U.S. Trade Gap Declined In February
April 12, 2012 by UPI - United Press International, Inc.
WASHINGTON, (UPI) — The U.S. trade deficit dropped in February for the first time in four months, the U.S. Census Bureau said Thursday.
After climbing by $2.2 billion to a revised January figure of $52.5 billion, the trade gap dropped back to $46 billion on exports of $181.2 billion and imports of $227.2 billion, the bureau said.
The trade deficit reflects a slower economy in China, as the trade gap with the export nation fell from $26 billion to $19.4 billion.
With the second most critical U.S. trading partner, the Organization of Petroleum Exporting Countries, the deficit fell from $10 billion to $6.4 billion.
The trade deficit with the European Union also fell significantly, dropping from $8.5 billion to $5.9 billion. With Japan, the gap rose from $6.2 billion to $7 billion.