Research >> Economics
Goods and Services Deficit increased in January 2023
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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 $68.3 billion in January, up $1.1 billion from $67.2 billion in December, revised.
January exports were $257.5 billion, $8.5 billion more than December exports. January imports were $325.8 billion, $9.6 billion more than December imports.
The January increase in the goods and services deficit reflected a decrease in the goods deficit of $0.6 billion to $90.1 billion and a decrease in the services surplus of $1.7 billion to $21.8 billion.
Year-over-year, the goods and services deficit decreased $19.2 billion, or 21.9 percent, from January 2022. Exports increased $30.2 billion or 13.3 percent. Imports increased $11.0 billion or 3.5 percent.
The average goods and services deficit decreased $3.0 billion to $65.4 billion for the three months ending
in January.
• Average exports increased $0.3 billion to $252.8 billion in January.
• Average imports decreased $2.7 billion to $318.2 billion in January.
Year-over-year, the average goods and services deficit decreased $16.0 billion from the three months
ending in January 2022.
• Average exports increased $23.5 billion from January 2022.
• Average imports increased $7.5 billion from January 2022.
Posted: March 8, 2023 Wednesday 08:30 AM