US Trade Deficit Down 0.1% to $89.2Bln in February, Near Record High - Commerce Dept
The US trade deficit dipped by 0.1% in February to $89.2 billion, the Commerce Department said on Tuesday, reporting a near record high figure that reflected the ongoing surge in imports amid congestion at ports in the country
WASHINGTON (Pakistan Point News / Sputnik - 05th April, 2022) The US trade deficit dipped by 0.1% in February to $89.2 billion, the Commerce Department said on Tuesday, reporting a near record high figure that reflected the ongoing surge in imports amid congestion at ports in the country.
"The goods and services deficit was $89.2 billion in February, down less than $0.1 billion from $89.
2 billion in January, revised," the Bureau of Economic Analysis, a unit within the Commerce Department, said in a statement.
Imports rose 1.3% in February to a record $317.8 billion, the statement said.
Exports, meanwhile, climbed 1.8% to $228.6 billion, the statement added.
The difference between the two accounted for the trade deficit.
The broader goods and services deficit reached $859.1 billion in 2021, an increase of $182.5 billion, or 27%, from 2020.