February 2011 International Trade

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According to data compiled by the Netherlands Bureau for Economic Policy Analysis, world trade volume increased 0.3 percent in February from the previous month, after an upwardly revised rise of 1.7 percent in January. World imports declined a bit, particularly in the United States, Japan and Asia. Export volumes increased slightly in most regions, the major exceptions being the United States and Latin America.

Prices jumped 1.6 percent between January and February, and are now up 20.4 percent from their February 2009 low.
 

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The U.S. goods and services deficit shrank to $45.8 billion in February, down from $47.0 billion in January. Exports totaled $165.1 billion and imports $210.9 billion.
 

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Paper exports and imports both shrank in February: exports by 228,000 metric tons (7.5 percent) and imports by 14,000 tons (3.8 percent). Both metrics remained above year-earlier levels, however: exports +180,000 tons (6.9 percent) and imports +12,000 tons (3.3 percent).
 

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Softwood lumber exports rose by 18 MMBF (15.4 percent) in February while imports fell by 34 MMBF (4.9 percent). Exports were 41 MMBF (44.3 percent) higher than year-earlier levels, but imports 73 MMBF (10.0 percent) lower.