Research >> Economics
Goods and Services Deficit Increased in February 2018
The nation's international trade deficit in goods and services increased to $57.6 billion in February from $56.7 billion in January (revised), as imports increased 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 $57.6 billion in February, up $0.9 billion from $56.7 billion in January, revised.
Exports, Imports, and Balance (Exhibit 1)
February exports were $204.4 billion, $3.5 billion more than January exports. February imports were $262.0 billion, $4.4 billion more than January imports. The February increase in the goods and services deficit reflected an increase in the goods deficit of $0.3 billion to $77.0 billion and a decrease in the services surplus of $0.6 billion to $19.4 billion. Year-to-date, the goods and services deficit increased $21.1 billion, or 22.7 percent, from the same period in 2017. Exports increased $22.4 billion or 5.9 percent. Imports increased $43.6 billion or 9.1 percent.
Three-Month Moving Averages (Exhibit 2)
The average goods and services deficit increased $2.2 billion to $56.1 billion for the three months ending in February.
- Average exports increased $1.4 billion to $203.0 billion in February.
- Average imports increased $3.6 billion to $259.1 billion in February.
Year-over-year, the average goods and services deficit increased $10.1 billion from the three months ending in February 2017.
Posted: April 5, 2018 Thursday 08:30 AM