Research >> Economics
Goods and Services Deficit Increased in January 2014
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The Nation’s international trade deficit in goods and services increased to $39.1 billion in January from $39.0 billion in December (revised), as imports increased more than exports.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total January exports of $192.5 billion and imports of $231.6 billion resulted in a goods and services deficit of $39.1 billion, up from $39.0 billion in December, revised. January exports were $1.2 billion more than December exports of $191.3 billion. January imports were $1.3 billion more than December imports of $230.3 billion.
In January, the goods deficit increased $0.7 billion from December to $59.3 billion, and the services surplus increased $0.5 billion from December to $20.2 billion. Exports of goods increased $1.0 billion to $133.8 billion, and imports of goods increased $1.7 billion to $193.1 billion. Exports of services increased $0.2 billion to $58.7 billion, and imports of services decreased $0.4 billion to $38.5 billion.
The goods and services deficit decreased $3.0 billion from January 2013 to January 2014. Exports were up $5.7 billion, or 3.0 percent, and imports were up $2.6 billion, or 1.2 percent.
Posted: March 7, 2014 Friday 08:30 AM