MercoPress. South Atlantic News Agency

US record trade deficit in February: 61 billion

United States trade deficit reached 61 billion US dollars last February, the highest ever according to the latest release from the Department of Commerce. Market analysts were forecasting 59 billion following January's 58,3 billion US dollars.

This represents a 4,3% increase over January in spite of the fact that US exports also reached a record 100,5 billion US dollars. Imports increased 2,6 billion mainly because of transport and other services.

The US February trade deficit represented a 7,3 billion surplus for Latinamerica and the Caribbean, with an accumulated 14 billion US dollars in the first two months of 2005 compared to 10,8 billion in January, February 2004.

Canada, US main trade partner had a 5,7 billion US dollars surplus in February compared to 6,2 billion in January, accumulating 12 billion compared to 10,8 billion in the two first months of 2004.

Mexico managed a 3,6 billion surplus in February and 2,9 in January totalling 6,57 billion, compared to 6,5 billion in the same period in 2004.

However Argentina's trade surplus with the US dropped to 43 million US dollars from 115 million in January, but contrasts with the 27 million US dollars deficit of the two months a year ago.

Brazil's surplus also dropped from 937 million US dollars in January to 640 million in February. But the overall surplus of the two months of 2005, 1,57 billion US dollars is above the 273 million US dollars of Jan/Feb 2004.

Chile managed 183 million US dollars surplus in February following the 352 million of January. This makes a total 535 million US dollars, far above the 140 million US dollars of the two first months last year.

Venezuela's surplus with the US reached 1,8 billion US dollars in February, down from 1,9 billion in January, totalling 3,7 billion, compared to the 2,85 billion US dollars of Jan/Feb 2004.