SILVER SPRING, Md. — The U.S. trade deficit grew to $71.1 billion in February, as a decline in exports more than offset a slight dip in imports.
The February gap between what America buys from abroad compared to what it sells abroad jumped 4.8% the revised January deficit of $67.8 billion, the Commerce Department said today.
The increase reflected a 2.6% decline in exports of goods and services to $187.3 billion on a seasonally adjusted basis. That wiped out a 0.7% decline in imports, which ticked down 0.7% from January’s record high of $260.1 billion.