Briefing.com: Trade Balance

Updated: 04-Apr-24 09:18 ET

February Trade Balance

Updated: 04-Apr-24 09:18 ET

Highlights

The trade deficit in February widened to $68.9 billion (Briefing.com consensus -$66.0 billion) from a downwardly revised -$67.6 billion (from -$67.4 billion) in January.
The widening was the result of exports being $5.8 billion more than January exports and imports being $7.1 billion more than January imports.

Key Factors

Exports of industrial supplies and materials increased by $2.9 billion.
Exports of foods, feeds, and beverages increased by $1.7 billion.
Exports of capital goods increased by $1.5 billion.
Exports of automotive vehicles, parts, and engines decreased by $1.3 billion.
Imports of consumer goods increased by $1.6 billion.
Imports of automotive vehicles, parts, and engines increased by $1.1 billion.
The real goods deficit increased by $1.0 billion to $87.0 billion. That left the Q1 average 2.5% larger than the Q4 average.

Big Picture

The key takeaway from the report is that both exports and imports increased in February, reflecting a pickup in global trade.