U.S. - trade deficit in January grew more than expected
Exports for the first time after 3 months decreased by 1.2% to 184.5 mld.USD after oil exports and gold corrected December growth. Exports of industrial equipment fell by 2.63 mld.USD.
Imports in January grew by 1.8% to 228.9 mld.USD. Oil imports to the U.S. rose to 8.41 million barrels compared to 7.19 million in December. The value of imported oil rose from December's 21.2 to 24.5 mld.USD.
Excluding petroleum products, the overall deficit increased only slightly to 20.1 compared to December's 19.5 mld.USD mld.USD.
Increased import of capital goods, including mining and telecommunications equipment. Decreased interest in foreign consumer goods.
Adjusted for the impact of changes in prices increased foreign trade deficit of almost 10% to 48 mld.USD. This information is used in the calculation of GDP. The January figure is close to the average for 4Q12, suggesting only a minor effect on the trade balance in real GDP.
Significantly increased deficit with South Korea, reaching the highest level since November 2004. Most of the last four years also grew deficit with Canada. Deficit with China has grown year on year by 1.8 billion to 27.8 mld.USD final.
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