International Goods and Service Trade Deficit Decreases for February
Led by decreasing imports of industrial supplies and materials, the U.S. international trade deficit in goods and services decreased to $43 billion in February, according to the Census Bureau and Bureau of Economic Analysis. That’s a slight decline from January’s…
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$44.5 billion goods and services deficit, the Bureau reported in its U.S. International Trade in Goods and Services Report for February 2013. Both exports and imports increased for the month, but exports had the upper hand: February exports were $186 billion, around a $2 billion increase over January’s number. February imports increased by $ 0.1 billion. The increase in exports of goods included $1.8 billion in industrial supplies and materials, plus other smaller increases in other goods and automotive vehicles, parts and engines. There was also a $2.6 billion decrease in imports of industrial supplies and materials. In the services category, exports and imports increased by $0.2 billion each.