US Trade Deficit Sees Significant Drop

The United States witnessed a notable decrease in its goods and services trade deficit, which fell by 6.1% to $122.7 billion in February, as reported by the Census Bureau and the Bureau of Economic Analysis (BEA).

Exports Rise as Imports Slightly Decline

February saw an $8 billion increase in exports, bringing the total to $278.5 billion, while imports experienced a minor drop of $100 million, settling at $401.1 billion.

Annual Trade Deficit Growth

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