The U.S. goods and services deficit with its global trading partners fell to $49.4 billion, its lowest level since June 2018, the Commerce Department reported Wednesday.
Economists surveyed by Dow Jones expected the U.S. trade deficit in February to increase to $53.8 billion from $51.1 billion in January.
The decline was due in large part to a 28.2 percent decrease in its goods deficit with China as exports to the nation surged. Exports to China rose $1.6 billion to $9.2 billion while imports fell $1.5 billion to $39.3 billion. That brought the total deficit with China to $30.1 billion.
Overall, exports for the month rose $2.3 billion to $209.7 billion, while imports increased $600 million to $259.1 billion.
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