Research >> Economics
Goods and Services Deficit Increased in January 2020
The nation's international trade deficit in goods and services decreased to $45.3 billion in January from $48.6 billion in December (revised), as imports decreased 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 $45.3 billion in January, down $3.3 billion from $48.6 billion in December, revised.
Exports, Imports, and Balance
January exports were $208.6 billion, $0.9 billion less than December exports. January imports were $253.9 billion, $4.2 billion less than December imports. The January decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.6
billion to $67.0 billion and an increase in the services surplus of $0.6 billion to $21.7 billion. Year‐over‐year, the goods and services deficit decreased $8.5 billion, or 15.8 percent, from January 2019. Exports increased $2.3 billion or 1.1 percent. Imports decreased $6.2 billion or 2.4 percent.
Three‐Month Moving Averages
The average goods and services deficit decreased $0.7 billion to $45.9 billion for the three months ending in January.
- Average exports increased $0.7 billion to $208.6 billion in January.
- Average imports decreased less than $0.1 billion to $254.5 billion in January.
Year‐over‐year, the average goods and services deficit decreased $10.2 billion from the three months ending in January 2019.
- Average exports increased $1.9 billion from January 2019.
- Average imports decreased $8.2 billion from January 2019.
Posted: March 6, 2020 Friday 08:30 AM