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Trade Deficit Up Again as Import Gain Outpaces Increase in Exports

Thursday, April 07, 2016
Sandler, Travis & Rosenberg Trade Report

Trade statistics released April 5 by the Department of Commerce show that the U.S. trade deficit in goods and services rose 2.6 percent in February as exports gained 1.0 percent to $178.1 billion and imports increased 1.4 percent to $225.1 billion.

The goods deficit rose 1.4 percent in February to $64.7 billion. Imports of goods were up 1.5 percent to $183.3 billion, including gains of $1.3 billion for pharmaceutical preparations and $600 million for toys, games and sporting goods. Exports of goods increased 1.5 percent to $118.6 billion, including gains of $600 million for gem diamonds and $300 million for pharmaceutical preparations.

The services surplus fell 1.7 percent to $17.7 billion. Imports were up $300 million to $41.8 billion but exports slipped by less than $100 million to $59.5 billion.

Country/region

Deficit

% Change

Surplus

% Change

China

$32.1 billion

+3.2

European Union

$10.6 billion

-15.9

Japan

$5.4 billion

-3.6

   

Germany

$5.2 billion

-10.3

   

Mexico

$5.1 billion

-8.9

 

South Korea

$2.8 billion

-3.4

Italy

$2.4 billion

0

India

$2.4 billion

+4.3

France

$1.5 billion

0

Canada

$1.0 billion

+100

United Kingdom

$0.5 billion

+400

Saudi Arabia

   

$1.3 billion

Change from $0.2 billion deficit

South/Central America

$2.7 billion

-14.8

Brazil

$0.4 billion

-33.3

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