Goods and services trade deficit in the U.S. edged up to $46.3 billion in January from the revised figure of $40.3 billion in December.
The deficit beat the Wall Street estimate of $41.4 billion and was the widest since June 2010 despite a boom in exports. January exports were $4.4 billion more than December exports of $163.3 billion, the U.S. Bureau of Economic Analysis said in a report on Thursday. Imports were worth $214.1 billion, $10.5 billion more than December imports of $203.6 billion.
Exports were boosted by increases in industrial supplies and materials ($3.7 billion), automotive vehicles, parts, and engines ($1.3 billion), and and foods, feeds, and beverages ($0.1 billion). Consumer goods, capital goods and other goods witnessed a decrease.
Increases in industrial supplies and materials, automotive vehicles, parts, and engines, capital goods and consumer goods accounted for the rise in imports in January.