US Trade Deficit Widens Slightly In January


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.

The December to January increase in exports of goods reflected increases in industrial supplies and materials ($1.2 billion), capital goods ($0.4 billion), and consumer goods ($0.2 billion). Decreases occurred in foods, feeds, and beverages ($0.8 billion); other 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 ($3.7 billion); capital goods ($0.3 billion); and foods, feeds, and beverages ($0.2 billion). Decreases occurred in automotive vehicles, parts, and engines ($1.4 billion); consumer goods ($1.0 billion); and other goods ($0.1 billion).

The January 2013 to January 2014 increase in exports of goods reflected increases in industrial supplies and materials ($2.5 billion); capital goods ($0.3 billion); and foods, feeds, and beverages ($0.3 billion). Decreases occurred in other goods ($0.3 billion) and consumer goods ($0.2 billion). Automotive vehicles, parts, and engines was virtually unchanged.

The January 2013 to January 2014 increase in imports of goods reflected increases in capital goods ($1.9 billion); automotive vehicles, parts, and engines ($1.3 billion); foods, feeds, and beverages ($0.5 billion); and consumer goods ($0.3 billion). Decreases occurred in industrial supplies and materials ($2.9 billion) and other goods ($0.2 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.

U.S. Census Bureau | anna@tradingeconomics.com
3/7/2014 1:48:46 PM