U.S. Trade Deficit Widens in January


The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced on March 7th that total January exports of $184.5 billion and imports of $228.9 billion resulted in a goods and services deficit of $44.4 billion, up from $38.1 billion in December, revised. January exports were $2.2 billion less than December exports of $186.6 billion. January imports were $4.1 billion more than December imports of $224.8 billion.

In January, the goods deficit increased $5.7 billion from December to $61.8 billion, and the services surplus decreased $0.6 billion from December to $17.3 billion.  Exports of goods decreased $2.0 billion to $130.8 billion, and imports of goods increased $3.6 billion to $192.5  billion.  Exports of services decreased $0.1 billion to $53.7 billion, and imports of services increased $0.5 billion to $36.4 billion. 

The goods and services deficit decreased $7.8 billion from January 2012 to January 2013.  Exports were up $5.8 billion, or 3.3 percent, and imports were down $2.0 billion, or 0.9 percent.
 
The December to January decrease in exports of goods reflected decreases in industrial supplies and materials ($2.6 billion) and other goods ($1.0 billion).  Increases occurred in capital goods ($0.7 billion); foods, feeds, and beverages ($0.4 billion); consumer goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.2 billion).
 
The December to January increase in imports of goods reflected increases in industrial supplies and materials ($4.0 billion); other goods ($0.7 billion); and capital goods ($0.5 billion). Decreases occurred in consumer goods ($0.9 billion) and automotive vehicles, parts, and engines ($0.7 billion). Foods, feeds, and beverages were virtually unchanged.

 


U.S. Bureau of Economic Analysis, contact@tradingeconomics.com
3/7/2013 1:39:02 PM