WASHINGTON–The nation’s trade deficit in home products increased 2 percent in February, lower than the 5.6 percent for the economy’s deficit in all goods and services.
The U.S. Commerce Department reported this morning that the deficit—the difference or imbalance between imports and exports—of 15 categories of home goods reached $2.61 billion during the month, compared with almost $2.56 billion in January.
The imbalance in the deficit was most pronounced in major appliances, including refrigerators and freezers, household laundry equipment, dishwashers, compactors and others. At the same time, the deficit declined in several categories, including upholstered furniture, mattresses, bedding and bath textiles, and residential lighting fixtures.
Regardless of the increase or decrease in the deficit, all categories continued to show imports far outweighing exports. In some cases, the imbalance is enormous. For example, the United States imported nearly $632 million in bedding and bath textiles, while exporting only $39.4 million.
Likewise, in household cooking appliances, the United States imported almost $312 million, and exported $53 million.
