Front Page

Wednesday, April 17, 2019 - 08:34

MNI DATA IMPACT: US February Trade Gap Narrowed To $49.4b


By Shikha Dave and Harrison Clarke

WASHINGTON (MNI) - The U.S. international trade gap narrowed to $49.4 billion in February from an unrevised $51.1 billion in January, a smaller gap than the $53.4 billion deficit expected by the Bloomberg consensus and the $53.7 billion gap expected by an MNI survey, data released by the Commerce Department Wednesday morning showed.

Here are the key findings from the release:

- Imports rose on gains in capital goods ex. autos, and consumer goods. These were partially offset by decreases in industrial supplies and materials, and foods, feeds and beverages.

- Exports rose on gains in capital goods ex. autos, led by civilian aircraft, and autos. This exports gain was partially offset by small declines in foods, feeds and beverages, and industrial supplies and materials.

- The unadjusted goods trade gap narrowed in February to $56.5 billion from $76.2 billion in January, so seasonal adjustment factors accounted for the seasonally adjusted narrowing.

- The overall BOP goods gap narrowed to $72.0 billion from $73.2 billion in January, while the services surplus widened to $22.6 billion. The petroleum gap widened to $1.2 billion in February from $0.9 billion in January, while the nonpetroleum goods gap narrowed to $69.8 billion from $71.1 billion.

- The unadjusted bilateral trade gaps narrowed with all the major trading partners except Mexico. The gap with China narrowed to $24.8 billion in February from $34.5 billion in January. At the same time, the gap with the EU narrowed to $9.2 billion from $11.7 billion. The gap with Canada narrowed to $0.1 billion from $0.7 billion, while the gap with Mexico widened to $7.4 billion from $5.8 billion.

** MNI Washington Bureau: 202-371-2121 **

[TOPICS: MAUDS$,M$U$$$]

Please log in to read and leave comments