US trade deficit rises 5.1% to $67.4B in January

By Ovunc Kutlu

ISTANBUL (AA) - The US trade deficit rose $3.3 billion, or 5.1%, to reach $67.4 billion in January, according to data from the Commerce Department's Census Bureau.

The market expectation for the figure was to show a deficit of $63.4 billion, following a deficit of $64.2 billion in December.

Exports in January were $257.2 billion, $0.3 billion more than December exports; while imports were $324.6 billion – $3.6 billion more than the month before.

"The January increase in the goods and services deficit reflected an increase in the goods deficit of $3.0 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $24.2 billion," the Census Bureau said Thursday in a statement.

"Year-over-year, the goods and services deficit decreased $2.9 billion, or 4.1 percent, from January 2023. Exports decreased $1.0 billion or 0.4 percent. Imports decreased $3.9 billion or 1.2 percent," it added.