Overseas Merchandise Trade: February 2010

For the month of February 2010 compared with February 2009 unless otherwise stated:

• Merchandise imports were up 1.3 percent ($37 million) to $3.0 billion.
• Crude oil led the increase in imports.
• Excluding crude oil, imports were down 6.1 percent ($173 million).
• Imports of electrical machinery and equipment, aircraft and parts, and mechanical machinery and equipment were notable downward contributors.
• The level of the imports trend has increased 7.9 percent since September 2009, but is still 19.6 percent lower than its peak in September 2008.
• Merchandise exports were down 3.6 percent ($124 million) to $3.3 billion.
• Meat and edible offal, casein and caseinates, and mechanical machinery and equipment led the fall in exports.
• The level of the exports trend appears to have been rising in recent months, although more data points are required to confirm the direction.
• The trade balance was a surplus of $321 million (9.7 percent of exports).