United States trade deficit decreases 12.2 %
According to data published by the Department of Commerce, the fall was generated by a sharp reduction in imports of goods
Last February, the United States’ trade deficit decreased by 12.2 % due to a sharp decrease in imports of goods from China and the European Union.
The information was published after the data offered by the Department of Commerce, who assured that the fall in imports is generated by the pandemic, stopping world economic growth driven since the previous recession by trade in goods and services.
This decrease in the trade deficit registered in February was almost in line with analysts’ expectations, which forecast a deficit of $ 40 billion.
Regarding imports of goods from China, its figure translates to 16.7 %, which has been affected by the slowdown in production after the Chinese authorities decreed severe measures such as the confinement of the population and the factories closed earlier in the year in an effort to curb the Covid-19 epidemic.
The trade deficit with the European Union decreased by 14.6%.
K.Villarroel
Source: bancaynegocios
