U.S. Trade Deficit Narrows Significantly in January 2026

Note: This section contains information in English only.
Source: Dukascopy Bank SA
According to the U.S. Census Bureau and Bureau of Economic Analysis, the U.S. goods and services trade deficit significantly narrowed to $54.5 billion in January 2026, down $18.4 billion from a revised $72.9 billion in December 2025. This improvement was driven by rising exports and falling imports. Total exports increased by $15.8 billion (5.5%) to $302.1 billion, mainly due to a $14.6 billion rise in goods exports, including industrial supplies and materials, nonmonetary gold, and capital goods such as computers, while services exports grew slightly by $1.2 billion. Total imports decreased by $2.6 billion (0.7%) to $356.6 billion, with goods imports falling by $2.8 billion—especially consumer goods, pharmaceuticals, and automotive vehicles and parts—while services imports edged up by $0.2 billion.



Compared with January 2025, the trade deficit improved dramatically, shrinking 57.6% year-over-year due to a 10.4% increase in exports and an 11.3% decrease in imports. Regionally, the largest goods trade surpluses were with the United Kingdom and the Netherlands, while the largest deficits were with Vietnam, Taiwan, Mexico, and China. Fourth-quarter 2025 data showed significant overall surpluses with Switzerland and the Netherlands and large deficits with Taiwan and Mexico.
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