The US Census Bureau and the US Bureau of Economic Analysis through the Department of Commerce reported Thursday that the trade deficit in the US rose from $40.3 billion in December to $46.3 billion in January.
January exports totaled $167.7 billion while total imports stood at $214.1 billion compared to December exports of $163.3 billion and December imports of $203.6 billion.
In January, the goods deficit increased $6.1 billion from December to $59.8 billion, and the services surplus was virtually unchanged at $13.4 billion. Exports of goods increased $4billion to $120.5 billion, and imports of goods increased $10.1 billion to $180.3 billion. Exports of services increased $0.5 billion to $47.2 billion, and imports of services increased $0.4 billion to $33.8 billion.
The goods and services deficit increased $11.7 billion from January 2010 to January 2011. Exports were up $23 billion, or 15.9 percent, and imports were up $34.7 billion, or 19.3 percent.