US Trade Deficit Widens to $57.3 Billion in February

The United States reported a widening trade deficit in February, reaching $57.3 billion in goods and services, as imports rose faster than exports amid strong demand for technology and energy products. The Commerce Department's Bureau of Economic Analysis and Census Bureau released the data on April 2, showing the gap increased by $2.6 billion from January's revised figure of $54.7 billion, though it fell short of economists' expectations of $61 billion.

Exports climbed to a record $314.8 billion, a 4.2 percent increase from the prior month, driven primarily by higher shipments of industrial supplies and materials, including nonmonetary gold and natural gas. Goods exports hit an all-time high of $206.9 billion, while services exports rose modestly to $107.9 billion, supported by gains in travel, business services and intellectual property charges. Imports, however, surged 4.3 percent to $372.1 billion, with goods imports reaching $291.5 billion. Key drivers included a $7.8 billion jump in capital goods, such as computers, semiconductors and accessories, likely tied to artificial intelligence development and data center construction. Imports of crude oil, pharmaceutical...