Research >> Economics
Goods and Services Deficit Increased in February 2021
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The nation's international trade deficit in goods and services increased to $71.1 billion in February from $67.8 billion in January (revised), as exports decreased more than imports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.1 billion in February, up $3.3 billion from $67.8 billion in January, revised.
Exports, Imports, and Balance
February exports were $187.3 billion, $5.0 billion less than January exports. February imports were $258.3 billion, $1.7 billion less than January imports.
The February increase in the goods and services deficit reflected an increase in the goods deficit of $2.8 billion to $88.0 billion and a decrease in the services surplus of $0.5 billion to $16.9 billion.
Year-to-date, the goods and services deficit increased $56.5 billion, or 68.6 percent, from the same period in 2020. Exports decreased $36.2 billion or 8.7 percent. Imports increased $20.3 billion or 4.1 percent.
Three-Month Moving Averages
The average goods and services deficit increased $0.7 billion to $68.6 billion for the three months ending in February.
• Average exports increased $1.1 billion to $189.9 billion in February.
• Average imports increased $1.8 billion to $258.5 billion in February.
Year-over-year, the average goods and services deficit increased $25.9 billion from the three months ending in February 2020.
• Average exports decreased $19.2 billion from February 2020.
• Average imports increased $6.7 billion from February 2020.
Posted: April 7, 2021 Wednesday 08:30 AM