Research >> Economics
Goods and Services Deficit increased in January 2024
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $67.4 billion in January, up $3.3 billion from $64.2 billion in December, revised.
Exports, Imports, and Balance
January exports were $257.2 billion, $0.3 billion more than December exports. January imports were $324.6 billion, $3.6 billion more than December imports.
The January increase in the goods and services deficit reflected an increase in the goods deficit of $3.0 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $24.2 billion.
Year-over-year, the goods and services deficit decreased $2.9 billion, or 4.1 percent, from January 2023. Exports decreased $1.0 billion or 0.4 percent. Imports decreased $3.9 billion or 1.2 percent.
Three-Month Moving Averages
The average goods and services deficit increased $0.7 billion to $64.8 billion for the three months ending in January.
• Average exports decreased $0.2 billion to $256.0 billion in January.
• Average imports increased $0.5 billion to $320.8 billion in January.
Year-over-year, the average goods and services deficit decreased $3.7 billion from the three months ending in January 2023.
• Average exports increased $2.3 billion from January 2023.
• Average imports decreased $1.5 billion from January 2023.
Posted: March 7, 2024 Thursday 08:30 AM