Trade Gap Smallest In Over Six Years

Washington, DC, March 13, 2009--The U.S. trade deficit narrowed 9.7 percent in January to its smallest since October 2002, the Commerce Department said.

The monthly trade gap totaled $36.0 billion, below a Wall Street consensus estimate of $38.0 billion. The deficit has now narrowed for a record six consecutive months, the longest previous run being from April through August 2007.

U.S. exports of goods and services fell 5.7 percent from December to the lowest since September 2006 and imports tumbled 6.7 percent to lowest since March 2005.