US trade deficit shrinks 3.4% to $43 billion

The US trade deficit decreased by 3.4 percent in February to USD 43 billion, the Commerce Department said.

Last Updated: Apr 06, 2013, 13:07 PM IST

Washington: The US trade deficit decreased by 3.4 percent in February to USD 43 billion, the Commerce Department said.

Exports of goods and services rose 0.8 percent from January to USD 184.96 billion - close to the record level of December 2012 - and imports were practically unchanged at USD 228.92 billion.

The cumulative trade deficit for the first two months of 2013 was USD 87.42 billion, compared with USD 96.87 billion during the same period last year.

February's deficit figure was in line with most analysts' forecasts.

Besides the strength in exports, another key figure in reducing the trade deficit was a drop in the volume of oil imports to 205 million barrels, the lowest level since 1996.

IANS