The U.S. trade deficit narrowed more than expected in January due to a drop in imports, and further declines are likely as the coronavirus outbreak could disrupt the flow of goods and services.
The Commerce Department said on Friday (06.03.2020) that the trade deficit fell 6,7% to US$45.300 billion, with exports also declining.
The December figure was revised slightly to show the gap widening to $48.600 billion, rather than the $48.900 billion initially reported.
In January, imports of goods fell 2,0% to US$203.400 billion. There were declines in imports of industrial supplies and materials, as well as in other goods.
Exports of goods declined 1,0% to $136.400 billion in January. Shipments of capital goods and industrial supplies declined, but exports of vehicles and parts increased.
Source: Reuters
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