Research >> Economics
Goods and Services Deficit Increased in February 2020
The nation's international trade deficit in goods and services decreased to $39.9 billion in February from $45.5 billion in January (revised), as imports decreased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $39.9 billion in February, down $5.5 billion from $45.5 billion in January, revised.
Exports, Imports, and Balance
February exports were $207.5 billion, $0.8 billion less than January exports. February imports were $247.5 billion, $6.3 billion less than January imports. The February decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.9 billion to $61.2 billion and a decrease in the services surplus of $0.4 billion to $21.3 billion. Year‐to‐date, the goods and services deficit decreased $19.7 billion, or 18.7 percent, from the same period in 2019. Exports increased $1.1 billion or 0.3 percent. Imports decreased $18.6 billion or 3.6 percent.
Three‐Month Moving Averages (Exhibit 2)
The average goods and services deficit decreased $1.3 billion to $44.7 billion for the three months ending in February.
- Average exports decreased $0.1 billion to $208.4 billion in February.
- Average imports decreased $1.3 billion to $253.1 billion in February.
Year‐over‐year, the average goods and services deficit decreased $10.6 billion from the three months ending in February 2019.
- Average exports increased $1.6 billion from February 2019.
- Average imports decreased $9.0 billion from February 2019.
Posted: April 2, 2020 Thursday 08:30 AM