korea ($2.4), India ($2.2), France ($2.2), Taiwan ($1.7), and Saudi Arabia ($0.3).
- The deficit with China decreased $3.1 billion to $30.1 billion in February. Exports increased $1.6 billion to $9.2 billion and imports decreased $1.5 billion to $39.3 billion.
- The surplus with Hong Kong increased $1.0 billion to $2.8 billion in February. Exports increased $0.9 billion to $3.2 billion and imports decreased $0.1 billion to $0.3 billion.
- The deficit with Japan increased $1.3 billion to $6.7 billion in February. Exports decreased $1.1 billion to $5.7 billion and imports increased $0.2 billion to $12.4 billion.
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