The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
TUESDAY, April 5, 2016 FEBRUARY 2016 TRADE GAP IS $47.1 BILLION U.S. international trade in goods and services The U.S. monthly international trade deficit increased in February 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $45.9 billion in January (revised) to $47.1 billion in February, as imports increased more than exports. The previously published January deficit was $45.7 billion. The goods deficit increased $0.9 billion from January to $64.7 billion in February. The services surplus decreased $0.3 billion from January to $17.7 billion in February. Exports Exports of goods and services increased $1.8 billion, or 1.0 percent, in February to $178.1 billion. Exports of goods increased $1.8 billion and exports of services decreased less than $0.1 billion. The increase in exports of goods mainly reflected increases in consumer goods ($1.1 billion) and in other goods ($0.6 billion). The decrease in exports of services mainly reflected decreases in transport ($0.2 billion), which includes freight and port services and passenger fares, and in financial services ($0.1 billion). An increase in travel (for all purposes including education) ($0.2 billion) was partly offsetting. Imports Imports of goods and services increased $3.0 billion, or 1.3 percent, in February to $225.1 billion. Imports of goods increased $2.7 billion and imports of services increased $0.3 billion. The increase in imports of goods mainly reflected an increase in consumer goods ($3.6 billion). A decrease in automotive vehicles, parts, and engines ($1.5 billion) was partly offsetting. The increase in imports of services reflected increases in travel (for all purposes including education) ($0.1 billion), in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, and in transport ($0.1 billion). Goods by geographic area (seasonally adjusted, Census basis) The deficit with China increased $1.0 billion to $32.1 billion in February. Exports decreased $0.3 billion to $8.4 billion and imports increased $0.8 billion to $40.5 billion. The deficit with Canada increased $0.3 billion to $1.0 billion in February. Exports decreased $0.7 billion to $21.6 billion and imports decreased $0.4 billion to $22.6 billion. The balance with members of OPEC shifted from a deficit of $0.2 billion in January to a surplus of $1.9 billion in February. Exports increased $1.6 billion to $7.4 billion and imports decreased $0.4 billion to $5.5 billion. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics 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 5 news release, U.S. International Trade in Goods and Services: February 2016, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is May 4, 2016. Contacts: Services: Jeannine Aversa 202-606-2649 Goods: Matthew Przybocki 301-763-2311 U.S. Bureau of Economic Analysis, U.S. Department of Commerce U.S. Census Bureau, U.S. Department of Commerce