US January Trade Deficit $67.4 Billion... 5% Increase from Previous Month

January Exports Up 0.1% Month-on-Month... Imports Rise 1.1%

The United States' trade deficit in January this year expanded by about 5% compared to the previous month.

On the 7th (local time), the U.S. Department of Commerce announced that the trade deficit in January this year was $67.4 billion, an increase of 5.1% ($3.3 billion) compared to the previous month. The deficit was larger than experts' forecast of a $63.4 billion deficit.

Exports in January rose by 0.1% ($0.3 billion) to $257.2 billion compared to the previous month, but imports increased by 1.1% ($3.6 billion) to $324.6 billion during the same period, leading to an expanded deficit.

The trade deficit with Japan was $7.3 billion, up $2.1 billion from the previous month. The trade deficit with Taiwan increased by $1.4 billion during the same period to $4.8 billion. The trade deficit with Vietnam also rose by $1.5 billion to $8.5 billion.

The U.S. trade deficit had generally been declining since peaking in March 2022 but has rebounded since the second half of last year.

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