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2019-04-19 09:05:00

U.S. TRADE DEFICIT $49.4 BLN

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.

U.S. International Trade in Goods and Services Deficit
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.
Data adjusted for seasonality but not price changes

Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, April 17, 2019

 

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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