by Calculated Risk on 4/03/2025 08:49:00 AM
The Census Bureau and the Bureau of Economic Analysis reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that
the goods and services deficit was $122.7 billion in February, down $8.0 billion from $130.7 billion in
January, revised. .February exports were $278.5 billion, $8.0 billion more than January exports. February imports were
$401.1 billion, less than $0.1 billion less than January imports.
emphasis added
Click on graph for larger image.
Exports increased and imports decreased in February.
Exports were up 4.8% year-over-year; imports were up 19.7% year-over-year.
The second graph shows the U.S. trade deficit, with and without petroleum.
The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.
Note that net, exports of petroleum products are positive and have been increasing.
The trade deficit with China increased to $21.1 billion from $19.9 billion a year ago.
The surge in imports in January and February happened as some importers were avoiding the coming tariffs.
