U.S. Trade gap continued to narrow in February

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES

The U.S. Trade deficit narrowed in February, growth in both imports and exports has cooled, which is “hardly surprising given the state of the global economy and imports falling at a slightly faster rate.
In February the U.S. Commerce Department announced that, nations trade gap dropped by -11.9 %. The decline in trade deficit could make a positive contribution to the GDP growth, despite overall decline in trade and falling exports, as falling oil prices were the main reason behind the lower imports, leaving more disposable income to spend on other goods and services, economists think.

International Trade (Picture Autor: Maurice Marcellin) licence Creative Commons

Declining oil price in February helped to moderate petroleum trade gap.

The U.S. trade deficit with China narrowed to $-16 billion in February from the deficit of $-26.1 billion recorded in January, led by declining imports from China.

Growth in China and other developing nations have also downshifted, cutting into demand for U.S. goods.
• Imports of Crude Oil

Industrial Supplies		Consumer Goods		Military sales		Private Services
-3.74%	1.38%	-2.14%	-4.23%	0.35%	0.03%	-2.31%	-3.60%
*Imports*	Exports	Imports	Exports	Imports	Exports	Imports	Exports

Imports fell by -2.53 % in February to $247.5 billion, reported by the Commerce Department, the largest decrease came from imports of Capital goods, except automotive and Other Transportation services. Opposite to overall trend, imports of Cars, parts, engines and U.S. Government Services, grew.

The foreign trade picture continues to be one of weaker global growth constraining exports, and slow domestic spending limiting the pull for imports, some economists said.

The value of U.S. crude oil imports fell to $6.2 billion in February from $6.2 billion in January as the price of a barrel of oil fell to $57.2 from $61.9 in the previous month. The decline of imports was broad based, services fell -2.9 % and imports of goods declined by -2.44 %. • U.S. Exports by Major Category

Imports from europe fell, as demand for goods from Other E.U. Countries declined, but trade with Norway grew by 412.50 %. Trade with other North American countries was mixed, consumption of goods from Canada declined, while imports from Mexico advanced. U.S. Demand for goods from Pacific Rim Countries fell, as imports from Hong Kong declined, but imports of goods from Japan improved. U.S. trade gap dropped by -19.1 % from Feb. 2019, as imports decline by -1.02 %. exports decreased by -0.49 % in February to $207.5 billion, reported by the Commerce Department, following Consumer goods decline by -4.23 % and Other Transportation services. Exports of Weapons fell as well, by -54.66 % to $0.11 billions. Bucking the overall trend, exports of miscellaneous other goods and , grew. Exports of Opto-Electronics grew also, up 19.08 % to $0.41 billions. The weakness overseas is hitting home. U.S. manufacturers, which have led the economic growth, have turned more cautious and business is slowing, according to a number of more recent sector surveys. Exports of services have declined by -2.57 %, services accounted for 33.9 %, of total exports in February. Exports of goods, rose by 0.61 %. Increasing exports to Chile where offset by the decline of sales to Brazil. Exports to europe improved, as exports to Switzerland grew the most, up 369.39 %, but exports to United Kingdom fell by -83.73 %. Products made in U.S. have seen declining demand form Pacific Rim Countries, as exports to Hong Kong declined, but exports of goods to Japan improved. • U.S. Imports by Major Countries
Exports to Selected Geographical Region

Technology Group Exports	Technology Group Imports	Technology Group Trade Balance
Total Technology Group exports deacreased by $26 millions or -0.09 % to $27,549 millions from Jan. 2020 , despite an increase in exports of Aerospace goods by 9.45 % to $10,170 millions from Jan. 2020. Exports of Information and Communication goods fell by $26 millions or -9.69 % to $6,638 millions.	Total Technology Group imports deacreased by $0 millions or 0.00 % to $0 millions from Jan. 2020 , despite a decrease in imports of Electronics goods by 0.00 % to $0 millions from Jan. 2020. Imports of Information and Communication goods fell by $0 millions or 0.00 % to $0 millions. • Imports by Technology Group	Total Technology Group trade deficit fell by $6,427 millions or 55.62 % to $5,128 millions from deficit of $11,555 millions Jan. 2020. Information and Communications trade deficit fell by $2,627 millions or 25.14 % to $7,824 millions from deficit of $10,451 millions Jan. 2020. • Trade Balance by Technology Group

Technology Group Exports

Total Technology Group exports deacreased by $26 millions or -0.09 % to $27,549 millions from Jan. 2020 , despite an increase in exports of Aerospace goods by 9.45 % to $10,170 millions from Jan. 2020. Exports of Information and Communication goods fell by $26 millions or -9.69 % to $6,638 millions.

Technology Group Imports

Total Technology Group imports deacreased by $0 millions or 0.00 % to $0 millions from Jan. 2020 , despite a decrease in imports of Electronics goods by 0.00 % to $0 millions from Jan. 2020. Imports of Information and Communication goods fell by $0 millions or 0.00 % to $0 millions.

• Imports by Technology Group

Technology Group Trade Balance

U.S. International Trade in Goods & Services

(In millions $)

U.S. International Trade in Goods & Services (In millions $)	Feb. 2020	Jan. 2020	Dec. 2019	Nov. 2019	Oct. 2019	Sep. 2019
Total Trade Balance	-39,932	-45,338	-48,613	-43,086	-46,939	-52,450
Trade Balance of Goods	-61,212	-67,005	-69,652	-63,904	-67,797	-71,718
Trade Balance of Services	21,280	21,668	21,038	20,818	20,858	19,267
Total Exports	207,543	208,569	209,476	208,630	207,266	205,990
Exports of Goods	137,203	136,374	137,784	137,160	136,161	136,833
Exports of Services	70,341	72,195	71,692	71,470	71,105	69,156
Total Imports	247,476	253,906	258,089	251,716	254,205	258,440
Imports of Goods	198,415	203,380	207,436	201,064	203,957	208,551
Imports of Services	49,061	50,527	50,653	50,653	50,247	49,889

U.S. Trade Balance by Selected Countries and Areas

( In millions $)

U.S. Trade Balance by Selected Countries and Areas ( In millions $)	Feb. 2020	Jan. 2020	Dec. 2019	Nov. 2019	Oct. 2019	Sep. 2019
Total Goods	-47,565	-68,395	-68,395	-62,925	-78,038	-73,312
North America	-10,860	-10,334	-10,334	-9,726	-12,057	-11,420
Canada	-1,200	-2,836	-2,836	-1,435	-3,297	-2,539
Mexico	-9,661	-7,498	-7,498	-8,292	-8,760	-8,881
Europe	-11,370	-15,422	-15,422	-16,924	-20,986	-17,627
European Union	-9,955	-12,206	-12,206	-13,112	-16,439	-13,697
Austria	-585	-602	-602	-785	-838	-632
Belgium	1,157	1,040	1,040	1,201	1,462	984
Czech Republic	-181	-171	-171	-213	-288	-265
Finland	-217	-277	-277	-316	-345	-251
France	-243	-580	-580	-1,277	-2,390	-1,488
Germany	-4,088	-5,064	-5,064	-5,276	-5,282	-4,785
Hungary	-251	-280	-280	-365	-342	-338
Ireland	-3,983	-5,163	-5,163	-4,297	-5,314	-4,833
Italy	-1,879	-2,520	-2,520	-2,512	-2,876	-2,214
Netherlands	2,478	1,964	1,964	1,749	2,008	941
Poland	-266	-223	-223	-210	-86	-251
Spain	106	285	285	-162	-206	283
Sweden	-649	-664	-664	-557	-707	-533
United Kingdom	-1,355	1,273	1,273	1,304	300	827
Other E.U.	55	-1,223	-1,223	-1,396	-1,535	-1,139
Norway	-1,397	-118	-118	-64	-123	-375
Russia	-2,651	-1,485	-1,485	-1,335	-1,749	-1,164
Switzerland	1,985	-1,872	-1,872	-2,303	-2,670	-2,473
Other Europe	594	259	259	-109	-4	81
Euro Area	-7,866	-11,368	-11,368	-12,059	-14,317	-12,406
Pacific Rim Countries	-22,198	-35,969	-35,969	-34,454	-40,225	-39,067
Australia	1,446	791	791	1,315	1,731	1,280
China	-15,998	-26,065	-26,065	-26,366	-31,259	-31,622
Japan	-4,571	-4,984	-4,984	-5,450	-5,074	-5,050
Malaysia	-2,142	-2,288	-2,288	-2,318	-2,877	-2,346
Philippines	-206	-266	-266	-311	-407	-321
Newly Industrialized Countries (NICS)	-8,509	-10,913	-10,913	-8,275	-11,045	-9,918
Hong Kong	1,777	1,652	1,652	2,034	1,771	2,531
Korea	-1,119	-1,232	-1,232	-1,433	-1,863	-1,098
Singapore	759	-84	-84	745	634	605
Taiwan	-1,248	-2,120	-2,120	-1,684	-1,831	-2,078
Other Pacific Rim	55	-87	-87	55	170	68
South/Central America	5,556	4,931	4,931	5,869	5,380	4,752
Argentina	201	132	132	159	106	250
Brazil	1,746	1,398	1,398	1,650	1,431	1,075
Chile	453	234	234	923	561	545
Colombia	375	111	111	445	158	161
Other South/Central America	2,780	3,056	3,056	2,692	3,124	2,721
OPEC	1,048	560	560	1,016	1,734	1,098
Indonesia	-952	-1,286	-1,286	-1,043	-1,220	-1,036
Nigeria	105	10	10	-27	-34	-186
Saudi Arabia	211	-227	-227	139	736	372
Venezuela	96	38	38	84	78	56
Other OPEC	636	739	739	821	955	857
Africa	-172	-212	-212	90	-110	-437
Algeria	-35	-26	-26	-1	-61	-113
Egypt	196	159	159	168	298	63
South Africa	-262	-407	-407	-320	-252	-222
Other Africa	-71	63	63	243	-95	-165
Other Countries	-8,509	-10,913	-10,913	-8,275	-11,045	-9,918
India	-1,253	-2,110	-2,110	-1,778	-2,405	-2,127
Thailand	-1,322	-1,843	-1,843	-1,777	-1,798	-1,696
Other	-5,934	-6,961	-6,961	-4,720	-6,842	-6,094

U.S. Imports by Major Category

( In millions $)

Imports by Major Category ( In millions $)	Feb. 2020	Jan. 2020	Dec. 2019	Nov. 2019	Oct. 2019	Sep. 2019
Total	247,476	253,906	258,089	251,716	254,205	258,440
Total Services	49,061	50,527	50,653	50,653	50,247	49,889
Travel	716	716	742	792	758	738
Passenger Fares	8,630	9,138	9,299	9,114	8,983	9,044
Other Transportation	11,967	12,928	13,012	12,900	12,753	12,651
Royalties and License Fees	4,167	4,162	4,155	4,318	4,314	4,262
Other Private Services	2,792	2,858	2,816	2,913	2,911	2,893
Transfers Under U.S. Military Sales Contracts	4,879	4,862	4,838	4,940	4,916	4,877
U.S. Government Misc. Services	3,783	3,767	3,744	3,702	3,675	3,516
Total Goods	198,415	203,380	207,436	201,064	203,957	208,551
Foods, feeds, and beverages	12,488	12,893	12,291	12,238	12,402	12,772
Industrial supplies and materials	40,770	42,355	44,783	40,773	41,391	41,923
Capital goods, except automotive	51,719	55,426	56,064	55,406	56,562	56,162
Automotive vehicles, parts, and engines	30,509	29,105	29,777	30,114	29,049	30,851
Consumer goods	51,330	52,453	51,897	51,309	52,311	54,716
Other goods	9,811	9,525	10,915	9,719	10,530	10,389

Exports by Technology Group

( In millions $)

Exports by Technology Group ( In millions $)	Feb. 2020	Jan. 2020	Dec. 2019	Nov. 2019	Oct. 2019	Sep. 2019
Total Technology Group	27,549	27,575	32,949	29,637	31,754	30,810
Advanced Materials	222	191	215	221	233	253
Aerospace	10,170	9,292	13,920	11,001	11,519	12,095
Biotechnology	1,802	1,676	1,505	1,898	2,198	2,158
Electronics	4,016	4,346	4,222	4,047	4,294	4,016
Flexible Manufacturing	1,483	1,598	1,875	1,367	1,664	1,442
Information and Communications	6,638	7,350	7,657	7,415	7,877	7,175
Life Science	2,624	2,434	2,739	2,802	2,807	2,656
Nuclear Technology	71	94	88	142	84	79
Opto-Electronics	412	346	491	374	380	518
Weapons	112	247	236	369	697	418

Annual Report on U.S. International Trade in Goods & Services

(In millions $)

U.S. International Trade in Goods & Services (In millions $)	2019	2018	2017	2016	2015	2014
Total Trade Balance	-52,113	-621,036	-566,031	-504,793	-531,503	-471,532
Trade Balance of Goods	-74,858	-891,251	-810,023	-752,507	-758,934	-703,159
Trade Balance of Services	22,745	270,215	243,993	247,714	227,431	231,627
Total Exports	202,575	2,499,970	2,329,311	2,208,072	2,230,317	2,272,320
Exports of Goods	133,614	1,671,839	1,551,434	1,455,704	1,513,888	1,590,350
Exports of Services	68,961	828,131	777,877	752,368	716,429	681,970
Total Imports	254,689	3,121,006	2,895,342	2,712,866	2,761,820	2,743,851
Imports of Goods	208,472	2,563,090	2,361,458	2,208,211	2,272,821	2,293,508
Imports of Services	46,216	557,916	533,884	504,654	488,999	450,343

• Source U.S. Department of Commerce, BEA.gov
Picture Autor: (Maurice Marcellin) licence Creative Commons.

Tweet
Economy Advance Monthly Sales Consumer Price Index CPI Producer Price Index PPI Retail Inventories Personal Income Gross Domestic Product GDP Money Supply Industrial Production Productivity Employment Situation US International Trade Factory Orders Durable Goods Construction Spending Housing Starts Vehicle Unit Sales	Stocks Event Calendar SEEL's Profile Stock Price SEEL's Financials Business Description Fundamentals Charts & Quotes SEEL's News Suppliers SEEL's Competitors Customers & Markets Economic Indicators SEEL's Growth Company Segments	Screening Stock Performance Growth Rates Profitability Valuation Dividend Financial Strength Efficiency Largest Companies Management Effectivness

Help

Sitemap

Advertise

About us

Glossary

Financial Terms

Technical Analysis

Fundamental Analysis

Energy Terms

Manufacturing Terms

Transportation Terms

Health Care

Insurance Terms

Economy Terms

Hotel & Leisure Terms

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. Free Stock Market News Feeds

Copyright © 2020 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

To view Intraday Stock Data Java must be installed. Java content may be prohibited by the security software, to see the stock quotes, choose "allow content from this page" option. Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com
CSIMarket.com 1500 N. University Drive, Coral Springs, FL 33071