Washington, April 13 (IANS/EFE) The US trade deficit declined 2.6 percent in February to $45.8 billion, compared with $47 billion the previous month, the commerce department said Tuesday.
While US 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 US bill for oil imports shrank from $24.51 billion in January to $21.13 billion in February.