The U.S.
Commerce Department reported on Thursday
that the U.S. goods and services trade deficit narrowed by 6.1 per cent to $122.7 billion in February compared to a record-high shortfall of $130.7 billion (revised from
$131.4 billion) registered in January.
Economists had expected
a gap of $123.5 billion in February.
According to
the report, the February decline in the goods and services deficit reflected a fall
in the goods deficit of $8.8 billion to $147.0 billion and a drop in the
services surplus of $0.8 billion to $24.3 billion.
Overall,
exports of goods and services from the U.S. increased by 2.9 per cent m-o-m to
$278.5 billion in February, the highest level on record, while imports were flat m-o-m at $401.1 billion.
Year-to-date, the goods and services
deficit jumped by 86.0 per cent from the same period in 2024. Exports advanced
by 4.6 per cent, while imports surged by 21.4 per cent.