The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES January 2017
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $48.5 billion in January, up $4.2 billion from $44.3 billion in December, revised. January exports were $192.1 billion, $1.1 billion more than December exports. January imports were $240.6 billion, $5.3 billion more than December imports.The full text of the release on BEA's Web site can be found at www.bea.gov/newsreleases/
deficit of $4.0 billion to $69.7 billion and a decrease in the services surplus of $0.3 billion
to $21.2 billion.
Year-over-year, the goods and services deficit increased $5.1 billion, or 11.8 percent, from
January 2016. Exports increased $13.3 billion or 7.4 percent. Imports increased $18.4 billion or
8.3 percent.
Exports and imports of goods and services were revised for July through December 2016 to incorporate
more comprehensive and updated quarterly and monthly data. In addition to these revisions,
seasonally adjusted data for all months in 2016 were revised so that the totals of the seasonally
adjusted months equal the annual totals.
Revisions to December exports
* Exports of goods were revised downward $0.1 billion.
* Exports of services were revised upward $0.4 billion.
Revisions to December imports
* Imports of goods were revised downward $0.1 billion.
* Imports of services were revised upward $0.4 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)
The January figures show surpluses, in billions of dollars, with Hong Kong ($3.5), South and
Central America ($3.1), Singapore ($1.2), and Brazil ($0.7). Deficits were recorded, in billions
of dollars, with China ($30.2), European Union ($13.4), Germany ($5.7), Mexico ($5.5), Japan
($5.5), Italy ($2.4), OPEC ($2.4), South Korea ($2.3), Canada ($2.0), India ($1.9), France ($1.6),
United Kingdom ($0.9), Taiwan ($0.9), and Saudi Arabia ($0.9).
* The balance with Saudi Arabia shifted from a surplus of $0.4 billion to a deficit of $0.9
billion in January. Exports decreased $0.6 billion to $1.2 billion and imports increased
$0.6 billion to $2.0 billion.
* The deficit with Mexico increased $1.0 billion to $5.5 billion in January. Exports decreased
$0.2 billion to $20.5 billion and imports increased $0.8 billion to $26.0 billion.
Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis
(Exhibit 20)
The fourth quarter figures show surpluses, in billions of dollars, with South and Central America
($17.3), Hong Kong ($7.7), Brazil ($5.9), Singapore ($5.6), United Kingdom ($2.6), and Saudi Arabia
($1.4). Deficits were recorded, in billions of dollars, with China ($78.3), European Union ($25.7),
Mexico ($16.0), Germany ($15.9), Japan ($14.9), India ($8.0), Italy ($7.9), France ($2.8), South
Korea ($2.4), Taiwan ($1.7), Canada ($1.5), and OPEC ($0.2).
* The balance with Canada shifted from a surplus of $3.8 billion to a deficit of $1.5 billion
in the fourth quarter. Exports decreased $1.8 billion to $79.5 billion and imports increased
$3.5 billion to $81.0 billion.
* The deficit with the European Union increased $3.6 billion to $25.7 billion in the fourth
quarter. Exports decreased $0.7 billion to $125.7 billion and imports increased $3.0 billion
to $151.4 billion.
Related Files
- U.S. Trade in Goods and Services by Selected Countries and Areas, 1999-present (Excel)
- Seasonal Adjustment by Selected Countries and Areas, Frequently Asked Questions (PDF)
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