Trade Deficit Up Again as Imports, Exports Increase

The monthly U.S. trade deficit in goods and services rose 1.9 percent in February as imports and exports both increased.

Imports were up 2.2 percent, to $331.9 billion, from January to February. Imports of goods rose 1.8 percent to $268.1 billion, with increases of $1.4 billion for cell phones and other household goods, $1.3 billion for foods, feeds, and beverages, and $1.1 billion for automotive vehicles, parts, and engines along with a $1.3 billion decrease for drugs. Services imports advanced 3.9 percent to $63.8 billion.

Exports rose 2.3 percent in February to a record $263.0 billion. Exports of goods jumped 2.9 percent to $176.7 billion, with increases of $1.4 billion for civilian aircraft, $1.1 billion for crude oil, and $1.0 billion for soybeans as well as a decrease of $900 million for passenger cars. Services exports gained 0.9 percent to $86.4 billion.

With exports and imports both up, the monthly U.S. trade deficit increased from $67.6 billion in January to $68.9 billion in February. The deficit in goods trade edged up 0.3 percent to $91.4 billion while the services trade surplus fell 6.6 percent to $22.5 billion.