US foreign trade deficit narrows in January

ISTANBUL

The goods and services deficit of the US saw a significant decrease of 25.3% to $54.5 billion in January as exports climbed to $302.1 billion, up 5.5%, according to data released Thursday by the Bureau of Economic Analysis.

The January figures showed that exports increased by $15.8 billion from December, while imports edged down by 0.7% to $356.6 billion.

The decrease in the overall deficit was driven primarily by a $17.5 billion drop in the goods deficit, which reached $81.8 billion, and a $1 billion increase in the services surplus to $27.3 billion.

Exports of goods rose by $14.6 billion to $195.5 billion, fueled by a $9.4 billion increase in industrial supplies and materials and a $5.4 billion rise in capital goods, including computers and civilian aircraft.

Imports of goods decreased by $2.8 billion to $277.3 billion, as consumer goods like pharmaceutical preparations and automotive vehicles saw declines.

ISTANBUL

The January figures showed that exports increased by $15.8 billion from December, while imports edged down by 0.7% to $356.6 billion.

The decrease in the overall deficit was driven primarily by a $17.5 billion drop in the goods deficit, which reached $81.8 billion, and a $1 billion increase in the services surplus to $27.3 billion.

Imports of goods decreased by $2.8 billion to $277.3 billion, as consumer goods like pharmaceutical preparations and automotive vehicles saw declines.