Background

The U.S. trade deficit in goods and services rose another 1.8 percent in February to $57.6 billion, according to trade statistics released by the Department of Commerce. Exports climbed 1.7 percent to $204.4 billion while imports gained 1.7 percent to $262.0 billion. For the year to date, the total deficit is up 22.7 percent as a 5.9 percent rise in exports has been outpaced by a 9.1 percent increase in imports.

The deficit in goods trade edged up 0.4 percent to $77.0 billion in February. Imports of goods were up 1.6 percent to $214.2 billion, including increases of $800 million for crude oil, $800 million for foods, feeds, and beverages, and $500 million for civilian aircraft. Exports of goods grew 2.2 percent to $137.2 billion, including increases of $700 million for passenger cars, $600 million for non-monetary gold, and $300 million each for crude oil and natural gas.

The services surplus tumbled 3.0 percent to $19.4 billion. Imports rose 2.4 percent to $47.8 billion and exports were up 0.7 percent to $67.3 billion.

Country/region

Deficit

% Change

Surplus

% Change

China

$34.7 billion

-2.3

   

European Union

$15.3 billion

+2.0

   

Germany

$6.7 billion

+6.3

   

Mexico

$6.6 billion

+17.9

   

Japan

$6.0 billion

+7.1

   

Italy

$2.8 billion

0

   

India

$1.9 billion

+5.6

   

Taiwan

$1.5 billion

0

   

France

$1.4 billion

0

   

South Korea

$1.1 billion

-26.7

   

Canada

$0.4 billion

-73.3

   

Saudi Arabia

$0.4 billion

-33.3

   

South/Central America

   

$3.4 billion

+41.7

Hong Kong

   

$3.1 billion

+19.2

Brazil

   

$0.9 billion

+80.0

United Kingdom

   

$0.6 billion

+100.0

Singapore

   

$0.5 billion

+44.4

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