The trade deficit in the US narrowed by $10.2 billion to a 9-month low of $70.7 billion in July 2022, broadly in line with market forecasts of $70.3 billion. Total exports were up 0.2% to a new all-time high of $259.3 billion as a rise in exports of services offset a decline in goods shipments. Meanwhile, imports went down by 2.9% to $329.9 billion as a decline in imports of consumer goods and industrial supplies offset a rise in shipments of automotive vehicles and parts. The deficit with China was down by $3.9 billion to $33.0 billion in July with exports rising to $12.8 billion and imports decreasing to $45.8 billion. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States averaged -16844.45 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 September of 2022.

Balance of Trade in the United States is expected to be -80000.00 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
2022-08-04 12:30 PM Jun $-79.6B $-84.9B $-80.1B $ -83B
2022-09-07 12:30 PM Jul $-70.7B $-80.9B $-70.3B $-70B
2022-10-05 12:30 PM Aug $-70.7B


Related Last Previous Unit Reference
Balance of Trade -70700.00 -80900.00 USD Million Jul 2022
Current Account -251090.00 -282540.00 USD Million Jun 2022
Imports 329940.00 339642.00 USD Million Jul 2022
Exports 259290.00 258763.00 USD Million Jul 2022
Goods Trade Balance -89060.00 -98590.00 USD Million Jul 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
-70700.00 -80900.00 1946.00 -107651.00 1950 - 2022 USD Million Monthly
SA

News Stream
US Trade Deficit Narrows Sharply
The trade deficit in the US narrowed by $10.2 billion to a 9-month low of $70.7 billion in July 2022, broadly in line with market forecasts of $70.3 billion. Total exports were up 0.2% to a new all-time high of $259.3 billion as a rise in exports of services offset a decline in goods shipments. Meanwhile, imports went down by 2.9% to $329.9 billion as a decline in imports of consumer goods and industrial supplies offset a rise in shipments of automotive vehicles and parts. The deficit with China was down by $3.9 billion to $33.0 billion in July with exports rising to $12.8 billion and imports decreasing to $45.8 billion.
2022-09-07
US Trade Deficit at 6-Month Low
The trade deficit in the US narrowed by $5.3 billion to a six-month low of $79.6 billion in June 2022, compared to market forecasts of $80.1 billion. Total exports were up 1.7% to an all-time high of $260.8 billion, prompted by sales of nonmonetary gold; natural gas; foods, feeds, and beverages; and travel and transport services. Meanwhile, imports went down 0.3% to $340.4 billion dragged down mainly by passenger cars. The goods deficit widened with China (-$36.9 billion) and Mexico (-$11 billion) but narrowed with the EU (-$18 billion), Canada (-$7.9 billion) and Russia (-$0.6 billion).
2022-08-04
US Trade Gap Lowest so Far this Year
The trade deficit in the US narrowed by $1.1 billion to a five-month low of $85.5 billion in May of 2022, compared to market forecasts of $84.9 billion, as exports hit a record high while soaring prices and slowing domestic demand weighed on imports. Total exports were up 1.2% to an all-time high of $255.9 billion, prompted by sales of industrial supplies and materials, crude oil, nonmonetary gold, natural gas, pharmaceutical preparations and financial services. Imports increased at a softer 0.6% to $341.4 billion, led by crude oil and other petroleum products, travel (the highest since before the pandemic) and transport while purchases of consumer goods declined. The goods deficit widened with China ($-31.5 billion), the EU ($-21.4 billion) and Canada ($-9.8 billion) but narrowed with Mexico ($-10.6 billion) and Russia ($-1 billion).
2022-07-07