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The U.S. deficit in its foreign trade in goods and services rose to $68.2 billion in January, following a negative balance of $67 billion in December, the Commerce Department reported on Friday.
In January, the value of U.S. exports rose 1% to $191.9 billion, the highest level since February of last year and the eighth consecutive month of increases reflecting the recovery in global demand following the impact of the COVID-19 pandemic.
The value of imports rose 1.2% to $260.2 billion, also marking the eighth consecutive month of increases as government-approved economic stimulus and a resumption of activity encouraged consumer spending.
In January, the U.S. deficit in its goods trade with China fell to $25.25 billion, compared to $27.23 billion in December.
The negative balance in goods trade with the European Union decreased to $16.347 billion, compared to one of $20.092 billion in the previous month.