US trade gap shrinks sharply in January on export surge
The United States recorded a significant reduction in its annual goods and services balance of payments, with the official deficit narrowing by 25.3 percent to $US48 billion from December's level as reported Thursday morning (1607 GMT).
Key Points
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1The US trade deficit shrank by more than expected in January to $54.5 billion.
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2This decrease represented a 25.3% reduction compared to December's figures, according to the Commerce Department data released on Thursday.
Developments
Perspectives
The US trade gap narrowed more than expected in January due to a boost from exports, with the total shrinking by 25.3 percent compared to December's level.
— [Mar 12, 21:20] Rthk.hkThe U.S. trade deficit shrank unexpectedly in January as exports rose on an export boost while imports declined slightly amid ongoing tariff uncertainty following a Supreme Court ruling that struck down many of President Trump's previous tariffs, though he has since imposed new temporary duties and launched probes into trading partners to revive his agenda.