The US trade deficit widened moderately in January as both imports and exports rose sharply.
The trade deficit widened 1.6% to $68.3 billion, the Commerce Department said on Wednesday (8).
December data was revised to show a trade deficit of US$67.2 billion, instead of the previously reported US$67.4 billion.
Economists polled by Reuters had forecast the trade deficit rising to $68.9 billion.
Part of the widening trade deficit likely reflects further rises in goods and commodity prices.
Imports rose 3.0% to $325.8 billion, with goods up 3.7% to $267.9 billion. Imports of motor vehicles, parts and engines were the highest on record.
Exports soared 3.4% to $257.5 billion. Goods exports jumped 6.0% to US$177.8 billion. Exports of capital goods were the highest ever recorded, as were those of consumer goods, vehicles, parts and engines.
Source: CNN Brasil
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