Although still deep enough to concern many economists, the U.S. trade deficit in goods and services declined in February to $65.74 billion, the U.S. Commerce Department reported on April 12. Imports valued at $178.73 billion more than offset exports of $112.99 billion.
The department revised January's deficit to $68.59 billion, which together with February's deficit, makes the total so far this year $134.33 billion, $15.95 billion higher than the $118.38 billion mark for the first two months of 2005.
The U.S.'s largest single-country deficit in February was, predictably, with China. It was $13.84 billion -- although that was down just over $4 billion from January's $17.91 deficit with China.