02.04.202012:45:00UTC+00U.S. Trade Deficit Narrows To $39.9 Billion Amid Slump In Imports

Reflecting a steep drop in the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed significantly in the month of February.

The Commerce Department said the trade deficit narrowed to $39.9 billion in February from a revised $45.5 billion in January.

Economists had expected the deficit to narrow to $40.0 billion from the $45.3 billion originally reported for the previous month.

The narrower deficit came as the value of imports plunged by 2.5 percent to $247.5 billion, while the value of exports fell by 0.4 percent to $207.5 billion.