Goods and Services Deficit Grows in January

Goods and Services Deficit Grows in January

Year-over-year, the goods and services deficit increased $23.8 billion, or 53.7%, from January 2020.
The goods and services deficit was $85.5 billion in May, down $1.1 billion from $86.7 billion in April (revised), the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced July 8.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis on Friday announced that the goods and services deficit was $68.2 billion in January, up $1.2 billion from $67 billion in December, revised.

January exports were $191.9 billion, $1.8 billion more than December exports. January imports were $260.2 billion, $3.1 billion more than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $1.3 billion to $85.4 billion and an increase in the services surplus of $0.1 billion to $17.2 billion.

Year-over-year, the goods and services deficit increased $23.8 billion, or 53.7%, from January 2020. Exports decreased $15.7 billion, or 7.6%. Imports increased $8.1 billion, or 3.2%.

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