Goods & Services Deficit Narrowed by $5.5B in February

Washington, DC, April 2, 2020-The goods and services deficit was $39.9 billion in February, down $5.5 billion from $45.5 billion in January, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

February exports were $207.5 billion, $0.8 billion less than January exports. February imports were $247.5 billion, $6.3 billion less than January imports.

The February decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.9 billion to $61.2 billion and a decrease in the services surplus of $0.4 billion to $21.3 billion.

Year-to-date, the goods and services deficit decreased $19.7 billion, or 18.7%, from the same period in 2019. Exports increased $1.1 billion or 0.3%. Imports decreased $18.6 billion or 3.6%.