UPDATE - US trade deficit rises to new high in January

ADDS FIGURES

By Tuba Sahin

ANKARA (AA) - The US goods and services trade deficit hit a record high in January, rising 9.4% from a month ago, according to the US Commerce Department's Census Bureau data on Tuesday.

The January figure hit $89.7 billion, growing $7.7 billion from December's revised figure of $82 billion.

The market forecast in January was for it to come in at $87.1 billion.

"January exports were $224.4 billion, $3.9 billion less than December exports. January imports were $314.1 billion, $3.8 billion more than December imports," said the Census Bureau.

The increase in imports stemmed from automotive vehicles, industrial supplies and materials such as oil, foods and beverages, capital goods, transport and travel.

The US trade deficit with China narrowed $842 million from the previous month to $33.3 billion in January, exports rose $1 billion to $12.8 billion and imports increased $160 million to $46 billion.

The country posted a $18 billion trade gap with the EU, expanding from $16.3 in December.

US exports to the bloc amounted to $25.1 billion and imports totaled $43.1 billion in January.