The U.S. monthly international trade deficit increased in January 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $53.9 billion in December (revised) to $56.6 billion in January, as exports decreased more than imports. The previously published December deficit was $53.1 billion. The goods deficit increased $2.8 billion in January to $76.5 billion. The services surplus increased $0.1 billion in January to $19.9 billion.

Exports

Exports of goods and services decreased $2.7 billion, or 1.3 percent, in January to $200.9 billion. Exports of goods decreased $3.0 billion and exports of services increased $0.3 billion.

• The decrease in exports of goods mostly reflected decreases in capital goods ($2.6 billion), in industrial supplies and materials ($1.3 billion), and in other goods ($1.0 billion). An increase in consumer goods ($1.2 billion) partly offset the decreases.
• The largest increase in exports of services was in charges for the use of intellectual property ($0.1 billion). The only decrease was in maintenance and repair services ($0.1 billion).

Imports

Imports of goods and services decreased less than $0.1 billion, or less than 0.1 percent, in January to $257.5 billion. Imports of goods decreased $0.2 billion and imports of services increased $0.2 billion.

• The decrease in imports of goods mostly reflected decreases in capital goods ($1.3 billion) and in consumer goods ($0.9 billion). An increase in industrial supplies and materials ($2.0 billion) partly offset the decreases.
• The largest increase in imports of services was in other business services ($0.2 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services. The largest decrease was in travel (for all purposes including education) ($0.2 billion).

For more information, read the full report.