Goods & Services Deficit Widened to $48.5 Billion in January

Washington, DC, March 7, 2017—The goods and services deficit was $48.5 billion in January, up $4.2 billion from $44.3 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 $192.1 billion, $1.1 billion more than December exports. January imports were $240.6 billion, $5.3 billion more than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $4.0 billion to $69.7 billion and a decrease in the services surplus of $0.3 billion to $21.2 billion.

Year-over-year, the goods and services deficit increased $5.1 billion, or 11.8%, from January 2016. Exports increased $13.3 billion or 7.4%. Imports increased $18.4 billion or 8.3%.