A report released by the Commerce Department on Thursday showed the U.S. trade deficit unexpectedly widened in the month of February.
The Commerce Department said the trade deficit increased to $68.9 billion in February from a revised $67.6 billion in January.
Economists had expected the trade deficit to narrow to $67.0 billion from the $67.4 billion originally reported for the previous month.
Broker | Review | Regulators | Min Deposit | Website | |
🥇 | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> | |
🥈 | ![]() |
Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker >> |
🥉 | ![]() |
Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
4 | ![]() |
Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
5 | ![]() |
Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
6 | ![]() |
Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
7 | ![]() |
Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
8 | ![]() |
Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
9 | ![]() |
Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
10 | ![]() |
Read Review | SVGFSA | USD 5 | Visit Broker >> |
The wider trade deficit in February matched the largest gap between imports and exports since the deficit reached $72.2 billion last April.
The increase in the size of the trade deficit came even though the goods deficit narrowed to $91.4 billion in February from $91.7 billion in January, as the services surplus shrank to $22.5 billion from $24.1 billion.
The report said the value of imports of services spiked by 3.9 percent to $63.8 billion amid notable increases in imports of travel and transport services. The value of export of services climbed 1.0 percent to $86.4 billion.
The total value of imports surged by 2.2 percent to $331.9 billion in February after jumping 1.2 percent to $324.8 billion in January.
The value of imports reached the highest level in well over a year amid the surge in imports of services as well as notable increases in imports of cell phones and other household goods; foods, feeds, and beverages; and automotive vehicles, parts, and engines.
Meanwhile, the value of exports shot up by 2.3 percent to a record high of $263.0 billion in February after inching up by 0.1 percent to $257.2 billion in January.
Increases in exports of industrial supplies and materials, including crude oil; foods, feeds, and beverages; and civilian aircraft more than offset a decrease in exports of automotive vehicles, parts, and engines.