The US Census Bureau and US Bureau of Economic Analysis, through the Department of Commerce announced Friday that total February exports of $186 billion and imports of $228.9 billion resulted in a trade deficit of $43 billion, down from $44.5 billion in January.
February exports were $1.6 billion more than January exports of $184.4 billion. February imports were $0.1 billion more than January imports of $228.9 billion.
Statistics Canada said that Canada's merchandise exports decreased 0.6 percent in February, while imports edged up 0.1 percent. As a result, Canada's trade deficit with the world widened from $746 million in January to $1 billion in February. Exports decreased to $38.5 billion, as volumes were down 0.6 percent and prices were flat. Imports edged up to $39.5 billion, as prices rose 0.6 percent and volumes declined 0.4 percent.
Exports to the US decreased 1.1 percent to $28.4 billion in February, while imports were up 0.8 percent to $25 billion. Consequently, Canada's trade surplus with the United States decreased from $3.9 billion in January to $3.4 billion in February.