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U.S. Trade Deficit Shrinks Dramatically

The U.S. trade deficit was $51.1 billion in January, down $8.8 billion (or 15%) from…

  • April 18, 2019

The U.S. trade deficit was $51.1 billion in January, down $8.8 billion (or 15%) from $59.9 billion in December, revised, according to new data from government sources.

January exports were $207.3 billion, $1.9 billion more than December exports. January imports were $258.5 billion, $6.8 billion less than December imports.

The January decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.2 billion to $73.3 billion and an increase in the services surplus of $0.5 billion to $22.1 billion.

Year-over-year, the goods and services deficit decreased $1.9 billion, or 3.7 percent, from January 2018. Exports increased $6.1 billion or 3.0 percent. Imports increased $4.1 billion or 1.6 percent.

Experts cite cheaper fuel and the effects of slowing imports from China as two of the main causes of the decrease.