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.
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