Foreign Trade Deficit Increased in the USA

The foreign trade deficit has increased in the USA. Foreign trade deficit was 68.2 billion dollars in January.

The US Department of Commerce announced foreign trade data for the month of January. According to the data announced, the foreign trade deficit of the USA increased by 1.9 percent compared to the previous month and reached 68.2 billion dollars in January. The foreign trade deficit, which was higher than the expectations, was estimated to be 67.5 billion dollars in the said period. The foreign trade deficit was 67 billion dollars in December 2020. The country's exports increased by 1 percent in January compared to the previous month, reaching $ 191.9 billion. Its imports also increased by 1.2 percent in the same period, reaching 260.2 billion dollars. While the trade deficit of the USA with Mexico and Germany increased during the said period, it decreased with China, where relations were problematic. The country's trade deficit with Mexico rose by 15.5 percent in the month in question, compared to the previous month, to $ 11.9 billion. US exports to Mexico were 20.7 billion dollars in this period, while imports from the country were recorded as 32.6 billion dollars. The trade deficit between the USA and Germany also increased by 26.3 percent in January, reaching 7.2 billion dollars. The trade deficit with China, with which the country signed a phase one trade agreement at the beginning of 2020, decreased by 3.2 percent and fell to $ 27.2 billion. Other trade partners with a deficit in the US during the said period include the European Union (20.1 billion dollars), Japan (5.3 billion dollars), Italy (2.9 billion dollars), France (2.3 billion dollars), India. ($ 2.3 billion), Taiwan ($ 2.1 billion), Canada ($ 2 billion), South Korea ($ 900 million) and Singapore ($ 100 million).