News

US Trade Gap Highest in 8 Months
The US trade deficit widened to $19.4 billion in April of 2020 from a downwardly revised $42.3 billion in March, and in line with market forecasts of $49 billion. It is the biggest trade gap in eight months in part due to the impact of the coronavirus, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted. Exports plunged 20.5% to the lowest reading in 10 years mainly due to travel, passenger cars, civilian aircraft, industrial machinery and oil. Imports sank 13.7% to the lowest since July of 2010, mainly due to passenger cars, travel, transport and pharmaceutical goods. The trade gap with China widened $9 billion to $26 billion while the deficit with Mexico decreased $5.6 billion to $3.3 billion.
Published on 2020-06-04

US Trade Gap Rises Slightly in March
The US trade deficit widened to $44.4 billion in March of 2020 from a downwardly revised $39.8 billion in the previous month and in line with market expectations of a $44 billion gap. Both exports and imports were the lowest since November of 2016 and fell in part, due to the impact of COVID-19, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted. Exports dropped 9.6% to $187.7 billion, mainly due to lower sales of travel and transport services, industrial supplies and materials, crude oil, automotive vehicles, parts, and accessories, and civilian aircraft parts. Imports went down 6.2% to $232.2 billion, mainly due to falling purchases of travel and transport services, cell phones, automotive parts and accessories. The goods deficit with China narrowed to $11.83 billion from $ 16 billion in February.
Published on 2020-05-05

US Trade Gap Lowest in Near 4 Years
The US trade deficit narrowed to USD 39.9 billion in February of 2020 from an upwardly revised USD 45.5 billion in the previous month and compared to market expectations of a USD 40 billion gap. It is the lowest trade deficit since September of 2016. Imports fell 2.5 percent to USD 247.5 billion, the lowest value since October of 2017, due to capital goods, in particular computers, telecommunication equipment and computer accessories; industrial supplies & materials, mainly fuel oil and organic chemicals; and consumer goods. Exports edged down 0.4 percent to USD 207.5 billion, led by declines in sales of consumer goods, namely pharmaceutical preparation and gem diamonds. The goods deficit with China narrowed to USD 16 billion from $ 26.1 billion in January, the lowest since March of 2009 as imports were the smallest since May of 2009 and exports the fewest since June of 2010.
Published on 2020-04-02

US Trade Deficit Narrows More than Expected
The US trade deficit narrowed to USD 45.3 billion in January 2020 from a revised USD 48.6 billion in the previous month and compared to market expectations of a USD 46.1 billion gap. Exports declined by 0.4 percent, led by decreases in sales of capital goods and industrial supplies and materials. Meanwhile, motor vehicle and parts exports increased. Imports dropped at a faster 1.6 percent due to purchases of industrial supplies and materials, as well as imports of other goods. The politically sensitive goods trade deficit with China increased 5.1 percent to USD 26.1 billion, while that with the EU was 20.2 percent smaller at USD 12.2 billion.
Published on 2020-03-06

US Trade Deficit Above Forecasts
The US trade gap increased to $48.9 billion in December of 2019 from an upwardly revised $43.7 billion deficit in the previous month and higher than market expectations of a $48.2 billion shortfall. Exports increased 0.8% to $209.6 billion, the highest value in 7 months, mainly due to sales of crude oil while those of passenger cars declined. Imports jumped 2.7% to $258.5 billion, the biggest increase since May of 2019, mainly due to purchases of crude oil and nonmonetary gold. Considering full 2019, the country's trade deficit fell 1.7% to $616.8 billion, the first decline since 2013. Goods imports shrank 1.7% and exports decreased 1.3%. The goods deficit with China fell 18% to $345.6 billion in 2019, but the trade gap widened 5% to $177.9 billion with the EU; 26.2% to $101.8 billion with Mexico and 42% to $27 billion with Canada.
Published on 2020-02-05

US Trade Gap Lowest in Over 3 Years in November
The US trade deficit narrowed to $43.1 billion in November 2019 from a downwardly revised $46.9 billion gap in the previous month. It compares with market expectations of a $43.8 billion shortfall. The trade gap shrank for the third straight month to the lowest since October 2016. Imports slumped 1% to the lowest value in 2 years due to falling purchases of aircraft, computers and cell phones. Exports increased 0.7% to $209 billion, boosted by sales of drilling and oilfield equipment, jewellery, autos, diamonds and aircraft engines. The goods trade deficit with China narrowed 15.7% to $26.4 billion, with imports dropping 9.2% and exports jumping 13.7%. Year-to-date, the total deficit decreased $3.9 billion. The trade war with China seems to be the main cause behind the lowest trade gap. Although a lower trade deficit is likely to impact positively on GDP growth, concerns remain over the impact of falling imports in consumer spending, the largest component of GDP.
Published on 2020-01-07

US Trade Gap Lowest in 17 Months
The US trade deficit narrowed to USD 47.2 billion in October of 2019 from a downwardly revised USD 51.1 billion in the previous month, and below market expectations of a USD 48.7 billion. It is the lowest trade gap since May of 2018. Imports slumped 1.7 percent to the lowest value in two years amid falling purchases of pharmaceutical preparations, auto parts, vehicles and cell phones Exports edged down 0.2 percent. The goods trade deficit with China narrowed 1.1 percent to USD 31.3 billion, as imports fell a meagre 0.2 percent and exports rose 3.3 percent.
Published on 2019-12-05

US Trade Gap Lowest in 5 Months
The US trade deficit narrowed to USD 52.5 billion in September of 2019 from USD 55 billion in the previous month, matching market expectations. It is the lowest trade gap since April. Imports went down 1.7 percent and exports declined 0.9 percent due to tariffs. Yet, the country recorded its first petroleum surplus since 1978. The politically sensitive goods trade deficit with China edged down 0.4 percent to USD 31.6 billion.
Published on 2019-11-05

US Trade Deficit Widens in August
The US trade deficit widened to USD 54.9 billion in August 2019 from USD 54.0 billion in the previous month and compared to market expectations of USD 54.5 billion. Exports rose 0.2 percent and imports increased at a faster 0.5 percent. The politically sensitive goods trade deficit with China decreased 3.1 percent to USD 31.8 billion in August from USD 32.8 billion in July; while that with the EU narrowed to USD 15.3 billion from a record high of USD 20.1 billion.
Published on 2019-10-04

US Trade Deficit Narrows in July
The US trade deficit narrowed slightly to USD 54.0 billion in July 2019 from a revised USD 55.5 billion in the previous month and compared to market expectations of USD 53.5 billion. Exports rose 0.6 percent while imports fell 0.1 percent.
Published on 2019-09-04

US Trade Deficit Little-Changed in June
The US trade deficit narrowed slightly to USD 55.2 billion in June 2019 from a revised USD 55.3 billion in the previous month and compared to market expectations of USD 54.6 billion. Exports dropped 2.1 percent and imports fell 1.7 percent. The politically sensitive goods trade deficit with China decreased slightly to USD 30.0 in June; while that with Mexico widened to a record high of USD 9.9 billion.
Published on 2019-08-02

US Trade Deficit Largest in 5 Months
The US trade deficit widened to USD 55.5 billion in May 2019 from a revised USD 51.2 billion in the previous month and compared to market expectations of USD 54.0 billion. The politically sensitive goods trade deficit with China increased 12.2 percent to USD 30.2 billion despite the recent increase in import tariffs on Chinese goods. Exports increased 2.0 percent to USD 210.6 billion while imports rose 3.3 percent to USD 266.2 billion.
Published on 2019-07-03

US Trade Deficit Narrows in April
The US trade deficit narrowed to USD 50.8 billion in April 2019 from a revised USD 51.9 billion in the previous month as both exports and imports declined. The goods trade deficit with China increased 29.7 percent to USD 26.9 billion.
Published on 2019-06-06

US Trade Surplus Widens in March
The US trade deficit widened to USD 50.0 billion in March 2019 from an eight-month low of USD 49.3 billion in the previous month and compared to market expectations of USD 50.2 billion. The politically sensitive goods trade deficit with China decreased to a five-year low.
Published on 2019-05-09

US Posts Smallest Trade Deficit in 8 Months
The US trade deficit narrowed to USD 49.4 billion in February 2019, the smallest since June 2018, from USD 51.1 billion in the previous month and compared to market expectations of USD 53.5 billion. Exports surged 1.1 percent while imports rose at a softer 0.2 percent amid ongoing trade negotiations with China.
Published on 2019-04-17

US Trade Gap Narrows More Than Expected
The trade deficit in the United States narrowed to USD 51.1 billion in January of 2019 from an upwardly revised USD 59.9 billion in the previous month, which was the largest since 2008. It compares with market expectations of a USD 57 billion shortfall. The January decrease in the goods and services deficit reflected a fall in the goods deficit of USD 8.2 billion to USD 73.3 billion and an increase in the services surplus of USD 0.5 billion to USD 22.1 billion. Exports rebounded, mainly due to soybeans and motor vehicles and parts and imports were the lowest since June 2018.
Published on 2019-03-27

US Trade Deficit Largest since 2008
The US trade deficit widened to USD 59.8 billion in December of 2018 from an upwardly revised USD 50.3 billion in the previous month and compared with market expectations of a USD 57.9 billion gap. It is the largest deficit since October of 2008 as exports declined for the third month and imports recovered. In 2018, the country's trade gap widened to a 10-year high, with the goods gap with China jumping to a record high despite tariffs on USD 250 billion worth of Chinese imports.
Published on 2019-03-06

US Trade Talks with China Extended for Two More Days
President Trump met with Chinese Vice Premier Liu He on Friday 22 February 2019, with reports pointing to a late-March meeting in Florida and a 1.2 trillion commitment from China to buy US goods. Both sides agreed to extend high-level negotiations in Washington for two more days. Treasury Secretary Mnuchin said that the March meeting may depend on the outcome of the next few days of negotiations.
Published on 2019-02-22

US Trade Gap Lowest in 5 Months
The U.S. trade deficit narrowed to USD 49.3 billion in November of 2018 from an upwardly revised USD 55.7 billion in the previous month and compared with market expectations of a USD 54 billion gap. It is the lowest deficit in five months as imports plunged the most since March of 2016 from a record high value reached in the previous month. The goods deficit decreased USD 6.7 billion to USD 71.6 billion. The services surplus shrank USD 0.3 billion to USD 22.3 billion.
Published on 2019-02-06

US Trade Deficit Reaches 10-Year High
The US trade deficit widened to USD 55.5 billion in October of 2018 from an upwardly revised USD 54.6 billion in the previous month and compared with market expectations of a USD 54.9 billion gap. It is the highest deficit since October of 2008 as lower soybean sales weighed down on exports and imports reached a new record high.
Published on 2018-12-06