by Risk calculated on 08/03/2023 10:38:00
From the Ministry of Commerce reported:
The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $68.3 billion in Januaryup $1.1 billion from $67.2 billion in December, revised.
January exports were $257.5 billion, $8.5 billion more than December exports. January imports were $325.8 billion, $9.6 billion more than December imports.
added emphasis
Click on the graphic to enlarge the image.
Both exports and imports rose in January.
Exports were up 13% year-on-year; imports are up 3% year-on-year.
Imports and exports fell sharply due to COVID-19 and then rebounded.
The second chart shows the US trade deficit, with and without oil.
The blue line is the total deficit, the black line is the oil deficit and the red line is the trade deficit excluding oil products.
It should be noted that net exports of petroleum products are positive.
The trade deficit with China narrowed to $25.2 billion in January from $36.4 billion a year ago.
The trade deficit was close to the consensus forecast.