US Goods Trade Gap Widens in January
The US goods trade deficit widened to USD 83.74 billion in January 2021, from USD 83.19 billion in the previous month, the advance estimate showed. Imports rose 1.1 percent to USD 218.9 billion, led by purchases of consumer goods (5.4 percent), industrial supplies (1.8 percent), capital goods (0.7 percent), and foods, feeds, & beverages (6.4 percent). Imports of vehicles slumped 4.7 percent. Meanwhile, exports increased 1.4 percent to USD 135.2 billion, boosted by higher sales of industrial supplies (5.5 percent) and capital goods (3.9 percent). Exports were down for vehicles (-5 percent), consumer goods (-3.4 percent), and foods, feeds, & beverages (-4.5 percent).
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