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Thursday, April 9, 2009

Good News Alert! Imports Down, Exports Up, Trade Balance Crash

Okay, first I need to brag as I pretty much nailed we'd see a relative strength in exports (and the dollar) in this DECEMBER 8TH post.

Now that I got that out of the way, Marketwatch reports:

Imports into the United States fell sharply again in February and the U.S. trade deficit narrowed to $26 billion, the smallest since 1999, the Commerce Department reported Thursday. Imports of goods and services fell 5.1% to $152.7 billion, the lowest in more than four years. Exports of goods and services rose 1.6% to $126.8 billion, the first increase since July. The February deficit was much smaller than the $36.2 billion forecast by economists surveyed by MarketWatch. After adjusting for price changes, the real trade gap in goods fell in February to the lowest level since May 2001.

Trade Balance

Import / Export Breakdown by Goods / Services

Trade Balance by Goods / Services

Source: Census