February 2015 International Trade (General)

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The goods and services deficit was $35.4 billion in February, down $7.2 billion from $42.7 billion in January. February exports were $186.2 billion, $3.0 billion less than January exports. February imports were $221.7 billion, $10.2 billion less than January imports.

The February decrease in the goods and services deficit reflected a decrease in the goods deficit of $7.4 billion to $55.2 billion and a decrease in the services surplus of $0.1 billion to $19.7 billion.

Exports to Canada and Mexico, the main U.S. trading partners, fell in February. Exports to China tumbled 8.9%, while those to the European Union were unchanged. Imports from China plunged 18.1%, pushing the politically sensitive U.S.-China trade deficit down 21.2% to $22.5 billion.

Year-to-date, the goods and services deficit decreased $2.6 billion (3.2%), from the same period in 2014. Exports decreased $5.3 billion (1.4%). Imports decreased $7.9 billion (1.7%). 

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On a global scale, data compiled by the Netherlands Bureau for Economic Policy Analysis showed that world trade volume decreased by 1.4% in January (but +2.3% year-over-year) while prices fell by 1.8% (-16.1% YoY).

The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.