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US trade deficit widens further in January

The U.S. international trade deficit widened in January as the goods deficit and services surplus posted gains, the U.S. Census Bureau and U.S. Bureau of Economic Analysis said.

The January goods and services deficit rose by 5.0%, or $2.7 billion, to $56.6 billion from a revised $53.9 billion in December 2017 as the goods deficit rose $2.8 billion to $76.5 billion and services surplus edged up $0.1 billion to $19.9 billion.

Exports for January slipped $2.7 billion to $200.9 billion, reflecting a $3 billion decrease to $134.2 billion in exports of goods and $0.3 billion gain to $66.7 billion in exports of services.

Imports edged down less than $0.1 billion to $257.5 billion, with goods imports decreasing $0.2 billion to $210.7 billion and services imports edging up $0.2 billion to $46.8 billion.

Year over year, the goods and services deficit climbed 16.2%, or $7.9 billion from January 2017, reflecting a 5.1% increase in exports and 7.4% increase in imports.