US trade gap narrowed in February

WASHINGTON, April 13 (AFP): The US trade deficit narrowed in February after hitting a seven-month high in January, thanks to a drop in imports in part due to China's new year holidays, official data showed Tuesday. The trade gap fell to a seasonally adjusted $45.8 billion from a revised $47.0 billion in January, the Commerce Department said. The January and February data typically pose a challenge for calculation because of the movable Lunar calendar for the Chinese new year, when economic production in the Asian giant slows sharply. China, the top exporter to the United States, had a trade deficit in February this year. The decline in the US trade gap was led by a 1.7-per cent drop in imports from the prior month. US exports also fell, by 1.4 per cent.