Total January exports of $167.7 billion and imports of $214.1 billion resulted in a goods and services deficit of $46.3 billion, up from $40.3 billion in December, revised. January exports were $4.4 billion more than December exports of $163.3 billion. January imports were $10.5 billion more than December imports of $203.6 billion.
In January, the goods deficit increased $6.1 billion from December to $59.8 billion, and the services surplus was virtually unchanged at $13.4 billion. Exports of goods increased $4.0 billion to $120.5 billion, and imports of goods increased $10.1 billion to $180.3 billion. Exports of services increased $0.5 billion to $47.2 billion, and imports of services increased $0.4 billion to $33.8 billion. The goods and services deficit increased $11.7 billion from January 2010 to January 2011. Exports were up $23.0 billion, or 15.
The December to January increase in exports of goods reflected increases in industrial supplies and materials ($3.7 billion); automotive vehicles, parts, and engines ($1.3 billion);and foods, feeds, and beverages ($0.1 billion). Decreases occurred in consumer goods ($0.6 billion); capital goods ($0.4 billion); and other goods ($0.3 billion).
The December to January increase in imports of goods reflected increases in industrial supplies and materials ($4.4 billion); automotive vehicles, parts, and engines ($2.7 billion); capital goods ($2.1 billion); consumer goods ($0.9 billion);
and foods, feeds, and beverages ($0.5 billion). A decrease occurred in other goods ($0.6 billion).
Services exports increased $0.5 billion from December to January. The increase was mostly accounted for by increases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services), travel, and passenger fares. Changes in the other categories of services exports were small.
Services imports increased $0.4 billion from December to January. The increase was mostly accounted for by increases in other transportation (which includes freight and port services), passenger fares, and other private services. Changes in the other categories of services imports were small.