US Trade Deficit Jumps to a Record $89.7 Billion in January 2022

Source: Bureau of Economic Analysis

The US goods and services deficit was posted at a record $89.7 billion in January, up by $7.7 billion from December. SPY is down -0.037%, DXY is down -0.28%.

• The rise in trade deficit reflected a 1.2% gain in imports, which reached $314.1 billion against a 1.7% decline in exports which hit $224.4 billion.
• The January trade balance constituted a goods deficit of $7.1 billion, while the services surplus lessened by $0.6 billion.
• On a year-over-year basis, the goods and services deficit widened by $24.6 billion or 37.7% in January. Imports rose by 21.0% or $54.4 billion, while exports rose by 15.4% or $29.9 billion. 
• In the three months ending in January, the average goods and services deficit rose by $7.6 billion to $83.9 billion. The deficit rose by $17.8 billion in the three months compared to the same period of last year.