The deficit in US advance international trade, which accounts for payments done ahead of shipment, fell by $1 billion in February to $106.6 billion, the Commerce Department said on Monday
WASHINGTON (Pakistan Point News / Sputnik - 28th March, 2022) The deficit in US advance international trade, which accounts for payments done ahead of shipment, fell by $1 billion in February to $106.6 billion, the Commerce Department said on Monday.
"The international trade deficit was $106.6 billion in February, down $1.0 billion from $107.6 billion in January," the Census Bureau, a unit of the Commerce Department, said, referring to the payments done as soon as an order is confirmed or at any time before shipment.
Advance payments for imports of goods in December were at $263.7 billion, growing by $900 million from January.
Receipts from exports stood at $157.2 billion, rising by $1.9 billion.
The difference in the growth between the two made up the net advance deficit for international trade.
