US trade deficit narrows 6.1% in February

ISTANBUL

The US foreign trade deficit fell by 6.1% monthly in February, easing from a record-high deficit in January, according to data released on Thursday.

The US Census Bureau data shows a deficit of $122.7 billion in February, slightly higher than market expectations of $122.5 billion.

January's deficit figure was revised down to $130.7 billion from $131.4 billion.

US exports were up 2.9% month-on-month to $278.5 billion in February.

Imports, on the other hand, posted mostly no change, at $401.1 billion in the same period.

"Year-to-date, the goods and services deficit increased $117.1 billion, or 86.0 percent, from the same period in 2024. Exports increased $24.0 billion or 4.6 percent. Imports increased $141.2 billion or 21.4 percent," the US Census Bureau said.

Trade deficit in goods with EU exceeds $30B

During the same period, the US trade deficit in goods with the EU was $30.9 billion, while the trade deficit with China was $26.6 billion.

Other trade partners with which the US posted a deficit include Switzerland ($18.8 billion), Mexico ($16.8 billion), Ireland ($14 billion), Vietnam ($12.4 billion), Taiwan ($8.7 billion), Germany ($8.1 billion), Canada ($7.3 billion), India ($5.6 billion), Japan ($5.2 billion), Italy ($5.1 billion), South Korea ($4.5 billion), Malaysia ($3.1 billion), Australia ($2.1 billion), France ($1.5 billion), Singapore ($1.1 billion), and Israel ($700 million).

These were among the list of countries to which US President Donald Trump announced reciprocal tariffs on Wednesday.

Meanwhile, the US posted a trade surplus with South and Central America ($4.8 billion), the Netherlands ($4.1 billion), the UK ($3.4 billion), Hong Kong ($2.4 billion), Belgium ($800 million), Brazil ($400 million), and Saudi Arabia ($200 million).