January 2016 International Trade (General)

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The goods and services deficit was $45.7 billion in January, up $1.0 billion from $44.7 billion in December, revised.  January exports were $176.5 billion, $3.8 billion less than December exports. January imports were $222.1 billion, $2.8 billion less than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $1.1 billion to $63.7 billion and an increase in the services surplus of $0.1 billion to $18.0 billion.

Year-over-year, the goods and services deficit increased $2.1 billion (4.8%), from January 2015. Exports decreased $12.5 billion (6.6%). Imports decreased $10.5 billion (4.5%).

Goods by Selected Countries and Areas
The January figures show surpluses (in billions of dollars) with South and Central America ($3.1) and Brazil ($0.6).  Deficits were recorded with China ($31.1), European Union ($12.6), Germany ($5.8), Japan ($5.6), Mexico ($5.6), South Korea ($2.9), Italy ($2.4), India ($2.3), France ($1.5), Canada ($0.5), Saudi Arabia ($0.2), OPEC ($0.2), and United Kingdom ($0.1).

* The deficit with China increased $1.4 billion to $31.1 billion. Exports increased less than $0.1 billion to $8.6 billion and imports increased $1.5 billion to $39.8 billion.

* The deficit with Mexico increased $0.8 billion to $5.6 billion. Exports decreased less than $0.1 billion to $19.5 billion and imports increased $0.8 billion to $25.1 billion. 

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On a global scale, data compiled by the Netherlands Bureau for Economic Policy Analysis showed that world trade volume were essentially unchanged in December (+0.6% year-over-year) while prices rose by 0.3% (-10.6% YoY).

The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.