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. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States averaged -15372.70 USD Million from 1950 until 2020, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -68277 USD Million in August of 2006. 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 November of 2020.

Balance of Trade in the United States is expected to be -55000.00 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 -50000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -53000.00 USD Million in 2021, according to our econometric models.

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United States Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-63862.00 -67036.00 1946.00 -68277.00 1950 - 2020 USD Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-05 12:30 PM Jun $-50.7B $-54.8B $-50.1B $-50.7B
2020-09-03 12:30 PM Jul $-63.6B $-53.5B $-58B $ -59B
2020-10-06 12:30 PM Aug $-67.1B $-63.4B $-66.1B $ -66.5B
2020-11-04 01:30 PM Sep $-63.9B $-67B $-63.8B $ -63.1B
2020-12-04 01:30 PM Oct
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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.
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.
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
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.
2020-08-05

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).