US trade deficit declined sharply in February 2015
The US trade deficit declined sharply in February 2015 to the lowest level since 2009. Strikes one of the key ports in the country does not seem noticeably suppressed both exports and imports. But the lower deficit because economists can increase their estimates for economic growth in the first quarter, most likely temporary, given the […]
The US trade deficit declined sharply in February 2015 to the lowest level since 2009. Strikes one of the key ports in the country does not seem noticeably suppressed both exports and imports. But the lower deficit because economists can increase their estimates for economic growth in the first quarter, most likely temporary, given the more expensive USD and weak global demand.
In February shortfall shrank by 16.9% to 35.4 billion USD, according to the United States Department of Commerce. The figure is the lowest since October 2009. The January deficit was revised up to 42.7 billion USD against the originally announced 41.8 billion USD.
Economists had expected a deficit of 41.2 billion USD in February. Adjusted for inflation, in the month deficit decreased to 50.8 billion. Dollars to 54.6 billion USD in January. In February, imports decreased by 4.4% to 221.7 billion USD, which is the lowest level since April 2011 imports of petroleum products is the lowest since September 2004.
Exports decreased by 1.6% to 186.2 billion USD, the volume is the smallest of October 2012 exports to Canada and Mexico – major US trading partners – had been lifted in February. The exports to China were 8.9% lower, while the European Union remains unchanged. Imports from China crashes by 18.1%, thus the trade deficit between the two countries declined by 21.2% to 22.5 billion USD.
The strike of workers in ports on the West Coast seems to have slowed minimal dynamics of imports and exports. More expensive USD, weak global demand and lower oil prices also affect the trade balance in February.
