U.S. trade deficit up 1.9% in January on record goods imports

SILVER SPRING, Md. — The level of imported goods to the U.S. in January reached unprecedented levels and pushed the trade deficit 1.9% higher as the coronavirus pandemic continues to distort global commerce.

The gap between the goods and services the United States sold and what it bought abroad rose to $68.2 billion from $67 billion in December, the Commerce Department reported Friday. Exports rose 1% to $191.9 billion, while imports increased 1.2% to $260.2 billion.

Imports of goods, not including services, increased $3.4 billion to a record $221.1 billion in January, led by pharmaceuticals, which rose $5 billion, or 39%, to $17.4 billion. Imports of services fell about

→ Continue reading at The Spokesman-Review

Related articles

Comments

Share article

Latest articles