U.S. Trade Deficit Widened in January to $33.26 Billion

The U.S. trade deficit widened again in January, according to data released by the Commerce Department, rising to $33.26 billion from $33.20 billion in December.

The level of both exports and imports rose from the prior month. Imports totaled $122.91 billion, while exports tallied $89.65 billion in January. Imports were $122.4 billion and exports checked in at $89.2 billion in December.

The monthly trade data shows the difference between the amount of goods and services the U.S. imports compared with the amount it exports. When imports exceed exports a deficit exists.

In January, the U.S. exported $64.71 billion in goods and imported $104.21 billion for a deficit of $39.5 billion. The importation of services totaled $18.71 billion, while the U.S. exported $24.95 billion to create a $6.24 billion surplus.

Compared with December, the deficit from goods narrowed, but the surplus from services shrank, leading to an overall widening of the deficit. The U.S. had a $39.57 billion deficit in goods and a surplus of $6.37 billion in services for the month of December.