US trade gap narrows on falling imports
March 11, 2010
The trade deficit shrank to 37.3 billion dollars down from a revised 39.9 billion dollars
The US trade deficit narrowed unexpectedly in January as the economy imported fewer goods and services than the prior month, the government said Thursday.
The Commerce Department said the trade deficit shrank to a seasonally adjusted 37.3 billion dollars, down from a revised 39.9 billion dollars in December.
Most analysts had expected the trade gap would widen to 41.0 billion dollars.
Imports dropped sharply in January, declining 1.7 percent to 180.0 billion dollars. Exports slipped 0.3 percent to 142.7 billion dollars.
US trade volume with the rest of the world declined for the first time since August, by 1.1 percent from December.
The decrease in the trade deficit was partly due to a decline in crude oil imports to their weakest level since February 1999, at 245 million barrels, the Commerce Department noted.
AFP
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