United States’ trade deficit with India increases by $76 million

Total trade deficit for the year is more than $4 billion.

By Raif Karerattrade

WASHINGTON, DC: The United States’ trade deficit with India increased by another $76 million in February compared to the month before, inflating Washington’s trade deficit with New Delhi for the year to more than $4 billion, according to data released by the U.S. Census Bureau.

Exports to India rose $43 million to settle at just over $1.5 billion in February, as opposed to just faltering just before the $1.5 billion line in January. Overall, the U.S. has exported a little more than $3 billion worth of goods to India.

Regarding goods moving in the other direction, imports from India decreased by $33 million, from $3.7 billion in January to about $3.7 billion in the following month, totaling more than $7.3 billion for the year-to-date.

Compared to the same period last year, the U.S. deficit with India has widened by an amount of $569 million.

Looking at the United States’ total international trade deficit, the overarching figure ballooned by another $1.2 billion in February while exports and imports also increased compared to the figures that were tabulated a month prior.

While the total international trade deficit tallied up to $45.9 billion in January, February saw the figure rise to $47.1 billion.

February’s total international exports slotted in $178.1 billion, $1.8 billion more than January, whereas February imports totaled $225.1 billion, an entire $3 billion more than January imports.

Compared to the same period in 2015, the year-to-date goods and services deficit increased $10.8 billion, or 13.1 percent.

Meanwhile, exports decreased $20.5 billion or 5.5 percent in 2016 compared to the same period last year, and imports decreased $9.7 billion, or 2.1 percent.

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