US goods trade deficit widens by 7% in January

By Tuba Sahin

ANKARA (AA) - US goods trade gap in January widened by $7.2 billion or 7% from a month ago, the US Commerce Department's Census Bureau announced on Monday.

The deficit reached $107.6 billion in January, above the market forecast of $99.6 billion.

Goods exports amounted to $155.8 billion this January, down by $2.8 billion from December 2021 while imports of goods were $262.5 billion, a $4.4 billion rise in the same period.

Wholesale inventories for January were estimated at $798.2 billion by the end of the month, up 0.8% month-on-month and 1.4% year-on-year.

Retail inventories were estimated at $658.1 billion by the end of the month, indicating a 0.2% rise from December 2021 and a 0.7% increase from January 2021.