The US trade deficit has widened as the high cost of oil offset a rise in exports, official figures show.
The deficit was 0.6% larger at $58.2bn (Ј28.9bn) in January, after the cost of oil imports hit a record $84 dollars a barrel, the Commerce Department said.
The growing trade deficit with China, which has been the cause of much political tension, widened by 8.1%.
However, slower US economic growth, coupled with a weak dollar, may shrink the deficit this year, analysts said.
The decline in the value of the dollar relative to other currencies, notably the euro, has helped to make US goods cheaper overseas and therefore more attractive.
This fuelled demand for US products and services and earnings from exports rose to a record $148.2bn.
But the country's imports were also at record highs at $206.4bn, aggravating the trade imbalances.
Oil and petrol imports played a large part in this and contributed to the US trade gap with major oil producing nations, including Saudi Arabia and Nigeria, growing to $15.5bn, up from $12.5bn in December.
The US trade deficit with China grew by 8.1% to $20.3bn.
Some politicians in the US accuse Beijing of keeping its currency artificially low against the dollar to help its exports.
(BBC)
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