Updated: 04-Apr-24 09:18 ET
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Updated: 04-Apr-24 09:18 ET |
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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.
Category |
FEB |
JAN |
DEC |
NOV |
OCT |
Trade Deficit |
-$68.9B |
-$67.6B |
-$64.2B |
-$62.7B |
-$65.2B |
Exports |
$263.0B |
$257.2B |
$256.9B |
$254.1B |
$257.9B |
Imports |
$331.9B |
$324.8B |
$321.1B |
$316.8B |
$323.1B |