The US trade deficit narrowed to USD 66.6 billion in December of 2020 from a revised USD 69 billion in the previous month and compared to market expectations of USD 65.7 billion. Exports increased 3.4 percent to USD 190 billion, while imports rose 1.5 percent to USD 256.6 billion, both reflecting the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year. In 2020, the trade gap increased by 17.7 percent to USD 101.9 billion, as exports dropped 15.7 percent to USD 2,131.9 and imports fell 9.5 percent to USD 2,810.6. As a percentage of the US GDP, the goods and services deficit were 3.2 percent in 2020, up from 2.7 percent in 2019. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States averaged -15544.46 USD Million from 1950 until 2020, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -69005 USD Million in November of 2020. 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 February of 2021.

Balance of Trade in the United States is expected to be -47000.00 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 -63000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -53000.00 USD Million in 2022, according to our econometric models.

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United States Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-66613.00 -69005.00 1946.00 -69005.00 1950 - 2020 USD Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-04 01:30 PM Sep $-63.9B $-67B $-63.8B $ -63.1B
2020-12-04 01:30 PM Oct $-63.1B $-62.1B $-64.8B $-65B
2021-01-07 01:30 PM Nov $-68.1B $-63.1B $-65.2B $-67.6B
2021-02-05 01:30 PM Dec $-66.6B $-69B $-65.7B $-70B
2021-03-05 01:30 PM Jan $-66.6B $-65.8B $-66.0B
2021-04-07 12:30 PM Feb
2021-05-04 12:30 PM Mar $ -47B
2021-06-08 12:30 PM Apr


News Stream
US Trade Deficit Narrows in December
The US trade deficit narrowed to USD 66.6 billion in December of 2020 from a revised USD 69 billion in the previous month and compared to market expectations of USD 65.7 billion. Exports increased 3.4 percent to USD 190 billion, while imports rose 1.5 percent to USD 256.6 billion, both reflecting the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year. In 2020, the trade gap increased by 17.7 percent to USD 101.9 billion, as exports dropped 15.7 percent to USD 2,131.9 and imports fell 9.5 percent to USD 2,810.6. As a percentage of the US GDP, the goods and services deficit were 3.2 percent in 2020, up from 2.7 percent in 2019.
2021-02-05
US Trade Gap at Over 14-Year High
The trade deficit in the US widened to $68.1 billion in November of 2020 from $63.1 billion in October, well above market expectations of $65.2 billion. It is the biggest trade gap since August of 2006 as exports rose 1.2 percent and imports 2.9 percent. Total exports reached $184.2 billion, boosted by sales of industrial supplies and materials, namely natural gas; foods, feeds, and beverages; travel and transport. Total imports went up to $252.3 billion, mainly due to purchases of cell phones and other household goods; industrial supplies and materials; capital goods; transport and travel while imports of passenger cars decreased. The deficit with China widened $3.5 billion to $30 billion as exports dropped $0.5 billion to $12.6 billion and imports increased $3.0 billion to $42.6 billion.
2021-01-07
US Trade Deficit Widens in October
The US trade deficit widened to USD 63.1 billion in October of 2020 from a revised USD 62.1 billion in the previous month and compared to market expectations of USD 64.8 billion. Exports increased 2.2 percent to USD 182 billion in 2020, while imports rose 2.1 percent to USD 245.1 billion, reflection both the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year.
2020-12-04
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

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).