
For NAFTA fans: The deficit with Mexico increased $1.0 billion to $5.5 billion in January.
The U.S. Census Bureau has released the U.S. International Trade in Goods and Services report for January 2017. January exports of goods and services were $192.1 billion, the highest since December 2014 when they were $197.5 billion. January imports of goods and services were $240.6 billion, the highest since December 2014 when they were $241.2 billion.
This means a trade deficit of 48.7 billion up $4.2 billion from $44.3 billion in December, including a whopping $10.9 billion in the automotive sectors during January. For NAFTA fans: The deficit with Mexico increased $1.0 billion to $5.5 billion in January. Exports decreased $0.2 billion to $20.5 billion and imports increased $0.8 billion to $26.0 billion. Year-over-year, the goods and services deficit increased $5.1 billion, or 11.8%, from January 2016. Exports increased $13.3 billion or 7.4%. Imports increased $18.4 billion or 8.3%.
January 2017 U.S. Trade Data
- The top exports of goods were automotive parts and accessories at $5.0 billion; passenger cars, new and used at $4.9 billion; and pharmaceutical preparations at $4.5 billion.
- The top exports of services were travel (for all purposes including education) at $17.4 billion, other business services at $12.1 billion, and charges for the use of intellectual property at $10.2 billion.
- The top imports of goods were passenger cars, new and used at $15.9 billion; crude oil at $11.8 billion; and cell phones and other household goods at $9.6 billion.
- The top imports of services were travel (for all purposes including education) at $10.5 billion, transport at $8.5 billion, and other business services at $8.4 billion.
* All statistics are seasonally adjusted.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.