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WEDNESDAY April 12, 2006 TRADE GAP NARROWS IN FEBRUARY 2006 U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. monthly goods and services deficit narrowed in February 2006, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $68.6 billion (revised) in January to $65.7 billion in February, as imports decreased more than exports. Balance on Goods and Services Trade [Monthly, seasonally adjusted] ($ in Billions) $0 -$10 -$20 -$30 -$40 -$50 -$60 -$70 -$80 1999 2000 2001 2002 2003 2004 2005 2006 Exports Exports of goods and services decreased $1.3 billion in February to $113.0 billion, mostly reflecting a decrease in goods exports. Services exports also decreased. The decrease in goods exports reflected decreases in all categories. The largest decreases were in foods, feeds, and beverages; capital goods; and industrial supplies and materials. The decrease in services exports mostly reflected decreases in travel and other transportation. Imports Imports of goods and services decreased $4.2 billion in February to $178.7 billion, reflecting a decrease in goods imports. Services imports increased. The decrease in goods imports reflected decreases in all categories. The largest decreases were in capital goods and automotive vehicles, parts, and engines. The increase in services imports reflected an increase in royalties and license fees. Other transportation and travel decreased. Goods by geographic area (not seasonally adjusted) The goods deficit with China decreased from $17.9 billion in January to $13.8 billion in February. Exports increased $0.6 billion to $4.1 billion, while imports decreased $3.5 billion to $17.9 billion. The goods deficit with the European Union decreased from $9.7 billion in January to $8.3 billion in February. Exports increased $1.0 billion to $16.2 billion, while imports decreased $0.5 billion to $24.5 billion. The goods deficit with Canada decreased from $8.9 billion in January to $7.2 billion in February. Exports increased $0.4 billion to $17.6 billion, while imports decreased $1.3 billion to $24.9 billion. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the April 12 press release issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, U.S. International Trade in Goods and Services: February 2006. The next release is May 12, 2006. Contacts: Services: Ralph Stewart 202-606-2649 Goods: Vanessa Ware 301-763-2311 Bureau of Economic Analysis, U.S. Department of Commerce U.S. Census Bureau, U.S. Department of Commerce