U.S. Department of Commerceannounced foreign trade data for February. Accordingly, the country The foreign trade deficitrose 4.8 percent in February compared to the previous month to $ 71.1 billion.
The foreign trade deficit, which increased above expectations and reached a record level, was expected to be 70.5 billion dollars in the period in question. The foreign trade deficit was 67.8 billion dollars in January.
The country’s exports decreased by 2.6 percent in February compared to the previous month and fell to 187.3 billion dollars. Its imports also decreased 0.7 percent to 258.3 billion dollars in the same period.
Trade deficit widened with China and Canada, decreased with Mexico
The relations of the USA in this period are sensitive China and Canada While the trade deficit between and increases, Mexican The trade deficit with Turkey decreased.
The country’s trade deficit with China rose 11.4 percent in the month in question compared to the previous month, reaching $ 30.3 billion. US exports to China were 10.4 billion dollars in this period, while imports from the country were recorded as 40.6 billion dollars.
The trade deficit of the USA with Canada also increased by 122 percent in February to 4 billion dollars. The country’s foreign trade deficit with Mexico fell by 42.9 percent to $ 6.8 billion.
Other trade partners with deficits in the US during this period include the European Union ($ 19 billion), Germany ($ 5.3 billion), Japan ($ 4.5 billion), Italy ($ 3.2 billion), France ($ 2.7 billion), Taiwan ($ 2.4 billion dollars), South Korea (2.3 billion dollars) and India (1.7 billion dollars).
Analysts commented that the foreign trade deficit hit a record high in February as a result of faster recovery in US economic activity than trading partners.