With imports rising at a faster rate than exports, the Commerce Department released a report on Tuesday showing that the U.S. trade deficit widened more than expected in the month of February.
The Commerce Department said the trade deficit widened to $47.1 billion in February from a revised $45.9 billion in January.
Economists had expected the deficit to widen to $46.2 billion from the $45.7 billion originally reported for the previous month.
The wider than expected deficit was partly due to an increase in the value of imports, which climbed 1.3 percent to $225.1 billion in February from $222.2 billion in January.
Imports of consumer goods showed a substantial increase during the month along with imports of motor vehicles, parts, and engines.
The report also said the value of exports increased by 1 percent to $178.1 billion in February from$176.3 billion in the previous month.
The growth in exports reflected notable increases in exports of gem diamonds, pharmaceutical preparations and other goods.
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