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. Balance of Trade in the United States averaged -14691.74 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 -49000.00 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 -55000.00 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
2019-02-06 01:30 PM Balance of Trade $-49.3B $-55.7B $-54B $-53B
2019-03-06 01:30 PM Balance of Trade $-59.8B $-50.3B $-57.9B $-56B
2019-03-27 12:30 PM Balance of Trade $-51.1B $-59.9B $-57B $-59B
2019-04-17 12:30 PM Balance of Trade $-49.4B $-51.1B $-53.5B $-52.8B
2019-05-09 12:30 PM Balance of Trade $-49.4B $-52B
2019-06-06 12:30 PM Balance of Trade
2019-07-03 12:30 PM Balance of Trade



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.

Exports from the US rose USD 2.3 billion from the previous month to USD 209.7 billion in February. Goods exports increased USD 2.1 billion to USD 139.5 billion, boosted by sales of civilian aircraft (up USD 2.2 billion), and automotive vehicles, parts, and engines (up USD 0.6 billion). By contrast, exports of industrial supplies and materials decreased USD 0.4 billion. In addition, exports of services, including transport and other business services, were up USD 0.2 billion to USD 70.1 billion in February.

On a non seasonally adjusted basis, exports rose to China (18.2 percent), Canada (2.1 percent) and the EU (2.5 percent), but fell to Japan (-13.9 percent), Mexico (-7.8 percent), Brazil (-13.1 percent) and OPEC (-3.3 percent).

Imports to the US increased USD 0.6 billion to USD 259.1 billion. Goods imports advanced USD 0.9 billion to USD 211.6 billion, as purchases of cell phones and other household goods rose USD 2.1 billion and those of other goods increased USD 0.5 billion. Meanwhile, imports of industrial supplies and materials fell USD 1.2 billion. Imports of services, such as transport and travel, declined USD 0.3 billion to USD 47.5 billion in February.

On a non seasonally adjusted basis, imports fell from all major trade partners: China (-20.2 percent), the EU (-4.6 percent), Japan (-1.2 percent), Canada (-0.6 percent), Mexico (-0.2 percent), Brazil (-13.3 percent) and OPEC (-33.7 percent).

The politically sensitive goods trade deficit with China decreased to USD 24.8 billion in February from USD 34.5 billion in January. The trade gap also narrowed with the EU (USD 9.2 billion from USD 11.7 billion) and Canada (USD 0.1 billion from USD 0.7 billion), but widened with Mexico (USD 7.4 billion from USD 5.8 billion) and Japan (USD 5.9 billion from USD 5.2 billion). With OPEC, the US posted a surplus of USD 0.4 billion, compared to a USD 1.3 billion deficit in the same month a year earlier.


US Census Bureau | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/17/2019 1:18:04 PM



United States Trade Last Previous Highest Lowest Unit
Balance of Trade -49382.00 -51134.00 1946.00 -67823.00 USD Million [+]
Current Account -134377.00 -126604.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.40 -2.30 0.20 -6.00 percent [+]
Imports 259073.00 258488.00 267232.00 577.00 USD Million [+]
Exports 209690.00 207355.00 212855.00 772.00 USD Million [+]
External Debt 19765887.00 19556588.00 19765887.00 6570168.00 USD Million [+]
Terms of Trade 106.43 106.60 168.28 91.82 Index Points [+]
Capital Flows -21640.00 -143664.00 272938.00 -194622.00 USD Million [+]
Foreign Direct Investment 50955.00 51938.00 51938.00 -9988.00 USD Million [+]
Net Long Term Tic Flows 51884.00 -7237.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.50 8133.46 8149.05 8133.46 Tonnes [+]
Crude Oil Production 11871.00 11849.00 11900.00 3971.00 BBL/D/1K [+]
Terrorism Index 6.07 5.43 7.39 3.70 [+]
Tourism Revenues 21448.00 21320.00 21455.00 6496.00 USD Million [+]
Tourist Arrivals 6772971.00 6564421.00 8364941.00 2094287.00 [+]
Weapons Sales 12394.00 10304.00 16071.00 1769.00 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-49382.00 -51134.00 1946.00 -67823.00 1950 - 2019 USD Million Monthly
SA




Country Last Previous
Argentina 1183.00 Mar/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.71 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1222.00 Feb/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -2627773.00 Feb/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19


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