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N.Y., most area states see decrease in imports
N.Y., most area states see decrease in imports
Fueled by a 41 percent drop in petroleum-related imports, total U.S. imports for January and February 2016 dropped by $7.8 billion, or 2.3 percent, not seasonally adjusted, compared with the first two months of the prior year, according to a joint report released April 5 by the U.S. Census and the Bureau of Economic Analysis. The value of year-to-date imports by state of destination decreased similarly for New York and most of its neighbors. But because total U.S. exports in January and February 2016 have also decreased, according to the report, the U.S. trade deficit for national goods and services increased by 13.1 percent year-to-date at the end of February 2016 from the same period in 2015 (seasonally adjusted).
4/15/2016 (c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email [email protected].
