Total February exports were $178.1 billion and imports were $225.1 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce. This resulted in a goods and services deficit of $47.1 billion, up from $45.9 billion in January. February exports were up $1.8 billion from January, and February imports were up $3 billion from January.
The February increase in the goods and services deficit reflected an increase in the goods deficit of $0.9 billion to $64.7 billion and a decrease in the services surplus of $0.3 billion to $17.7 billion.
Year-to-date, the goods and services deficit increased $10.8 billion, or 13.1 percent, from the same period in 2015. Exports decreased $20.5 billion or 5.5 percent. Imports decreased $9.7 billion or 2.1 percent.
Exports of goods increased $1.8 billion and exports of services decreased less than $0.1 billion. The increase in exports of goods mostly reflected increases in consumer goods ($1.1 billion) and gem diamonds ($0.6 billion).
The decrease in exports of services reflected decreases in transport, which includes freight and port services and passenger fares ($0.2 billion).
Imports of goods increased $2.7 billion and imports of services increased $0.3 billion. The increase in imports of goods mostly reflected an increase in consumer goods ($3.6 billion).
The increase in imports of services mainly reflected increases in other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services ($0.1 billion) and travel ($0.1 billion).
