The trade deficit in the US narrowed to a four-month low of $87.1 billion in April of 2022 from a record of $107.7 billion in March and below market forecasts of a $89.5 billion gap. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas, other petroleum products, soybeans, civilian aircraft, travel and transport. Imports declined 3.4% to $339.7 billion, due to lower purchases of textile apparel and household goods, toys, games, and sporting goods, pharmaceutical preparations, industrial supplies and materials, finished metal shapes, capital goods, computers. The deficit with China decreased $8.5 billion to $34.9 billion, with imports falling by $10.1 billion, the most in seven years as China was under a covid lockdown. The shortfall with Mexico widened $1.7 billion to $11.5 billion. The gap with Russia continued to narrow to $2 billion from $2.6 billion. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States averaged -16630.65 USD Million from 1950 until 2022, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -107651 USD Million in March of 2022. This page provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

Balance of Trade in the United States is expected to be -85000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Balance of Trade is projected to trend around -51000.00 USD Million in 2023 and -55000.00 USD Million in 2024, according to our econometric models.

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United States Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-05-04 12:30 PM Mar $-109.8B $-89.8B $-107B $ -92B
2022-06-07 12:30 PM Apr $-87.1B $-107.7B $-89.5B $-91B
2022-07-07 12:30 PM May $-87.1B $-85B $-86B


Related Last Previous Unit Reference
Balance of Trade -87077.00 -107651.00 USD Million Apr 2022
Current Account -291418.00 -224837.00 USD Million Mar 2022
Exports 252621.00 244112.00 USD Million Apr 2022
Imports 339697.00 351763.00 USD Million Apr 2022
Goods Trade Balance -104310.00 -106701.00 USD Million May 2022

United States Balance of Trade
The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. In 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. China is the top trading partner, accounting for 16 percent of total trade, followed by Canada (15 percent) and Mexico (15 percent).
Actual Previous Highest Lowest Dates Unit Frequency
-87077.00 -107651.00 1946.00 -107651.00 1950 - 2022 USD Million Monthly
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News Stream
US Trade Gap Narrows from Record
The trade deficit in the US narrowed to a four-month low of $87.1 billion in April of 2022 from a record of $107.7 billion in March and below market forecasts of a $89.5 billion gap. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas, other petroleum products, soybeans, civilian aircraft, travel and transport. Imports declined 3.4% to $339.7 billion, due to lower purchases of textile apparel and household goods, toys, games, and sporting goods, pharmaceutical preparations, industrial supplies and materials, finished metal shapes, capital goods, computers. The deficit with China decreased $8.5 billion to $34.9 billion, with imports falling by $10.1 billion, the most in seven years as China was under a covid lockdown. The shortfall with Mexico widened $1.7 billion to $11.5 billion. The gap with Russia continued to narrow to $2 billion from $2.6 billion.
2022-06-07
US Trade Gap Jumps to Fresh Record
The US trade deficit widened sharply to a record high of $109.8 billion in March of 2022, as a broad-based rise in prices, especially for energy lifted imports by 10.3% to a new record high of $351.5 billion. Oil import prices jumped to $87.2 billion a barrel in March compared to $76.37 in the previous month. Also, sharp increases were seen in purchases of finished metal shapes, crude oil, cotton apparel and household goods, footwear, furniture, computers, passenger cars, transport and travel. Exports also reached a new record of $241.7 billion but increased 5.6%, much less than imports. Shipments rose mainly for crude oil, fuel oil, natural gas liquids, autos and parts, transport and travel. Based on not seasonally adjusted data, the trade deficit with China increased to $34 billion from $30.7 billion in February and with Russia, the gap widened to $2.6 billion from $2.1 billion.
2022-05-04
US Trade Gap Holds Near Record Levels
The trade deficit in the US remained near-record levels of $89.18 billion in February of 2022, compared to $89.22 billion in January as imports continue to soar amid robust demand and rising oil prices. Imports were up 1.3% to hit a record high of $317.8 billion, on higher shipments of crude oil, other chemicals and petroleum products, fuel oil, and capital goods. Also, services imports increased to a record $51.6 billion, with about half of it coming from charges for use of intellectual property due to a temporary boost from rights fees to broadcast the Winter Olympics. In contrast, imports of passenger cars declined. Meanwhile, exports increased 1.8% to also hit a fresh all-time high of $228.6 billion, led by sales of fuel oil, metallurgical grade coal, pharmaceutical preparations, and travel. Trade deficits were recorded with China ($41.2 billion), the EU ($17 billion), Mexico ($9.8 billion) and Canada ($6.8 billion). The goods gap with Russia widened to $2.1 from $1.6 billion.
2022-04-05