US trade deficit jumps 4.8% to USD 71.1 billion in February

The US trade deficit grew to USD 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 per cent the revised January deficit of USD 67.8 billion, the Commerce Department said Wednesday.

The increase reflected a 2.6 per cent decline in exports of goods and services to USD 187.3 billion on a seasonally adjusted basis. That wiped out a 0.7 per cent decline in imports, which ticked down 0.7 per cent from January's record high of USD 260.1 billion.