US Trade deficit fell 16.9% in February

FXStreet (Mumbai) - The commerce department in the US reported a drop of 16.9% in the US Trade deficit to USD 35.4 billion in February. In January, the deficit stood at USD 42.7 billion.

The sharp fall in the deficit was mainly due to a USD 10.2 billion drop in Imports. The drop in the imports was mainly due to west coast ports dispute that interrupted the flow of 20% of imports. The dispute blocked imports from China and Japan, leading to a fall in trade deficit with both countries.

Meanwhile, strength in the USD also led to weak exports.