In February 2026, the U.S. trade deficit rose to $57.3 billion, up $2.7 billion from January, as exports reached $314.8 billion and imports $372.1 billion, according to the Bureau of Economic Analysis. The increase was driven by higher goods imports, particularly capital goods, computers, and crude oil.
Year-to-date, the deficit is down 54.8% from 2025, with exports up 11.3% and imports down 9.2%. Trade imbalances widened with Mexico and Taiwan but improved with Switzerland, the Netherlands, and Hong Kong. Overall, stronger exports and weaker imports signal a gradual improvement in the US trade balance. The BEA writes:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $57.3 billion in February, up $2.7 billion from $54.7 billion in January, revised.
U.S. International Trade in Goods and Services Deficit
Deficit:
$57.3 Billion
+4.9%°
Exports:
$314.8 Billion
+4.2%°
Imports:
$372.1 Billion
+4.3%°
Next release: Tuesday, May 5, 2026
(°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes
Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, April 2, 2026
Exports, Imports, and Balance
February exports were $314.8 billion, $12.6 billion more than January exports. February imports were $372.1 billion, $15.2 billion more than January imports.
The February increase in the goods and services deficit reflected an increase in the goods deficit of $2.5 billion to $84.6 billion and a decrease in the services surplus of $0.2 billion to $27.3 billion.
Year-to-date, the goods and services deficit decreased $136.1 billion, or 54.8 percent, from the same period in 2025. Exports increased $62.6 billion or 11.3 percent. Imports decreased $73.5 billion or 9.2 percent.
Three-Month Moving Averages
The average goods and services deficit increased $0.4 billion to $61.6 billion for the three months ending in February.
Average exports increased $8.0 billion to $301.1 billion in February.
Average imports increased $8.4 billion to $362.7 billion in February.
Year-over-year, the average goods and services deficit decreased $53.4 billion from the three months ending in February 2025.
Average exports increased $26.2 billion from February 2025.
Average imports decreased $27.1 billion from February 2025.
Exports
Exports of goods increased $11.5 billion to $206.9 billion in February.
Exports of goods on a Census basis increased $11.5 billion.
Industrial supplies and materials increased $10.2 billion.
Nonmonetary gold increased $8.0 billion.
Natural gas increased $1.3 billion.
Net balance of payments adjustments increased less than $0.1 billion.
