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Statement from Commerce Secretary John Bryson on International Trade in Goods and Services in February 2012

Thursday, April 12, 2012

U.S. Secretary of Commerce John Bryson issued the following statement today on the release of the February 2012 U.S. International Trade in Goods and Services report (PDF) by the Commerce Department’s Census Bureau and Bureau of Economic Analysis. U.S. goods and services exports in February 2012 were up 0.1 percent from January 2012 to reach a record $181.2 billion. In addition, record highs were seen in U.S. exports of total services ($53.2 billion), and capital goods exports ($43.2 billion).

The trade deficit narrowed by $6.5 billion from January to February, to $46.0 billion. This reflected a $6.0 billion decrease in the goods trade deficit and a $0.5 billion increase in the services surplus.

U.S. goods and services exports year-to-date through February 2012 were up 8.5 percent or $28.5 billion from the same period of 2011 to reach $362.1 billion. This marks the third consecutive month of export growth.

"Today's numbers show that U.S. exports have increased this year, despite some tough economic conditions abroad,” said U.S. Commerce Secretary John Bryson. “Leveling the international playing field allows our great businesses increased access to foreign markets and creates jobs. Earlier this week I visited the Whirlpool Corporation's new facility in Tennessee where they are producing great products and selling them around the globe. We need more stories like that. When U.S. businesses can compete internationally, they win, and this Administration will continue doing everything it can to ensure their success and with that create more job opportunities for American workers."

Fact sheet (PDF)