US trade gap tops $68 billion, widest in almost a year

In February, the U.S. trade deficit widened to $68.9 billion, marking the largest gap since April of the previous year. Import values surpassed exports by more than anticipated by analysts.

The trade gap on goods increased to $91.4 billion, while the export surplus on services decreased to $22.5 billion, according to Commerce Department data released on Thursday.

The total value of imports reached $331.9 billion, while exports stood at $263 billion, resulting in an overall deficit expansion of 1.9 percent for the month.

After the pandemic, the trade gap soared above $100 billion in 2022 but had been showing signs of normalization until last August when it started rising once more.

Despite discussions surrounding supply chain disruptions and shifts in U.S. trade policy, analysts suggest that most supply disruptions have been resolved, The Hill has reported.

READ MORE: https://thehill.com/business/4574316-us-trade-gap-tops-68-billion-widest-in-almost-a-year/

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