US trade deficit falls 16.9 pct in February to $35.4 billion as imports and exports decline

Send to a friend

Send this article to a friend.

WASHINGTON, D.C. - The U.S. trade deficit plunged in February as both imports and exports sank.

TC Media

The Commerce Department says the deficit plummeted 16.9 per cent to $35.4 billion in February, down from $42.7 billion in January.

The sharp decrease reflects a $10.2 billion drop in imports since January, likely due to cheaper oil prices and a since-resolved West Coast ports dispute that interrupted the flow of 20 per cent of the nation's imports. The impact of that dispute was seen in sharp declines in imports from China and Japan, causing the trade deficit with both countries to fall.

Exports also tumbled because a strengthening dollar has caused American-made goods to be more expensive abroad.

Economists expect the deficit to widen further in 2015, as a growing U.S. economy should fuel demand for imports.

Organizations: Commerce Department

Geographic location: U.S., West Coast, China Japan

  • 1
  • 2
  • 3
  • 4
  • 5

Thanks for voting!

Top of page