The US trade deficit jumped to $ 89.7 billion in January as the world’s largest economy boosted imports of oil, cars and other goods, as inflationary pressures on prices and falling vaccine exports widened the gap.
In particular, the US deficit in January rose to $ 89.7 billion, setting a new record with a jump of 9.4% from the revised size of 81.9 billion in December, which was also a record high.
Overall, the US trade deficit soared to a record high in 2021 as the country appeared to recover faster than others from the pandemic, which boosted its imports while US exports of goods followed at a slower pace.
In the same vein, US imports in January rose 1.2 percent to $ 314.1 billion, the government said today, exceeding $ 300 billion for the first time in three consecutive months.
The increase in imports is mainly found in cars, oil, gas and copper, with a significant part due to the upward trend in energy and commodity prices last month.
At the same time, exports of US-made products fell 1.7% to $ 224.4 billion, the lowest level in four months. To a large extent the decrease came from the reduction of drug drug loads.
Source: Capital
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