January Trade Deficit Up 28% Over December

Despite a good showing by exports, the United States suffered a $10.3-billion trade deficit in January, 28% higher than the December figure, the government reported today.

The Commerce Department said the January deficit is far above the $8-billion deficit recorded in December although the United States exported $19.4 billion in goods during the month.

The export total was the best showing since $19.55 billion in sales in September, 1981. However, the 1.4% gain in exports over the December total was swamped by a 9.2% jump in imports, which totaled $29.7 billion during January.

The United States posted a record trading deficit of $123.3 billion last year. Commerce Secretary Malcolm Baldrige said today after release of the dismal January numbers that the trade deficit could well hit $140 billion in 1985.

The further deterioration is expected because of the 9% jump in the value of the dollar since December, which will fuel continued domestic demand for imports, Baldrige said.

Biggest With Japan

As usual, the biggest trade deficit was recorded with Japan--$3.7 billion, up 31% from the December total. The deficit with Western Europe totaled $2 billion while the deficits with Canada and Taiwan each reached $1.1 billion.

The January surge in imports came from increases in passenger cars, telecommunications equipment, and iron and steel mill products.

Sales of passenger cars from Japan totaled $1.06 billion in January, up 1% from the December total. But the increase in car shipments from other countries was even more pronounced, jumping 66%.

Oil imports were down 3.3% during January as the average number of barrels per day dropped to 4.86 million from 4.96 million in December. The price per barrel was also down, dipping to $28.25 in January compared to $28.61 in December.