Market Updates
U.S. Trade Deficit Expanded In February
Brian Turner
05 Apr, 2023
New York City
The U.S. international trade deficit expanded in February, the Bureau of Economic Analysis reported Wednesday.
Exports in February decreased 2.7% from the previous month to $251.2 billion and imports fell 1.5% to $321.7 billion, resulting in a trade deficit rise of 2.7% to $70.5 billion.
The deficit with China increased $3.2 billion to $25.2 billion in February, driven by $1.4 billion decrease in exports to $13.1 billion and $1.8 billion increase in imports to $38.2 billion.
The surplus with Hong Kong increased $1.0 billion to $2.5 billion in February, driven by $1.0 billion increase in exports to $2.8 billion and less than $0.1 billion increase in exports to $0.3 billion.
Exports of goods decreased $8.5 billion to $169.2 billion in February and Services increased $1.7 billion to $82.0 billion.
Imports of goods decreased $5.8 billion to $262.2 billion in February and services increased $0.8 billion to $59.5 billion.
U.S. recorded trade deficit of $25.2 billion with China, $18.1 billion with the European Union, $12.0 billion with Mexico, $8.1 billion with Vietnam, $7.9 billion with Germany, $5.7 billion with Japan, $5.6 billion with Canada, $4.7 billion with Taiwan and $4.5 billion with South Korea.
U.S. recorded trade surplus with South and Central America of $4.7 billion, Australia $1.5 billion and Brazil $0.9 billion.
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