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Friday, March 5, 2021 Services: (301) 278-9003 Goods: (301) 763-2311 January 2021 Trade Gap is $68.2 Billion U.S. international trade in goods and services The U.S. monthly international trade deficit increased in January 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $67.0 billion in December (revised) to $68.2 billion in January, as imports increased more than exports. The previously published December deficit was $66.6 billion. The goods deficit increased $1.3 billion in January to $85.4 billion. The services surplus increased $0.1 billion in January to $17.2 billion. Exports Exports of goods and services increased $1.8 billion, or 1.0 percent, in January to $191.9 billion. Exports of goods increased $2.1 billion and exports of services decreased $0.3 billion. • The increase in exports of goods reflected increases in industrial supplies and materials ($2.5 billion) and in capital goods ($1.6 billion). A decrease in automotive vehicles, parts, and engines ($0.7 billion) partly offset the increases. • The decrease in exports of services reflected decreases in transport ($0.1 billion) and in travel ($0.1 billion). Imports Imports of goods and services increased $3.1 billion, or 1.2 percent, in January to $260.2 billion. Imports of goods increased $3.4 billion and imports of services decreased $0.3 billion. • The increase in imports of goods reflected an increase in consumer goods ($3.7 billion). A decrease in automotive vehicles, parts, and engines ($1.6 billion) partly offset the increase. • The decrease in imports of services reflected decreases in transport ($0.4 billion) and in travel ($0.1 billion). An increase in insurance services ($0.1 billion) partly offset the decreases. The trade statistics reflect the impact of the COVID-19 pandemic and the continued economic recovery. The effects of the pandemic cannot be separately identified in the statistics. For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, January 2021. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the March 5 news release, U.S. International Trade in Goods and Services, January 2021, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is April 7, 2021.
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