Unexpectedly small U.S. trade deficit shrinks to $54.5 billion in January

The decline was unexpectedly large. Analysts had expected an average U.S. trade deficit of $66 billion in January, according to Bloomberg.

Imports to the United States fell 0.7 percent in January compared with December, to $356.6 billion, while U.S. exports rose 5.5 percent to $302.1 billion.