The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $39.9 billion in February, down $5.5 billion from $45.5 billion in January, revised.
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 percent, from the same period in 2019. Exports increased $1.1 billion or 0.3 percent. Imports decreased $18.6 billion or 3.6 percent.
The February figures show surpluses, in billions of dollars, with South and Central America ($5.9), Brazil ($1.9), Hong Kong ($1.5), United Kingdom ($1.3), OPEC ($1.2), Singapore ($0.7), and Saudi Arabia ($0.3).
Deficits were recorded, in billions of dollars, with China ($19.7), European Union ($12.6), Mexico ($9.7), Japan ($5.1), Germany ($4.8), Italy ($2.3), South Korea ($1.7), India ($1.6), Canada ($1.6), Taiwan ($1.5), and France ($0.5).