US trade deficit declined sharply in February 2015

Noam Stiekema

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 […]

US trade deficit

US trade deficitThe 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.

Read this next

Digital Assets

Zero Hash obtains AUSTRAC registration in Australia

Seed CX is expanding the reach of its crypto settlement solution, dubbed ‘Zero Hash,’ which has registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider.

Digital Assets

UK advertising watchdog slams Arsenal over misleading crypto ads

The UK advertising watchdog has reprimanded Arsenal Football Club for promoting crypto assets without warning fans of the potential associated risks.

Retail FX

Swissquote profit slips as crypto revenue falls by two thirds

Swissquote Group, Switzerland’s provider of online trading services, reported that its H1 revenues dropped by nearly a quarter from a year ago as clients’ interest in crypto trading stagnated.

Digital Assets

Crypto.com granted approval to operate business in Cayman Islands

Crypto.com, one of the longest-established crypto platforms, has obtained a new registration in the Cayman Islands under the Virtual Asset Services Providers Act.

Executive Moves

United Fintech hires Mitch Vine and Danny Finnerty to expand US footprint

“United Fintech’s expansion in the US is pivotal to our mission of helping financial institutions digitize and gain access to best in class capital markets focused technology.”

Digital Assets

Ankr backed by Binance Labs after several initiatives in support of BNB Chain

Ankr has made a series of upgrades to the BNB Chain, including Erigon, the Archive Node, and the latest BNB Application Sidechain (BAS) scalability solution.

Retail FX

Financial Commission terminates membership of LordFX

The Financial Commission, an independent self-regulatory compliance specialist for the financial services industry, has expelled forex brokerage LordFX from its membership, according to a FinaCom statement.

Industry News

Match-Prime Liquidity sponsors Cypriot football club Omonoia FC

“We feel privileged to support Omonoia as it’s one of the largest teams in Cyprus, fandom size-wise, and we know it has a special connection with its supporters.”

Institutional FX

XTB’s X Open Hub adds 30 cryptos to white label offering for brokers

Its solutions include deep institutional liquidity on more than 5,000 global instruments, such as indices, shares, forex, cryptocurrencies, commodities, and ETFs, and a white label platform that can be fully customized and branded for each brokerage.

<