US exports of goods and services dropped USD 3.9B to USD 224.4B in January. Imports rose USD 3.8B to USD 314.1B. Trade deficit widened to USD 89.7B, versus expectation of USD 85.7B.
The January increase in the goods and services deficit reflected an increase in the goods deficit of USD 7.1B to USD 108.9B and a decrease in the services surplus of USD 0.6B to USD 19.2B.
Year-over-year, the goods and services deficit increased USD 24.6 B, or 37.7%, from January 2021. Exports increased USD 29.9 B or 15.4%. Imports increased USD 54.4B or 21.0 %.
