The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced today that total February exports of $190.4 billion and imports of $232.7 billion resulted in a goods and services deficit of $42.3 billion, up from $39.3 billion in January, revised. February exports were $2.0 billion less than January exports of $192.5 billion. February imports were $1.0 billion more than January imports of $231.7 billion.
In February, the goods deficit increased $2.2 billion from January to $61.7 billion, and the services surplus decreased $0.8 billion from January to $19.4 billion. Exports of goods decreased $2.0 billion to $131.7 billion, and imports of goods increased $0.2 billion to $193.4 billion. Exports of services were virtually unchanged at $58.7 billion, and imports of services increased $0.8 billion to $39.3 billion.
The goods and services deficit decreased $1.0 billion from February 2013 to February 2014. Exports were up $3.6 billion, or 1.9 percent, and imports were up $2.6 billion, or 1.1 percent.
The January to February decrease in exports of goods reflected decreases in industrial supplies and materials ($2.7 billion) and capital goods ($0.9 billion). Increases occurred in consumer goods ($1.2 billion); other goods ($0.6 billion); and automotive vehicles, parts, and engines ($0.1 billion). Foods, feeds, and beverages were virtually unchanged.
The January to February decrease in imports of goods reflected decreases in capital goods ($1.2 billion); industrial supplies and materials ($0.3 billion); and foods, feeds, and beverages ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($1.0 billion); consumer goods ($0.1 billion); and other goods ($0.1 billion).
Exports of goods were virtually unchanged from February 2013 to February 2014.
Decreases occurred in industrial supplies and materials ($1.8 billion); automotive vehicles, parts, and engines ($0.2 billion); and other goods ($0.1 billion). Increases occurred in consumer goods ($1.5 billion); capital goods ($0.3 billion); and foods, feeds, and beverages ($0.2 billion).
The February 2013 to February 2014 decrease in imports of goods reflected decreases in industrial supplies and materials ($0.9 billion) and consumer goods ($0.9 billion). Increases occurred in automotive vehicles, parts, and engines ($0.9 billion); capital goods ($0.4 billion); and other goods ($0.1 billion). Foods, feeds, and beverages were virtually unchanged.
