The trade deficit grew to $131.4 billion in January, the worst monthly deficit on record.


Exports grew by $3.3 billion (+1.2%) while imports grew by $36.6 billion (+10%).

Over the last 30+ years, there has only been 2 occasions where imports grew by 10%+ (July 2020 and January)

Total trade grew to a record $671 billion (+6.3% for the month & +14.7% for the year)

Biggest trade deficits by country:

1) China

2) Switzerland

3) Mexico

Biggest trading partners (imports + exports):

1) Mexico ($69.6 billion)

2) Canada ($65.3 billion)

3) China ($51.5 billion)

Finished metals was the biggest contributor to the change in imports (+$20 billion for the month)