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Showing posts with label us. Show all posts
Friday, February 14, 2014
US Trade Gap Narrows Slightly in February
The US foreign trade deficit dropped 3% in February to $43.0 billion. The decrease in the deficit is due solely to exports, which increased. Imports remained the same as the previous month.
Exports grew by 0.9% to $186.0 billion. Imports reported no change between January and February at $228.9 billion both months. The reduction in the deficit for February was caused primarily by a reduction in the petroleum deficit, which dropped $3.1 billion to $21.2 billion. The goods deficit also declined and the services surplus increased, also contributing to a lower deficit.
The real goods deficit, which is important for the calculation of GDP, shrank 1.5% to $47.4 billion.
Read the Census report.
ReadThe RestEntry..
Exports grew by 0.9% to $186.0 billion. Imports reported no change between January and February at $228.9 billion both months. The reduction in the deficit for February was caused primarily by a reduction in the petroleum deficit, which dropped $3.1 billion to $21.2 billion. The goods deficit also declined and the services surplus increased, also contributing to a lower deficit.
The real goods deficit, which is important for the calculation of GDP, shrank 1.5% to $47.4 billion.
Read the Census report.
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