New York - The US trade deficit edged lower in February after a big jump in January, government data released Friday showed.
The commerce department reported the trade gap shrank to $43bn, down from the revised $44.7bn in January.
The decline, which came after a large 16.7% deficit increase in January, surprised analysts who had projected a deficit of $44.7bn.
US exports grew 0.8 percent to $186bn, strengthened by the exports of industrial goods (up 4.5%) and automobiles (up 1.6%).
Meanwhile, US imports held steady at $228.9bn.
US imports of crude oil, which represent more than 10% of imported goods by the US, dropped 5.6% to $23.6bn.
But US imports of foreign automobiles rose 4.6% between January and February to reach $24.8bn.
On a 12-month basis, the US trade deficit has dropped by 3.5%.