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05 Mar, 2021 15:41 05 Mar, 2021 15:41

US foreign trade rises more than expected in January

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America's shortfall in trade with the rest of the world widened at the start of 2020, as import outgrowth continued to outpace overseas sales.

According to the Department of Commerce, in seasonally adjusted terms the foreign trade deficit widened by 1.9% versus the month before to reach $68.2bn (consensus: -$67.5bn).

Exports grew by 1.0% in comparison to the month before, hitting $191.9bn, while imports were 1.2% higher to $260.2bn.

The worsening deficit was entirely on account of the trade balance in goods, where the deficit increased by $1.3bn to -$85.4bn.

It was even worse year-on-year, with the total US trade deficit ballooning by 53.7% or $23.8bn, as exports shrank by 7.6% or $15.7bn even as imports grew 3.2% to $8.1bn.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.