Click to enlarge.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis said today that the goods and services deficit was $131.4 billion in January, up $33.3 billion from $98.1 billion in December, revised.
This was the highest on record, and is the beginning of a rerun of the previous Trump Administration’s economic mishaps. January exports were $269.8 billion, $3.3 billion more than December exports. January imports were $401.2 billion, $36.6 billion more than December imports.
The January increase in the goods and services deficit reflected an increase in the goods deficit of $33.5 billion to $156.8 billion and an increase in the services surplus of $0.2 billion to $25.4 billion.
Year-over-year, the goods and services deficit under Trump increased $64.5 billion, or 96.5 percent, from January 2024 under Biden. Exports increased $10.6 billion or 4.1%. Imports increased $75.2 billion or 23.1%.
Balances – Census Basis, seasonally adjusted
- The January non-petroleum deficit ($159.8 billion) was the highest on record.
- January imports of goods ($327.1 billion) were the highest on record.
- January imports of industrial supplies and materials ($90.4 billion) were the highest on record.
- January imports of foods, feeds, and beverages ($20.0 billion) were the highest on record.
- January imports of capital goods ($88.4 billion) were the highest on record.
- January imports of other goods ($12.0 billion) were the highest since November 2021 ($12.3 billion).
- January non-petroleum imports ($308.1 billion) were the highest on record.
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.
January U.S. International Trade Deficit Sets Record
Click to enlarge.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis said today that the goods and services deficit was $131.4 billion in January, up $33.3 billion from $98.1 billion in December, revised.
This was the highest on record, and is the beginning of a rerun of the previous Trump Administration’s economic mishaps. January exports were $269.8 billion, $3.3 billion more than December exports. January imports were $401.2 billion, $36.6 billion more than December imports.
The January increase in the goods and services deficit reflected an increase in the goods deficit of $33.5 billion to $156.8 billion and an increase in the services surplus of $0.2 billion to $25.4 billion.
Year-over-year, the goods and services deficit under Trump increased $64.5 billion, or 96.5 percent, from January 2024 under Biden. Exports increased $10.6 billion or 4.1%. Imports increased $75.2 billion or 23.1%.
Balances – Census Basis, 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.