U.S. Trade Gap Widens in January

Exports of capital goods up $1.3 billion.

The U.S. trade deficit increased to $52.6 billion in January, the Commerce Department reported Friday. January exports totaled $180.8 billion while imports increased to $233.4 billion.

The trade deficit of goods and services rose from $50.4 billion in December.

January exports were $2.6 billion more than December exports of $178.2 billion. January imports were $4.7 billion more than December imports of $228.7 billion.

The trade deficit increased $5.0 billion from January 2011 to January 2012. Exports were up $12.9 billion, or 7.7%, while imports rose 8.4% to $18.0 billion.

Among the largest increases in export goods from December to January were capital goods ($1.3 billion); automotive vehicles, parts, and engines ($1.1 billion); and foods, feeds and beverages ($0.1 billion). Decreases occurred in other goods ($0.5 billion); industrial supplies and materials ($0.3 billion); and consumer goods ($0.2 billion).

Imported goods seeing the largest increases from December to January were automotive vehicles, parts and engines ($2.4 billion); industrial supplies and materials ($1.1 billion); foods, feeds and beverages ($0.4 billion); and consumer goods ($0.2 billion). A decrease occurred in other goods ($0.1 billion). Capital goods were virtually unchanged.

Year over year, the largest increases in export goods were seen in capitalgoods ($4.3 billion); industrial supplies and materials ($2.5 billion); automotive vehicles, parts and engines ($1.9 billion); and consumer goods ($0.4 billion), the Commerce Department reported. A decrease occurred in other goods ($0.1 billion). Foods, feeds, and beverages were virtually unchanged.

The January 2011 to January 2012 increase in imports of goods showed increases in industrial supplies and materials ($5.3 billion); automotive vehicles, parts and engines ($3.4 billion); capital goods ($2.8 billion); consumer goods ($1.4 billion); foods, feeds and beverages ($1.2 billion); and other goods ($0.7 billion).

Advanced technology products exports were $22.5 billion in January and imports were $29.2 billion, the Commerce Department reported, resulting in a deficit of $6.7 billion. January exports fell $3.7 billion from the $26.2 billion in December. January imports also dropped, by $5.0 billion to $34.2 billion in December.

Exports of services increased $0.7 billion from December to January, while imports of services increased $0.4 billion in that timeframe.

TAGS: The Economy
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