Research >> Economics
Goods and Services Deficit Increased in January 2022
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The nation's international trade deficit in goods and services increased to $89.7 billion in January from $82.0 billion in December (revised), as exports decreased and imports increased. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $89.7 billion in January, up $7.7 billion from $82.0 billion in December, revised.
Exports, Imports, and Balance
January exports were $224.4 billion, $3.9 billion less than December exports. January imports were $314.1 billion, $3.8 billion more than December imports.
The January increase in the goods and services deficit reflected an increase in the goods deficit of $7.1 billion to $108.9 billion and a decrease in the services surplus of $0.6 billion to $19.2 billion.
Year-over-year, the goods and services deficit increased $24.6 billion, or 37.7 percent, from January 2021. Exports increased $29.9 billion or 15.4 percent. Imports increased $54.4 billion or 21.0 percent.
Three-Month Moving Averages
The average goods and services deficit increased $7.6 billion to $83.9 billion for the three months ending in January.
• Average exports decreased $0.1 billion to $225.9 billion in January.
• Average imports increased $7.5 billion to $309.8 billion in January.
Year-over-year, the average goods and services deficit increased $17.8 billion from the three months ending in January 2021.
• Average exports increased $35.7 billion from January 2021.
• Average imports increased $53.6 billion from January 2021.
Posted: March 8, 2022 Tuesday 08:30 AM