Trade Deficit Widened in January as Exports Dropped

Washington, DC, March 4, 2016—The goods and services deficit was $45.7 billion in January, up $1.0 billion from $44.7 billion in December, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced through the Department of Commerce.

January exports were $176.5 billion, $3.8 billion less than December exports. January imports were $222.1 billion, $2.8 billion less than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $1.1 billion to $63.7 billion and an increase in the services surplus of $0.1 billion to $18.0 billion.

Year-over-year, the goods and services deficit increased $2.1 billion, or 4.8%, from January 2015. Exports decreased $12.5 billion or 6.6%. Imports decreased $10.5 billion or 4.5%.