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March 08, 2023US TRADE BALANCE, JANUARY 2023 Month over month (January 2023 vs December 2022)
The US net trade deficit widened by $1.1 billion (+1.6%) to $68.3 billion. The net goods deficit decreased by $0.6 billion (-0.7%) to $90.1 billion. The net services surplus also decreased by $1.7 billion (-7.3%) to $21.8 billion.
Exports of goods increased $10.1 billion to $177.8 billion. Imports of goods increased $9.5 billion to $267.9 billion.
Exports of services decreased $1.6 billion to $79.7 billion. Imports of services increased $0.1 billion to $57.9 billion.
Year over year (January 2023 vs January 2022)
The US net trade deficit narrowed by $19.2 billion (-21.9%). The net goods deficit narrowed by $17.8 billion (-16.5%). The net services surplus widened by $1.4 billion (+6.8%).
Total exports increased $30.2 billion. Exports of goods increased $21.3 billion. Exports of services increased $8.9 billion.
Total imports increased $11.0 billion. Imports of goods increased $3.5 billion. Imports of services increased $7.5 billion.
REFERENCES
U.S. Census Bureau and U.S. Bureau of Economic Analysis, retrieved from FRED, Federal Reserve Bank of St. Louis;
Press release Data
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