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US Trade Gap Widens in May
The trade deficit in the US widened to $71.2 billion in May of 2021 from an upwardly revised $69.1 billion in April and compared to market forecasts of $71.4 billion as the goods deficit increased by $2.3 billion to $89.2 billion and services surplus was up $0.1 billion to $17.9 billion. Imports were up 1.3% to $277.3 billion due to crude oil, fuel oil and lumber; foods, feeds, and beverages; and travel. Exports edged up 0.6% to $206.0 billion, led by pharmaceutical preparations; foods, feeds, and beverages; travel; and charges for the use of intellectual property. The deficit with China decreased $5.1 billion to $27.2 billion but gaps increased with the EU ($2.4 billion to $18.5 billion) and Canada ($1.8 billion to $4.8 billion).
Published on 2021-07-02

US Trade Gap Falls from Record Levels
The US trade gap narrowed to $68.9 billion in April of 2021 from a record high $75 billion gap in March and in line with market expectations. Exports were up 1.1% to $205 billion, due to civilian aircraft ($1.4 billion), crude oil ($1.0 billion), other petroleum products ($0.6 billion), fuel oil ($0.5 billion), travel ($0.2 billion) and transport ($0.2 billion). Imports dropped 1.4% to $273.9 billion due to other textile apparel and household goods ($-0.9 billion), toys, games, and sporting goods ($-0.7 billion), household appliances ($-0.7 billion), automotive parts and accessories ($-0.7 billion) and passenger cars ($-0.5 billion). The deficit with China decreased $7.1 billion to $32.4 billion as exports were up and imports declined.
Published on 2021-06-08

US Posts Largest Trade Gap on Record
The trade deficit in the US widened to a new record of USD 74.4 billion in March 2021, from a revised USD 70.5 billion in the previous month and compared with market expectations of a USD 74.5 billion gap. Imports jumped 6.3 percent to an all-time high as the domestic demand consolidated its recovery amid re-opening efforts. Purchases rose for consumer goods, industrial supplies and materials, capital goods and vehicles, while tourism-related services also saw a solid increase. At the same time, exports rose 6.6 percent to a 13-month high, boosted by sales of industrial supplies and materials, and capital and consumer goods. Exports of services such as travel and transport were also up.
Published on 2021-05-04

US Records Highest Trade Deficit on Record
The trade deficit in the US widened for the second month to USD 71.1 billion in February of 2021 from a revised USD 67.8 billion in the previous month, slightly above market expectations of a USD 70.5 billion gap. It is the biggest trade deficit on record as imports fell less than exports, in another sign the American economy recovers faster than its trading partners from the pandemic hit. The goods deficit widened by USD 2.8 billion to USD 88 billion and the services surplus shrank by USD 0.5 billion to USD 16.9 billion. Exports went down 2.6 percent to USD 187.3 billion, mainly due to other industrial machinery, civilian aircraft, semiconductors, foods and beverages, autos and travel services. Imports fell at a slower 0.7 percent to USD 258.3 billion, due to passenger cars and pharmaceutical preparations. The goods deficit widened with China (to USD 30.3 billion) and Canada (to USD 4 billion) but narrowed with Mexico (to USD 6.8 billion).
Published on 2021-04-07

US Trade Gap Rises More Than Expected
The trade deficit in the US widened to USD 68.2 billion in January of 2021 from a revised USD 67 billion in the previous month, above market expectations of a USD 67.5 billion gap. Exports went up 1 percent to an 11-month high of USD 191.9 billion, due to industrial supplies and materials such as plastic materials and other petroleum products; and capital goods like civilian aircraft and other industrial machinery. Meantime, imports increased at a faster 1.2 percent to USD 260.2 billion, the highest since August of 2019, led by pharmaceutical preparations and insurance services. The goods gap widened to USD 85.4 billion from USD 84.1 billion while the services surplus rose slightly to USD 17.24 billion from USD 17.16 billion.
Published on 2021-03-05

US Trade Deficit Narrows in December
The US trade deficit narrowed to USD 66.6 billion in December of 2020 from a revised USD 69 billion in the previous month and compared to market expectations of USD 65.7 billion. Exports increased 3.4 percent to USD 190 billion, while imports rose 1.5 percent to USD 256.6 billion, both reflecting the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year. In 2020, the trade gap increased by 17.7 percent to USD 101.9 billion, as exports dropped 15.7 percent to USD 2,131.9 and imports fell 9.5 percent to USD 2,810.6. As a percentage of the US GDP, the goods and services deficit were 3.2 percent in 2020, up from 2.7 percent in 2019.
Published on 2021-02-05

US Trade Gap at Over 14-Year High
The trade deficit in the US widened to $68.1 billion in November of 2020 from $63.1 billion in October, well above market expectations of $65.2 billion. It is the biggest trade gap since August of 2006 as exports rose 1.2 percent and imports 2.9 percent. Total exports reached $184.2 billion, boosted by sales of industrial supplies and materials, namely natural gas; foods, feeds, and beverages; travel and transport. Total imports went up to $252.3 billion, mainly due to purchases of cell phones and other household goods; industrial supplies and materials; capital goods; transport and travel while imports of passenger cars decreased. The deficit with China widened $3.5 billion to $30 billion as exports dropped $0.5 billion to $12.6 billion and imports increased $3.0 billion to $42.6 billion.
Published on 2021-01-07

US Trade Deficit Widens in October
The US trade deficit widened to USD 63.1 billion in October of 2020 from a revised USD 62.1 billion in the previous month and compared to market expectations of USD 64.8 billion. Exports increased 2.2 percent to USD 182 billion in 2020, while imports rose 2.1 percent to USD 245.1 billion, reflection both the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year.
Published on 2020-12-04

US Trade Gap in Line with Forecasts
The trade deficit in the US fell to $63.9 billion in September of 2020 from $67 billion in August, in line with market forecasts of $63.8 billion. Exports jumped 2.6 percent to $176.4 billion, boosted by sales of soybeans, telecommunications equipment, industrial engines, computer accessories, and transport, travel and financial services. Still, exports remain below $209.7 billion in February, before the coronavirus pandemic. Imports edged up 0.5 percent to $240.2 billion, close to $246.7 billion in February, boosted by purchases of passenger cars, capital goods, and travel and transport services. The deficit with China decreased $2.1 billion to $24.3 billion. Exports increased $0.8 billion to $12.0 billion and imports decreased $1.3 billion to $36.4 billion. The gap also narrowed with Mexico and the EU.
Published on 2020-11-04

US Trade Gap Highest in 14 Years
The trade gap in the US widened to USD 67.1 billion in August of 2020 from a downwardly revised USD 63.4 billion in July and higher than market forecasts of USD 66.1 billion. It is the biggest trade deficit since a record high in August of 2006 as imports returned to pre-pandemic levels while exports rose at a slower pace. The goods gap reached a record high of USD 83.9 billion while the services surplus shrank to USD 16.8 billion, the lowest since 2012. Imports increased 3.2% to USD 239 billion, the highest level since February, mainly led by purchases of pharmaceutical preparations; passenger cars; and crude oil while declines were seen for nonmonetary gold and finished metal shapes. Exports increased 2.2% to USD 171.9 billion, with sales rising mostly for nonmonetary gold and soybeans while shipments of semiconductors went down. The trade deficit with China fell 6.7% to USD 26.4 billion.
Published on 2020-10-06

US Trade Gap Highest since 2008
The US trade deficit jumped to $63.6 billion in July of 2020 from a downwardly revised $53.5 billion gap in June and above market forecasts of a USD 58 billion deficit. It is the highest trade gap since July of 2008, reflecting an increase in the goods deficit of $9.3 billion to $80.9 billion and a decrease in the services surplus of $0.8 billion to $17.4 billion, the lowest since 2012. Both exports and imports increased in July but remained below pre-pandemic levels, reflecting the ongoing impact of COVID-19, as many businesses continued to operate at limited capacity or ceased operations completely, and the movement of travelers across borders remained restricted. Exports went up 8.1% to $168.1 billion, boosted by sales of cars, crude oil, semicondutors and diamonds. Imports surged 10.9% to $231.7 billion, mainly due to cars, auto parts, civilian aircrafts, cell phones and finished metal shapes
Published on 2020-09-03

US Trade Gap Narrows in June as Exports, Imports Rise
The US trade deficit narrowed to USD 50.7 billion in June 2020 from a revised one-and-a-half-year high of USD 54.8 billion in the previous month and compared to market expectations of USD 50.1 billion. Both exports and imports rebounded firmly as global demand recovers from the coronavirus shock. Exports increased 9.4 percent boosted by sales of vehicles, civilian aircraft, telecommunications equipment, electric apparatus and fuel. Exports of services also contributed to the increase on the back of transport. At the same time, imports advanced 4.7 percent as purchases were up for vehicles, consumer goods such as cell phones and gem diamonds, and capital goods in particular computers, telecommunications equipment and electric apparatus. Imports of services rose due mainly to transport.
Published on 2020-08-05

US Trade Gap Highest since 2018
The US trade deficit widened to $54.6 billion in May of 2020 from an upwardly revised $49.8 billion in April, and higher than forecasts of $53 billion. It is the biggest trade gap since December of 2018 as both exports and imports 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 4.4% to $144.5 billion, the lowest level since November of 2009, led by crude, fuel oil; semiconductors and computer accessories; financial and other business services; and charges for the use of intellectual property. Imports shrank 0.9% to $199.1 billion, the lowest since July of 2010, led by a slump in purchases of automotive vehicles, parts, and engines and capital goods such as computers. The deficit with China widened $1.9 billion to $27.9 billion as exports went up to $10.0 billion and imports increased $2.7 billion to $37.9 billion.
Published on 2020-07-02

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