US Trade Deficit Lowest Since October 2009

US trade gap narrowed 17 percent to $35.44 billion in February, from a revised $42.68 billion in January as a dispute at one of the country's main ports depressed both imports and exports..

In February, imports dropped 4.4 percent to $221.7 billion, the lowest since April 2011. Imports of petroleum products were the lowest since September 2004. Imports from China plunged 18.1 percent, pushing the U.S.-China trade deficit down 21.2 percent to $22.5 billion.

Exports declined 1.6 percent to $186.2 billion, the smallest since October 2012. Exports to main trading partners: Canada and Mexico fell by 2.7 percent and 5.3 percent respectively.  Shippments to China dropped 8.9 percent, while those to the European Union were unchanged.

The February figures show surpluses, in billions of dollars, with South and Central America ($3.6), Brazil ($0.8), and OPEC ($0.3). Deficits were recorded, in billions of dollars, with China ($27.3), European Union ($11.0), Germany ($6.3), Mexico ($4.5), Japan ($4.3), Italy ($2.5), South Korea ($2.2), India ($2.0), France ($1.6), Canada ($1.4), United Kingdom ($0.5), and Saudi Arabia ($0.4).    

US Trade Deficit Lowest Since October 2009

US Census Bureau |
4/2/2015 1:52:42 PM