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Trade gap falls in January

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Trade gap falls in January

Exports at their lowest level since

The Commerce Department reported today that the January international trade deficit decreased by 8.3% in January, following a 17.1% jump in December. The US trade deficit was $41.8 billion during the month. Exports decreased 2.8% to $189.4 billion, and imports decreased 3.9% to $231.2 billion.

Exports were at their lowest point since October of 2012.

Analysts had expected a deficit of $41.0 billion.

The January decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.4 billion to $61.6 billion and an increase in the services surplus of $0.5 billion to $19.9 billion. 

Year-over-year, the goods and services deficit increased $2.9 billion, or 7.5 percent, from January 2014. Exports decreased $3.3 billion or 1.7 percent. Imports decreased $0.4 billion or 0.2 percent. 

For the full report, click here.

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