Trade Deficit Down Again as Exports, Imports Both Rise

The U.S. trade deficit in goods and services declined 3.5 percent in February after a 14.7 percent drop in January, according to trade statistics released April 17 by the Department of Commerce. The monthly deficit of $49.4 billion reflected a 1.1 percent increase in exports to $209.7 billion and a 0.2 percent rise in imports to $259.1 billion. For the year to date the deficit was down 7.6 percent from the same period in 2018 as a 2.7 percent increase in exports outpaced a 0.5 percent increase in imports.

The deficit in goods trade dropped 1.6 percent to $72.0 billion in February. Imports of goods edged up 0.4 percent to $211.6 billion, including a $2.1 billion increase in cell phones and other household goods along with a $1.2 billion decrease in industrial supplies and materials. Exports of goods were up 1.5 percent to $139.5 billion, including increases of $2.2 billion in civilian aircraft and $600 million in automotive vehicles, parts, and engines along with a $400 million decline in industrial supplies and materials.

The services surplus rose 2.3 percent for the second straight month, to $22.6 billion. Imports slipped 0.6 percent to $47.5 billion while exports edged up 0.3 percent to $70.1 billion.

Country/region	Deficit	% Change	Surplus	% Change
China	$30.1 billion	-9.3
European Union	$12.4 billion	-5.3
Mexico	$7.7 billion	+6.9
Japan	$6.7 billion	+26.4
Germany	$5.5 billion	-8.3
Italy	$2.8 billion	-3.4
South Korea	$2.4 billion	0
India	$2.2 billion	+15.8
France	$2.2 billion	+83.3
Taiwan	$1.5 billion	-22.7
Saudi Arabia	$0.3 billion	+200
South/Central America			$3.7 billion	-17.8
Hong Kong			$2.8 billion	+55.5
United Kingdom			$0.9 billion	-55.0
Brazil			$0.6 billion	-45.5
Canada			$0.4 billion	-71.4
Singapore			$0.4 billion	Shift from deficit of <$0.1 billion

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