Export of merchandise fell 0.8% year-on-year to $36.61 billion in February, but the trade deficit contracted sequentially to $27.1 billion from $34.68 billion in January, due to a month-on-month slowing of imports. February trade deficit was, however, much higher than $14 billion in the year-ago month which saw both exports and imports fall steeply. According to official data released on Monday, the trade deal with the US, following the scrapping of reciprocal tariffs by the US Supreme Court, could not support merchandise exports in February.