The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $51.1 billion in January, down $8.8 billion from $59.9 billion in December, revised.

January exports were $207.3 billion, $1.9 billion more than December exports. January imports were $258.5 billion, $6.8 billion less than December imports.

The January decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.2 billion to $73.3 billion and an increase in the services surplus of $0.5 billion to $22.1 billion.

Year-over-year, the goods and services deficit decreased $1.9 billion, or 3.7 percent, from January 2018. Exports increased $6.1 billion or 3.0 percent. Imports increased $4.1 billion or 1.6 percent.

Year-over-year, the average goods and services deficit increased $2.5 billion from the three months ending in January 2018.

Exports of goods increased $1.8 billion to $137.4 billion in January while exports of services increased $0.2 billion to $70 billion.

Imports of goods decreased $6.5 billion to $210.7 billion in January while imports of services decreased $0.3 billion to $47.8 billion.