Trade Deficit Grows as Exports, Imports Climb

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.