US Trade Deficit Sees a Notable Decrease in February

In a surprising turn of events, the United States witnessed a 6.1% decrease in its goods and services trade deficit, settling at $122.7 billion in February. This revelation comes from the latest report by the Census Bureau and the Bureau of Economic Analysis (BEA).

Exports Rise as Imports Take a Slight Dip

February saw exports climbing by $8 billion to reach $278.5 billion, while imports experienced a minor reduction of $100 million, totaling $401.1 billion. This shift marks a significant moment in the US trade landscape.

Annual Trade Deficit and Growth Rates

On an annual basis, the goods and services deficit surged by 86%, or $117.1 billion. This was accompanied by a 21.4% increase in imports, amounting to $141 billion, and a 4.6% rise in exports, adding $24 billion to the economy.