The US trade deficit in goods rose by $1.2 billion, or almost 2 percent, in January to reach $68.2 billion, data from the Commerce Department's Bureau of Economic Analysis showed on Friday
WASHINGTON (Pakistan Point News / Sputnik - 05th March, 2021) The US trade deficit in goods rose by $1.2 billion, or almost 2 percent, in January to reach $68.2 billion, data from the Commerce Department's Bureau of Economic Analysis showed on Friday.
"The goods and services deficit was $68.2 billion in January, up $1.2 billion from $67.0 billion in December, revised," the Bureau of Economic Analysis said in a news release accompanying the data.
Exports of goods for December stood at $191.9 billion while imports amounted to $260.2 billion, it noted.
The US economy shrank 3.5 percent in 2020, after a 2.2 percent growth in 2019, as the restrictive measures for the coronavirus pandemic continued to take their toll on businesses and activity across the country.
The Bureau of Economic Analysis affirmed the impact of the coronavirus-related measures on the January trade deficit, saying trade in services remained particularly below pre-pandemic levels as the economy struggled to recover from the sharp declines in 2020.
