EMBARGOED UNTIL RELEASE AT 8:30 a.m. EST, Thursday, March 6, 2025

BEA News: U.S. International Trade in Goods and Services, January 2025 The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today: The U.S. monthly international trade deficit increased in January 2025 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau.  The deficit increased from $98.1 billion in December (revised) to $131.4 billion in January, as imports increased more than exports.   The goods deficit increased $33.5 billion in January to $156.8 billion.  The services surplus increased $0.2 billion in January to $25.4 billion. The full text of the release can be found at www.bea.gov/news/2025/us-international-trade-goods-and-services-january-2025.

EMBARGOED UNTIL RELEASE AT 8:30 a.m. EST, Thursday, March 6, 2025

U.S. International Trade in Goods and Services, January 2025

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $131.4 billion in January, up $33.3 billion from $98.1 billion in December, revised.

U.S. International Trade in Goods and Services Deficit

Deficit:	$131.4 Billion	+34.0%°
Exports:	$269.8 Billion	+1.2%°
Imports:	$401.2 Billion	+10.0%°
Next release: Thursday, April 3, 2025 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, March 6, 2025

Exports, Imports, and Balance (exhibit 1)

January exports were $269.8 billion, $3.3 billion more than December exports. January imports were $401.2 billion, $36.6 billion more than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $33.5 billion to $156.8 billion and an increase in the services surplus of $0.2 billion to $25.4 billion.

Year-over-year, the goods and services deficit increased $64.5 billion, or 96.5 percent, from January 2024. Exports increased $10.6 billion or 4.1 percent. Imports increased $75.2 billion or 23.1 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit increased $19.2 billion to $102.6 billion for the three months ending in January.

• Average exports increased $1.2 billion to $270.0 billion in January.
• Average imports increased $20.4 billion to $372.5 billion in January.

Year-over-year, the average goods and services deficit increased $37.1 billion from the three months ending in January 2024.

• Average exports increased $11.4 billion from January 2024.
• Average imports increased $48.5 billion from January 2024.

Exports (exhibits 3, 6, and 7)

Exports of goods increased $2.7 billion to $172.8 billion in January.

  Exports of goods on a Census basis increased $2.8 billion.

• Capital goods increased $4.2 billion.
  • Civilian aircraft increased $1.1 billion.
  • Semiconductors increased $0.7 billion.
  • Computers increased $0.5 billion.
  • Civilian aircraft engines increased $0.5 billion.
• Consumer goods increased $1.7 billion.
  • Pharmaceutical preparations increased $0.8 billion.
  • Jewelry increased $0.6 billion.
• Other goods decreased $1.3 billion. (See the “Notice” for more information.)
• Foods, feeds, and beverages decreased $1.0 billion.
  • Soybeans decreased $0.8 billion.

  Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.6 billion to $97.0 billion in January.

• Financial services increased $0.2 billion.
• Telecommunications, computer, and information services increased $0.1 billion.
• Other business services increased $0.1 billion.
• Transport increased $0.1 billion.
• Maintenance and repair services increased $0.1 billion.
• Government goods and services decreased $0.3 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods increased $36.2 billion to $329.5 billion in January.

  Imports of goods on a Census basis increased $36.2 billion.

• Industrial supplies and materials increased $23.1 billion.
  • Finished metal shapes increased $20.5 billion.
• Consumer goods increased $6.0 billion.
  • Pharmaceutical preparations increased $5.2 billion.
  • Cell phones and other household goods increased $1.2 billion.
• Capital goods increased $4.6 billion.
  • Computers increased $3.0 billion.
  • Computer accessories increased $1.2 billion.
  • Telecommunications equipment increased $1.1 billion.

  Net balance of payments adjustments decreased $0.1 billion.

Imports of services increased $0.4 billion to $71.7 billion in January.

• Charges for the use of intellectual property increased $0.2 billion.
• Other business services increased $0.1 billion.
• Travel decreased $0.1 billion.

Real Goods in 2017 Dollars – Census Basis (exhibit 11)

The real goods deficit increased $30.8 billion, or 27.5 percent, to $142.9 billion in January, compared to a 27.4 percent increase in the nominal deficit.

• Real exports of goods increased $0.6 billion, or 0.4 percent, to $142.3 billion, compared to a 1.6 percent increase in nominal exports.
• Real imports of goods increased $31.4 billion, or 12.4 percent, to $285.2 billion, compared to a 12.5 percent increase in nominal imports.

Revisions

Exports and imports of goods and services were revised for July through December 2024 to incorporate more comprehensive and updated quarterly and monthly data. In addition to these revisions, seasonally adjusted data for all months of 2024 were revised so that the totals of the seasonally adjusted months equal the annual totals.

Revisions to December exports

• Exports of goods were revised down $0.1 billion.
• Exports of services were revised up $0.1 billion.

Revisions to December imports

• Imports of goods were revised up $0.2 billion.
• Imports of services were revised down $0.6 billion.

Goods by Selected Countries and Areas: 

Monthly – Census Basis (exhibit 19)

The January figures show surpluses, in billions of dollars, with 

• Netherlands ($4.3), 
• South and Central America ($4.3), 
• Belgium ($0.6), and 
• Brazil ($0.6). 

Deficits were recorded, in billions of dollars, with  

1. China ($29.7), 
2. European Union ($25.5), 
3. Switzerland ($22.8), 
4. Mexico ($15.5), 
5. Ireland ($12.4), 
6. Vietnam ($11.9), 
7. Canada ($11.3), 
8. Germany ($7.6), T
9. aiwan ($7.5), 
10. Japan ($7.4), 
11. South Korea ($5.4),
12.  India ($4.2), 
13. Italy ($3.5), 
14. Malaysia ($2.5), 
15. Australia ($2.0), 
16. Hong Kong ($1.4), 
17. France ($1.0), 
18. Singapore ($1.0), I
19. srael ($0.6), 
20. United Kingdom ($0.5), and 
21. Saudi Arabia ($0.1).

• The deficit with Switzerland increased $9.8 billion to $22.8 billion in January. Exports increased $0.6 billion to $1.8 billion and imports increased $10.3 billion to $24.6 billion.
• The deficit with Ireland increased $6.2 billion to $12.4 billion in January. Exports increased less than $0.1 billion to $1.2 billion and imports increased $6.2 billion to $13.6 billion.
• The surplus with South and Central America increased $0.7 billion to $4.3 billion in January. Exports increased $0.3 billion to $18.0 billion and imports decreased $0.5 billion to $13.7 billion.

Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis (exhibit 20)

Statistics on trade in goods and services by country and area are only available quarterly, with a one-month lag. With this release, fourth-quarter figures are now available.

The fourth-quarter figures show surpluses, in billions of dollars, with South and Central America ($19.1), Netherlands ($18.6), Australia ($7.1), Singapore ($7.0), Brazil ($7.0), United Kingdom ($4.9), Hong Kong ($4.3), Saudi Arabia ($3.4), and Belgium ($1.5). 

Deficits were recorded, in billions of dollars, with China ($68.8), Mexico ($48.0), European Union ($38.5), Vietnam ($32.7), Germany ($21.1), Taiwan ($18.9), Japan ($17.0), Switzerland ($15.7), India ($13.2), South Korea ($12.5), Italy ($11.1), Canada ($10.5), Ireland ($7.8), Malaysia ($7.4), France ($4.5), and Israel ($2.1).

• The deficit with Switzerland increased $12.1 billion to $15.7 billion in the fourth quarter. Exports decreased $1.6 billion to $18.8 billion and imports increased $10.6 billion to $34.5 billion.
• The deficit with India increased $3.4 billion to $13.2 billion in the fourth quarter. Exports decreased $0.2 billion to $20.6 billion and imports increased $3.2 billion to $33.8 billion.
• The deficit with the European Union decreased $5.8 billion to $38.5 billion in the fourth quarter. Exports decreased $0.9 billion to $164.8 billion and imports decreased $6.7 billion to $203.3 billion.

All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. 

For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. 

The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. 

The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.

Next release: April 3, 2025, at 8:30 a.m. EDT
U.S. International Trade in Goods and Services, February 2025

Cloud Storage in Danger: Why Governments are Making Our Data Unsafe

The latest developments in the US and the UK, where the government is pressuring Apple to introduce a backdoor into the iCloud, are an alarming signal for the security of our digital data. 

• What is being sold as a measure to fight crime turns out to be a direct attack on data protection and IT security worldwide. 
• But that's just the beginning. 

Anyone who uses cloud services should now at the latest realize the massive risks they are exposed to

 

 
The Issue
Governments Demand Backdoors to Encrypted Data

The British government has invoked the right to access encrypted data in the cloud – and is demanding that Apple and other providers deliberately build security vulnerabilities into their products. Apple responded by withdrawing the Advanced Data Protection (ADP) feature, which enables end-to-end encryption of iCloud data, for UK users.

What Does This Mean in Practice?

• Data you store in the cloud is no longer truly secure
  If a state forces direct access, all data can be decrypted and searched.

• Once a backdoor exists, it's not just there for the “good guys”
  Hackers, intelligence agencies and even competing companies could also exploit it.

• International signal effect
  If the UK takes this step, other countries will follow. The US or China could impose similar requirements. This could mean the end of secure cloud storage.

The Biggest Risks
Why This Is a Fire Hazard For All Users

1. A State Decides on Your Digital Privacy

Governments argue that they are combating terrorism, child abuse and other serious crimes – which initially sounds understandable. But access to encrypted cloud data ultimately means that the state decides what remains private and what does not. Who can guarantee that this access will not also be used for political purposes? How long will it take before authoritarian governments use these backdoors for mass surveillance?

2. Backdoors Are an Invitation to Hackers

A security vulnerability that is deliberately built in is always a danger. No matter how well it is hidden or protected, someone will eventually find a way in. State actors are often not the only ones who want to gain access. Cybercriminals and spies also benefit from every backdoor.

The risk:

• Personal data, financial information and business data could fall into the wrong hands.
• Targeted cyber attacks on individuals and companies become easier.
• Whistleblowers, journalists and members of the opposition are at serious risk.

3. Cloud Storage Is Becoming Insecure Again – a Step Backwards To The 2000s

In recent years, the cloud has been a practical and relatively secure solution for SaaS solutions, backups, data exchange and synchronization between devices. But if providers are now being forced to weaken or even sabotage their encryption, the question arises: is cloud storage still an option at all? Companies and private users need to consider whether they really want to store their sensitive data on servers that governments can search at any time if they have doubts.

4. Companies are losing trust in cloud providers

Cloud services are big business – but if customers can no longer be sure that their data will remain private, they will look for alternatives.

• Companies that need to protect trade secrets may increasingly rely on their own servers.
• Human rights organizations and journalists will look for secure alternatives.
• Consumers who have taken cloud services for granted may look for decentralized solutions.

In short, cloud storage providers risk losing their core competencies: trust and security.

What Can You Do About It?
1. Local Encryption Before Uploading

If you still want to use cloud storage, you should encrypt your data before uploading it. Various tools make it possible to store data securely – even if the provider is forced to open backdoors. Unfortunately, this requires additional effort.

2. Focus on Decentralized Solutions

Store your data locally. Alternatives such as self-hosted server solutions offer control over your own data – without the risk of a provider being forced to install backdoors at some point.

3. Use Your Common Sense

Watch for further developments. The developments in the UK are surely just the beginning. It is likely that other countries will make similar demands. Anyone who uses cloud services should regularly check to see if their provider operates in a country that demands access to encrypted data.

Conclusion
The Cloud Is No Longer What It Used To Be

Cloud storage has long been a convenient solution, but political influence is making it increasingly insecure. 

• Once a state is given the ability to decrypt encrypted data, the floodgates are opened – and the threat to digital privacy worldwide is enormous. 
• Companies in particular should now, at the latest, be thinking about how to protect their data – before it's too late.

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