The US trade gap increased to $48.9 billion in December of 2019 from an upwardly revised $43.7 billion deficit in the previous month and higher than market expectations of a $48.2 billion shortfall. Exports increased 0.8% to $209.6 billion, the highest value in 7 months, mainly due to sales of crude oil while those of passenger cars declined. Imports jumped 2.7% to $258.5 billion, the biggest increase since May of 2019, mainly due to purchases of crude oil and nonmonetary gold. Considering full 2019, the country's trade deficit fell 1.7% to $616.8 billion, the first decline since 2013. Goods imports shrank 1.7% and exports decreased 1.3%. The goods deficit with China fell 18% to $345.6 billion in 2019, but the trade gap widened 5% to $177.9 billion with the EU; 26.2% to $101.8 billion with Mexico and 42% to $27 billion with Canada.

Balance of Trade in the United States averaged -15136.66 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. 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. source: Bureau of Economic Analysis (BEA)

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 -62000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -63000.00 USD Million in 2021 and -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
-48880.00 -43691.00 1946.00 -67823.00 1950 - 2019 USD Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-11-05 01:30 PM Sep $-52.5B $-55B $-52.5B $-52.0B
2019-12-05 01:30 PM Oct $-47.2B $-51.1B $-48.7B $ -48.1B
2020-01-07 01:30 PM Nov $-43.1B $-46.9B $-43.8B $ -43B
2020-02-05 01:30 PM Dec $-48.9B $-43.7B $-48.2B $-49B
2020-03-06 01:30 PM Jan $-48.9B $-47.2B $-53.6B
2020-04-02 12:30 PM Feb
2020-05-05 12:30 PM Mar $ -55B
2020-06-04 12:30 PM Apr
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
US Trade Deficit Above Forecasts
The US trade gap increased to $48.9 billion in December of 2019 from an upwardly revised $43.7 billion deficit in the previous month and higher than market expectations of a $48.2 billion shortfall. Exports increased 0.8% to $209.6 billion, the highest value in 7 months, mainly due to sales of crude oil while those of passenger cars declined. Imports jumped 2.7% to $258.5 billion, the biggest increase since May of 2019, mainly due to purchases of crude oil and nonmonetary gold. Considering full 2019, the country's trade deficit fell 1.7% to $616.8 billion, the first decline since 2013. Goods imports shrank 1.7% and exports decreased 1.3%. The goods deficit with China fell 18% to $345.6 billion in 2019, but the trade gap widened 5% to $177.9 billion with the EU; 26.2% to $101.8 billion with Mexico and 42% to $27 billion with Canada.
2020-02-05
US Trade Gap Lowest in Over 3 Years in November
The US trade deficit narrowed to $43.1 billion in November 2019 from a downwardly revised $46.9 billion gap in the previous month. It compares with market expectations of a $43.8 billion shortfall. The trade gap shrank for the third straight month to the lowest since October 2016. Imports slumped 1% to the lowest value in 2 years due to falling purchases of aircraft, computers and cell phones. Exports increased 0.7% to $209 billion, boosted by sales of drilling and oilfield equipment, jewellery, autos, diamonds and aircraft engines. The goods trade deficit with China narrowed 15.7% to $26.4 billion, with imports dropping 9.2% and exports jumping 13.7%. Year-to-date, the total deficit decreased $3.9 billion. The trade war with China seems to be the main cause behind the lowest trade gap. Although a lower trade deficit is likely to impact positively on GDP growth, concerns remain over the impact of falling imports in consumer spending, the largest component of GDP.
2020-01-07
US Trade Gap Lowest in 17 Months
The US trade deficit narrowed to USD 47.2 billion in October of 2019 from a downwardly revised USD 51.1 billion in the previous month, and below market expectations of a USD 48.7 billion. It is the lowest trade gap since May of 2018. Imports slumped 1.7 percent to the lowest value in two years amid falling purchases of pharmaceutical preparations, auto parts, vehicles and cell phones Exports edged down 0.2 percent. The goods trade deficit with China narrowed 1.1 percent to USD 31.3 billion, as imports fell a meagre 0.2 percent and exports rose 3.3 percent.
2019-12-05
US Trade Gap Lowest in 5 Months
The US trade deficit narrowed to USD 52.5 billion in September of 2019 from USD 55 billion in the previous month, matching market expectations. It is the lowest trade gap since April. Imports went down 1.7 percent and exports declined 0.9 percent due to tariffs. Yet, the country recorded its first petroleum surplus since 1978. The politically sensitive goods trade deficit with China edged down 0.4 percent to USD 31.6 billion.
2019-11-05

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).