January Trade Deficit At $68.2B, 1.9% More Than November

The U.S. International Trade in Goods and Services, also known as the FT-900, is published monthly by the Bureau of Economic Analysis with data going back to 1992. The monthly reports include revisions that go back several months. This report details U.S. exports and imports of goods and services.

Here is an excerpt from the latest report:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $68.2 billion in January, up $1.2 billion from $67.0 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 percent, from January 2020. Exports decreased $15.7 billion or 7.6 percent. Imports increased $8.1 billion or 3.2 percent.

Coronavirus (COVID-19) Impact on International Trade in Goods and Services

Exports and imports in January 2021 reflect both the ongoing impact of the COVID-19 pandemic and the continued economic recovery from the sharp declines in 2020. In particular, trade in services remains below pre-pandemic levels. The full economic effects of the pandemic cannot be quantified in the statistics because the impacts are generally embedded in source data and cannot be separately identified. For more information, see “What is the impact of COVID-19 on statistics on trade in services?

Today's headline number of -68.21B was more negative than the Investing.com forecast of -67.50B.

Here is a snapshot that gives a better sense of the extreme volatility of this indicator.

 

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