The U.S. monthly international trade deficit decreased in February 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $45.5 billion in January (revised) to $39.9 billion in February, as imports decreased more than exports. The previously published January deficit was $45.3 billion. The goods deficit decreased $5.9 billion in February to $61.2 billion. The services surplus decreased $0.4 billion in February to $21.3 billion.
Exports of goods and services decreased $0.8 billion, or 0.4 percent, in February to $207.5 billion. Exports of goods increased $1.0 billion and exports of services decreased $1.7 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($0.7 billion) and in automotive vehicles, parts, and engines ($0.5 billion). A decrease in consumer goods ($0.7 billion) partly offset the increases.
- The decrease in exports of services reflected decreases in travel ($1.3 billion), in financial services ($0.3 billion), and in transport ($0.2 billion).
Imports of goods and services decreased $6.3 billion, or 2.5 percent, in February to $247.5 billion. Imports of goods decreased $5.0 billion and imports of services decreased $1.4 billion.
- The decrease in imports of goods reflected decreases in capital goods ($3.7 billion), in industrial supplies and materials ($1.6 billion), and in consumer goods ($1.1 billion). An increase in automotive vehicles, parts, and engines ($1.4 billion) partly offset the decreases.
- The decrease in imports of services reflected decreases in travel ($0.8 billion) and in transport ($0.5 billion).
For more information, read the full report.