February 202 US International Trade Goods & Services: Wishy Washy Exports but Up Over 12 Months

Were still a little wishy-washy on imports and exports. The trade deficit grew a little, exports rose 👍 and so did imports 😖. Over a year there was movement in the right direction that includes a 2.8% reduction in goods and services deficit. Exports moved up while imports moved up slower. It's not terrible news because there is some positive data mixed in from a trend perspective.

Thrift Stores of the Past Photo in
The Wooded Pathway Gallery
Representing Retail

What we want to see is exports rise based on new infrastructure improvements that increase in the speed, quality, and value of such transactions. Infrastructure, the digital era, robotics, education, AI etc. contribute to investment profit potential and societal-economic growth when outputs are high and profits are reinvested back into the economy (perpetual sustainable development).

(Not so great if someone sells us out for a couple pennies on the share and moves operations overseas.)

If the highest value in the supply chain becomes the U.S. we will draw more resources (i.e. human capital, investment, innovation, etc.). If the trend of decreasing deficits and improving exports continues along with a digital platform change (some argue that so much stuff went online that we bumped up in our national economic platform) we may find more sustained and stable growth. 

We still have issues with political uncertainty (decision-making and compromise around big national goals) as well as geopolitical issues that are part of the environment we live and work in. We also have countries seeking to reemerge so that the environment is in constant flux and should be seen as ever evolving. However, we certainly can work on our stuff to improve our national competitive position and that typically means a plan, focus just over the horizon, and a sustained commitment to national development. 

The following was quoted from, U.S. International Trade in Goods and Services, February 2024

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $68.9 billion in February, up $1.3 billion from $67.6 billion in January, revised.

February exports were $263.0 billion, $5.8 billion more than January exports. February imports were $331.9 billion, $7.1 billion more than January imports.

The February increase in the goods and services deficit reflected a decrease in the goods deficit of $0.3 billion to $91.4 billion and a decrease in the services surplus of $1.6 billion to $22.5 billion.

Year-to-date, the goods and services deficit decreased $3.9 billion, or 2.8 percent, from the same period in 2023. Exports increased $9.3 billion or 1.8 percent. Imports increased $5.4 billion or 0.8 percent.