The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the country’s goods and services deficit was $68.9 billion in February, up $1.3 billion from $67.6 billion in January.
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.
The February figures show surpluses, in billions of dollars, with South and Central America ($5.5), Netherlands ($4.3), Hong Kong ($2.8), Australia ($1.6), United Kingdom ($0.8), Belgium ($0.6), Brazil ($0.6), Switzerland ($0.4), and Saudi Arabia (less than $0.1).
Deficits were recorded, in billions of dollars, with China ($21.9), European Union ($17.6), Mexico ($15.3), Vietnam ($9.6), Germany ($7.6), Japan ($6.2), Ireland ($5.3), South Korea ($5.2), Canada ($5.1), India ($4.4), Taiwan ($4.2), Italy ($3.4), Malaysia ($2.4), France ($0.8), Singapore ($0.3), and Israel ($0.3).