The U.S. trade deficit in goods narrowed in February amid a rise in exports, which could temper economists' expectations for a sharp slowdown in economic growth in the first quarter.
The goods trade deficit contracted 4.9% to $147.9 billion last month, the Commerce Department's Census Bureau said on Thursday.
A cargo ship full of shipping containers is seen at the port of Oakland as trade tensions escalate over U.S. tariffs, in Oakland, California, U.S., March 6, 2025. REUTERS/Carlos Barria
A sharp widening in the goods trade deficit in January as businesses front-loaded imports to get ahead of tariffs had prompted economists to slash their first-quarter gross domestic product estimates to below a 1.5% annualized rate. The economy grew at a 2.4% pace in the fourth quarter.
Goods exports increased $7 billion to $178.6 billion last month, while imports fell $0.6 billion to $326.5 billion.
Afreximbank and Africa Trading and Distribution Company (ATDC) sign US$500 million facility
Under the facility, Afreximbank will provide ATDC with trade-finance capacity to undertake and scale eligible trading and distribution transactions across the continent
