The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the deficit in goods and services for February 2025 was $122.7 billion, a decrease of $8.0 billion from January's revised figure of $130.7 billion.
"The February decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.8 billion to $147.0 billion and a decrease in the services surplus of $0.8 billion to $24.3 billion." The statistics show that February exports totaled $278.5 billion, an increase of $8.0 billion from January. Imports, on the other hand, registered at $401.1 billion, showing little change from the previous month.
Year-to-date, the goods and services deficit had grown by $117.1 billion, or 86.0%, compared to the same period the previous year. Exports have risen by $24.0 billion or 4.6%, while imports have grown by $141.2 billion or 21.4%.
"The average goods and services deficit increased $14.8 billion to $117.1 billion for the three months ending in February." For the same period, the average exports showed an increase of $1.6 billion to $271.8 billion, and the average imports increased by $16.5 billion to $389.0 billion.
Exports of goods went up by $8.3 billion to $181.9 billion in February, driven by increases in sectors such as industrial supplies, capital goods, and automotive products. "Exports of services decreased $0.4 billion to $96.5 billion in February," with declines in sectors such as transport, travel, and government goods.
There were changes also reported in imports, with goods decreasing by $0.5 billion to a total of $328.9 billion. Import categories showed mixed results, with decreased imports in industrial supplies offset by increases in consumer goods and capital goods. Imports of services experienced an increase, reaching $72.2 billion with noted increases in travel and intellectual property charges.
Official revisions were made to January statistics, leading to slight changes in the recorded values for goods and services. The publication also notes changes in trade balances with key partners. "The deficit with Switzerland decreased $4.0 billion to $18.8 billion in February," while the United Kingdom reported a shift from a deficit to a surplus as exports rose significantly.
The press release highlights upcoming updates through the "U.S. International Trade in Goods and Services" report and the FT-900 Annual Revision in June 2025. These changes will include updated statistics for goods going back to 2020 and for services to 2018, incorporating various revisions and adjustments.
For questions or additional details, the Census Bureau's Economic Indicators Division, International Trade Macro Analysis Branch is available for contact.