Economic Indicators
U.S. goods trade deficit widens moderately in January
2023.02.28 09:05
© Reuters. FILE PHOTO: Sea gulls sit on a lamppost beside shipping containers stacked at the Paul W. Conley Container Terminal in Boston, Massachusetts, U.S., May 9, 2018. REUTERS/Brian Snyder
WASHINGTON (Reuters) – The U.S. trade deficit in goods increased moderately in January, with both imports and exports rising solidly, government data showed on Tuesday.
The goods trade deficit widened 2.0% to $91.5 billion, the Commerce Department said on Tuesday. Goods imports increased $8.8 billion to $265.3 billion. Exports of goods shot up $7.0 billion to $173.8 billion.
A smaller trade deficit was one of the contributors to the economy’s 2.7% annualized growth pace in the fourth quarter.
