Research >> Economics
Goods and Services Deficit Increased in January 2021
The nation's international trade deficit in goods and services increased to $68.2 billion in January from $67.0 billion in December (revised), as imports increased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $68.2 billion in January, up $1.2 billion from $67.0 billion in December, revised.
January exports were $191.9 billion, $1.8 billion more than December exports. January imports were $260.2 billion, $3.1 billion more than December imports. The January increase in the goods and services deficit reflected an increase in the goods deficit of $1.3 billion to $85.4 billion and an increase in the services surplus of $0.1 billion to $17.2 billion. Year-over-year, the goods and services deficit increased $23.8 billion, or 53.7 percent, from January 2020. Exports decreased $15.7 billion or 7.6 percent. Imports increased $8.1 billion or 3.2 percent.
Three-Month Moving Averages
The average goods and services deficit increased $1.4 billion to $68.1 billion for the three months ending in January.
• Average exports increased $3.4 billion to $188.6 billion in January.
• Average imports increased $4.9 billion to $256.7 billion in January.
Year-over-year, the average goods and services deficit increased $24.4 billion from the three months ending in January 2020.
• Average exports decreased $21.3 billion from January 2020.
• Average imports increased $3.1 billion from January 2020.
Posted: March 5, 2021 Friday 08:30 AM