4/17, 2:30 PM (Source: TeleTrader)
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US trade deficit narrows to $49.4B in February

The international goods and services trade deficit of the United States decreased to $49.4 billion in February, down by 3.4% from January's revised figure of $51.1 billion, the US Census Bureau and the US Bureau of Economic Analysis said in a report released on Wednesday.

Exports in February amounted to $209.7 billion, rising by $2.3 billion compared to the figure recorded a month earlier. Meanwhile, imports stood at $259.1 billion in the first month of 2019, up by $0.6 billion compared to the first month of 2019. The decrease in February's trade deficit reflected a fall in the goods deficit of $1.2 billion, as well as an increase in the surplus of services of $0.5 billion.

The US had a surplus in February in trade with South and Central America ($3.7 billion), Hong Kong ($2.8 billion), the United Kingdom ($0.9 billion), Brazil ($0.6 billion),Singapore and Canada (both $0.4 billion) and OPEC ($0.3 billion). The highest trade deficits were recorded with China ($30.1 billion), the European Union ($12.4 billion), and Mexico ($7.7 billion).

Breaking the News / NP