The goods and services trade deficit in the United States reached $67.4 billion in January, rising 5.1% from December, according to the latest report by the Census Bureau on Thursday. Exports grew 0.1% on a monthly basis in January, standing at $257.2 billion. Meanwhile, imports were up 1.1% month-on-month, amounting to $324.6 billion.
Compared to January 2023, the trade deficit decreased by $2.9 billion or 4.1%. Exports decreased $1 billion or 0.4% year-over-year, while imports decreased $3.9 billion or 1.2%.