The U.S. monthly international trade deficit decreased in January 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $48.6 billion in December (revised) to $45.3 billion in January, as imports decreased more than exports. The previously published December deficit was $48.9 billion. The goods deficit decreased $2.6 billion in January to $67.0 billion. The services surplus increased $0.6 billion in January to $21.7 billion.

Exports
Exports of goods and services decreased $0.9 billion, or 0.4 percent, in January to $208.6 billion. Exports of goods decreased $1.4 billion and exports of services increased $0.5 billion.

• The decrease in exports of goods reflected decreases in capital goods ($1.0 billion), in industrial supplies and materials ($1.0 billion), and in other goods ($0.9 billion). An increase in automotive vehicles, parts, and engines ($0.9 billion) partly offset the decreases.
• The increase in exports of services reflected increases in other business services ($0.1 billion), in financial services ($0.1 billion), in maintenance and repair services ($0.1 billion), and in transport ($0.1 billion).

Imports
Imports of goods and services decreased $4.2 billion, or 1.6 percent, in January to $253.9 billion. Imports of goods decreased $4.1 billion and imports of services decreased $0.1 billion.

• The decrease in imports of goods reflected decreases in industrial supplies and materials ($2.4 billion) and in other goods ($1.4 billion).
• The decrease in imports of services reflected a decrease in transport ($0.2 billion).

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