U.S. Trade Deficit Falls Amid Drop In Imports, Exports.

The U.S. trade deficit declined 2.6 percent in February to $45.8 billion, compared with $47 billion the previous month, the commerce department said.

While U.S. exports fell 1.4 percent to $165.12 billion, imports were also down, slipping 1.7 percent to $214.5 billion.

Import prices have increased by more than 1 percent a month for six months in a row and by 97.7 percent since March 2010, according to the commerce department figures.

The volume of US oil imports dropped to a 12-year low in February, when global crude prices averaged $89.50 per barrel, well short of this month's level of $110 a barrel.

The U.S. bill for oil imports shrank from $24.51 billion in January to $21.13 billion in February.

Source : siliconindia.com