Goods & Services Deficit Widened by $3.3 Billion in January

Washington, DC, March 7, 2024-The goods and services deficit was $67.4 billion in January, up $3.3 billion from $64.2 billion in December, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

January exports were $257.2 billion, $0.3 billion more than December exports. January imports were $324.6 billion, $3.6 billion more than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $3.0 billion to $91.6 billion and a decrease in the services surplus of $0.3 billion to $24.2 billion.

Year-over-year, the goods and services deficit decreased $2.9 billion, or 4.1%, from January 2023. Exports decreased $1.0 billion or 0.4%. Imports decreased $3.9 billion or 1.2%.