WASHINGTON, April 9 (UPI) -- The U.S. trade deficit fell for the fifth consecutive month in February, the U.S. Bureau of Economic Analysis said Thursday.
Exports in February totaled $126.8 billion, while imports totaled $152.7 billion, resulting in a trade deficit of slightly under $26 billion, a decrease from January's trade gap of $36.2 billion, the bureau said.
The goods deficit decreased $10.1 billion to $36.9 billion as exports decreased $2.5 billion to $84.7 billion. Exports of services decreased $400 million to $42.1 billion.
But, imports of goods and services fell by $8.2 billion to $160.9 billion.
From a year ago, exports have fallen 16.9 percent, but imports have fallen faster -- at a rate of 28.8 percent -- as the recession has slowed consumption in the United States and abroad.
In February, the United States recorded shrinking deficits in trades with China, the European Union, Japan and the Organization of Petroleum Exporting Countries. The trade gap grew larger with Hong Kong, Australia, Egypt and Nigeria.
