Trade Gap Rose In January

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WASHINGTON (UPI) — The U.S. trade deficit rose to $44.4 billion in January, up from $38.1 billion in December, the Bureau of Economic Analysis said Thursday.

December’s trade gap was revised from $38.5 billion to $38.1 billion, the bureau said.

Exports in January fell by $2.2 billion from December’s export total of $186.6 billion. Imports for the month rose by $4.1 billion from December’s $224.8 billion.

Economists had predicted slightly better results with a forecast that called for a deficit of $43 billion on the month.

Among major trading partners, the trade gap with China rose from $24.5 billion to $27.8 billion in January.

With the Organization of Petroleum Exporting Countries the trade gap rose from $3.4 billion to $6.4 billion. With the European Union, the trade deficit came in slightly lower at $8.6 billion after a gap of $8.7 billion in December.

The trade deficit with Japan rose from $5.7 billion to $6.1 billion, the bureau said.

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