International Trade Balance Tightened in January

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.

The average goods and services deficit decreased $0.7 billion to $45.9 billion for the three months ending in January.

Year-over-year, the average goods and services deficit decreased $10.2 billion from the three months ending in January 2019.

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.

Read the Census/BEA release.

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About Author

Hugo Dante

Hugo Dante is a research associate in the Economic Policy and Research group at the ABA.