Research >> Economics
Goods and Services Deficit increased in February 2024
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $68.9 billion in February, up $1.3 billion from $67.6 billion in January, revised.
Exports, Imports, and Balance
February exports were $263.0 billion, $5.8 billion more than January exports. February imports were $331.9 billion, $7.1 billion more than January imports.
The February increase in the goods and services deficit reflected a decrease in the goods deficit of $0.3 billion to $91.4 billion and a decrease in the services surplus of $1.6 billion to $22.5 billion.
Year-to-date, the goods and services deficit decreased $3.9 billion, or 2.8 percent, from the same period in 2023. Exports increased $9.3 billion or 1.8 percent. Imports increased $5.4 billion or 0.8 percent.
Three-Month Moving Averages
The average goods and services deficit increased $2.1 billion to $66.9 billion for the three months ending in February.
• Average exports increased $3.0 billion to $259.0 billion in February.
• Average imports increased $5.1 billion to $325.9 billion in February.
Year-over-year, the average goods and services deficit decreased $3.7 billion from the three months ending in February 2023.
• Average exports increased $5.3 billion from February 2023.
• Average imports increased $1.6 billion from February 2023.
Posted: April 4, 2024 Thursday 08:30 AM