US advanced goods trade balance for February 2021. Largest deficit on record
- Prior month $-84.6 billion (revised from preliminary -$83.7B)
- advanced good trade balance $-86.7 billion versus $-84.6 billion. +2.5%
- Exports $130.137B vs 135.28B last month
- Imports $216.856B vs $219.856B last month
- exports -3.8% MoM. YoY -5.4%
- Imports -1.4% MoM. YoY +10.1%
- Exports of food and beverages felt -5.4% after a -3.5% last month
- exports of capital goods fell -5.9% after a 3.9% gain last month
- exports of autos -5.9% versus -5.0% decline last month
- exports of consumer goods fell -5.7% versus -3.8% last month
- imports of industrial supplies increased 3.2% versus +1.6% last month
- imports of autos decline -10.7% versus -4.7% last month
- importance of foods, feeds and beverages felt -4.8% versus +6.4% last month
The trade balance is greater than the previous month which is a bigger negative for GDP (on a month on month change basis). The deficit was also the largest deficit on record. Overall trade, is a drag on US GDP.
