WASHINGTON DC - The US trade deficit hit another record in January coming in at $68.51 billion (€57.49bn; £39.45bn), expanding 5.3% beyond the December shortfall, the Commerce Department reported.
Exports of goods and services rose 2.5% to a record $114.47bn but imports rose a faster 3.5%, to a record $182.88bn. The trade deficit with China, at $17.91bn, narrowed from the record $20.51bn shortfall of October.
The trade gap last year was a record $723bn and this year's deficit could widen further. The January gap was $10.24bn wider than a year earlier.