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. Balance of Trade in the United States averaged -14885.33 USD Million from 1950 until 2019, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -67823 USD Million in August of 2006.

Balance of Trade in the United States is expected to be -56000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in the United States to stand at -43000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -63000.00 USD Million in 2020, according to our econometric models.

United States Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-09 12:30 PM Balance of Trade Mar $-50B $-49.3B $-50.2B $ -50.1B
2019-06-06 12:30 PM Balance of Trade Apr $-50.8B $-51.9B $-50.7B $-51.2B
2019-07-03 12:30 PM Balance of Trade May $-55.5B $-51.2B $-54B $-54.3B
2019-08-02 12:30 PM Balance of Trade Jun $-55.2B $-55.3B $-54.6B $-54.7B
2019-09-04 12:30 PM Balance of Trade Jul $-55.2B
2019-10-04 12:30 PM Balance of Trade Aug
2019-11-05 12:30 PM Balance of Trade Sep $ -52.5B



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 from the US dropped USD 4.4 billion from the previous month to USD 206.3 billion in June. Goods exports declined USD 3.9 billion to USD 137.1 billion, due to lower sales of consumer goods (down USD 1.9 billion) such as gem diamonds, pharmaceutical preparations, and jewelry; capital goods (down USD 1.2 billion), including computer accessories, other industrial machinery, and telecommunications equipment; and automotive vehicles, parts, and engines (down USD 0.5 billion) on the back of passenger cars. Exports of services, including travel and transport, decreased USD 0.5 billion to USD 69.2 billion in June.

On a non seasonally adjusted basis, goods exports fell to China (-0.4 percent), Mexico (-8.0 percent), Japan (-6.6 percent), the EU (-3.3 percent), and Canada (-5.1 percent). By contrast, exports to Brazil jumped 8.2 percent.

Imports to the US declined USD 4.6 billion to USD 261.5 billion. Goods imports plunged USD 4.7 billion to USD 212.3 billion due to purchases of industrial supplies and materials (down USD 3.2 billion), in particular crude oil, other petroleum products, and fuel oil; and consumer goods (down USD 0.9 billion) led by cell phones and other household goods while imports of pharmaceutical preparations increased. Imports of services were up USD 0.1 billion to USD 49.2 billion in June.

On a non seasonally adjusted basis, goods imports decreased from all main partners: China (-0.7 percent), Canada (-5.2 percent), Mexico (-4.9 percent), the EU (-9.0 percent), Japan (-0.6 percent), and Brazil (-14.4 percent).

The politically sensitive goods trade deficit with China narrowed slightly to USD 30.0 billion in June from USD 30.2 billion in May; while that with Mexico widened to a record high of USD 9.9 billion from USD 9.6 billion. Also, the trade deficit declined with the EU (USD 14.0 billion from USD 17.2 billion) and Canada (USD 2.9 billion from USD 3.1 billion); but increased with Japan (USD 5.7 billion from USD 5.3 billion).


US Census Bureau | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/2/2019 1:00:29 PM



United States Trade Last Previous Highest Lowest Unit
Balance of Trade -55154.00 -55344.00 1946.00 -67823.00 USD Million [+]
Current Account -130400.00 -143927.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.40 -2.30 0.20 -6.00 percent [+]
Imports 261454.00 266033.00 266816.00 577.00 USD Million [+]
Exports 206300.00 210689.00 213341.00 772.00 USD Million [+]
External Debt 20006050.00 19765887.00 20006050.00 6570168.00 USD Million [+]
Terms of Trade 106.25 105.85 168.28 91.82 Index Points [+]
Capital Flows 1652.00 37565.00 272938.00 -194622.00 USD Million [+]
Foreign Direct Investment 52432.00 53720.00 55831.00 -9988.00 USD Million [+]
Net Long Term Tic Flows 99054.00 4584.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.50 8133.50 8149.05 8133.46 Tonnes [+]
Crude Oil Production 12108.00 12162.00 12162.00 3971.00 BBL/D/1K [+]
Tourism Revenues 20875.00 21387.00 21891.00 6496.00 USD Million [+]
Tourist Arrivals 7019871.00 6227283.00 8364941.00 2094287.00 [+]
Terrorism Index 6.07 5.43 7.39 3.70 [+]
Weapons Sales 10508.00 12485.00 15725.00 1742.00 USD Million [+]
Goods Trade Balance -74161.00 -74802.00 1492.20 -79790.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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). 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 - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-55154.00 -55344.00 1946.00 -67823.00 1950 - 2019 USD Million Monthly
SA




Country Last Previous
Argentina 951.00 Jul/19
Australia 8036.00 Jun/19
Brazil 2290.00 Jul/19
Canada 135.80 Jun/19
China 450.50 Jul/19
Euro Area 20611.70 Jun/19
France -5187.00 Jun/19
Germany 16821.00 Jun/19
India -13430.00 Jul/19
Indonesia -60.00 Jul/19
Italy 5728.50 Jun/19
Japan -249.59 Jul/19
Mexico 2561.00 Jun/19
Netherlands 5158.00 Jun/19
Russia 12508.00 Jun/19
Saudi Arabia 131636.00 Mar/19
Singapore 2831.10 Jul/19
South Africa 4419.50 Jun/19
South Korea 2441.00 Jul/19
Spain -1532700.00 Jun/19
Switzerland 2671.16 Jul/19
Turkey -3177.27 Jun/19
United Kingdom 1779.00 Jun/19
United States -55154.00 Jun/19


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