March 11, 2011
Trade Deficit Grows
The U.S. trade deficit rose to $46.3 billion in January as imports and exports both increased, according to the Bureau of Economic Analysis.
Imports rose to $214.1 billion, an increase of $10.5 billion from December, while exports rose by $4.4 billion to $167.7 billion.
The trade deficit also rose $11.7 billion between January 2010 and January 2011, with exports rising by $23 billion while imports were up $34.7 billion.
The biggest increases in both imports and exports came from industrial supplies and materials and automotive vehicles, parts and engines. The nation also imported more capital and consumer goods, while exporting less in those categories.
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