Trade deficit in US narrows to $41.8 billion in January

Monday, 09 March 2015 02:00:50 (GMT+3)   |   San Diego
       

The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Friday that the goods and services deficit was $41.8 billion in January, down $3.8 billion from $45.6 billion in December, revised. January exports were $189.4 billion, down $5.6 billion from December. January imports were $231.2 billion, down $9.4 billion from December.

The January decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.4 billion to $61.6 billion and an increase in the services surplus of $0.5 billion to $19.9 billion. Year-over-year, the goods and services deficit increased $2.9 billion, or 7.5 percent, from January 2014. Exports decreased $3.3 billion or 1.7 percent. Imports decreased $0.4 billion or 0.2 percent.

Exports of goods decreased $5.5 billion to $128.7 billion in January: industrial supplies and materials decreased $2.2 billion; fuel oil decreased $0.8 billion; and other petroleum products decreased $0.3 billion.

Imports of goods decreased $8.9 billion to $190.3 billion in January; industrial supplies and materials decreased $6.0 billion; crude oil decreased $4.5 billion; and other petroleum products decreased $0.7 billion.

The January figures show surpluses, in billions of dollars, with South and Central America ($2.2) and Brazil ($0.7). Deficits were recorded, in billions of dollars, with China ($29.3), European Union ($12.1), Germany ($6.7), Japan ($6.5), Mexico ($3.9), South Korea ($3.1), Italy ($2.4), India ($2.1), OPEC ($1.2), France ($1.2), Canada ($0.8), Saudi Arabia ($0.6), and United Kingdom ($0.1).

The deficit with Canada decreased $2.5 billion to $0.8 billion in January. Exports decreased $1.1 billion to $24.6 billion and imports decreased $3.6 billion to $25.4 billion.

The deficit with Mexico decreased $1.8 billion to $3.9 billion in January. Exports increased $0.3 billion to $19.9 billion and imports decreased $1.5 billion to $23.8 billion.

 


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