Research >> Economics
Goods and Services Deficit Decreased in February 2022
|
The nation's international trade deficit in goods and services decreased slightly to $89.2 billion in February from January (revised), as exports increased 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 $89.2 billion in February, down less than $0.1 billion from $89.2 billion in January, revised.
Exports, Imports, and Balance
February exports were $228.6 billion, $4.1 billion more than January exports. February imports were $317.8 billion, $4.1 billion more than January imports.
The February decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.1 billion to $107.5 billion and a decrease in the services surplus of $1.1 billion to $18.3 billion.
Year-to-date, the goods and services deficit increased $45.7 billion, or 34.5 percent, from the same period in 2021. Exports increased $68.0 billion or 17.6 percent. Imports increased $113.7 billion or 22.0 percent.
Three-Month Moving Averages
The average goods and services deficit increased $3.0 billion to $86.8 billion for the three months ending in February.
• Average exports increased $1.2 billion to $227.2 billion in February.
• Average imports increased $4.2 billion to $313.9 billion in February.
Year-over-year, the average goods and services deficit increased $20.6 billion from the three months ending in February 2021.
• Average exports increased $35.1 billion from February 2021.
• Average imports increased $55.8 billion from February 2021.
Posted: April 5, 2022 Tuesday 08:30 AM