U.S. Services Trade Balance in February After Drop in Imports
Apr 12, 2003
The U.S. services surplus increased $0.2 billion to $3.9 billion in February according to data released by US Bureau of Economic Analysis. The result followed a drop in exports and imports of services. The increase in the services surplus is explained by a larger drop in services imports that retreated by $0.4 billion to $21.1, While services exports dropped by $0.2 billion to $25.0 billion,
February exports of goods and services amounted to $82.4 billion and imports were $122.8 billion that resulted in a goods and services deficit of $40.3 billion, $0.9 billion less than the $41.2 billion in January, revised
Services exports decreased $0.2 billion from January to February. Decreases in travel and passenger fares more than accounted for the decrease. Changes in the other categories of services exports were small.
Services imports decreased $0.4 billion from January to February. Decreases in travel, other transportation (which includes freight and port expenditure services), and passenger fares more than accounted for the decrease. Changes in other categories of services imports were also small.
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