Goods & Services Deficit Widened to $82.0B in January

Washington, D.C., March 8, 2022-The goods and services deficit was $89.7 billion in January, up $7.7 billion from $82.0 billion in December, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

January exports were $224.4 billion, $3.9 billion less than December exports. January imports were $314.1 billion, $3.8 billion more than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $7.1 billion to $108.9 billion and a decrease in the services surplus of $0.6 billion to $19.2 billion.

Year-over-year, the goods and services deficit increased $24.6 billion, or 37.% , from January 2021. Exports increased $29.9 billion or 15.4 percent. Imports increased $54.4 billion or 21.0%.