The US trade deficit narrowed in January as exports increased, coming off of a turbulent year for domestic importers contending with erratic tariff policy.
The gap in goods and services tradeshrank more than 25% from the prior month to $54.5 billion, Commerce Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a $66 billion deficit.
Exports increased 5.5% in January from the prior month, fueled by outbound shipments of nonmonetary gold and other precious metals, as well as computers and aircraft. Overall imports fell 0.7%, reflecting a decline in pharmaceuticals.
