United States Balance of TradeJune 2022 Data - 1950-2021 Historical - July Forecast

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.

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.

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.