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). source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States averaged -16781.07 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 August 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
2022-07-07 12:30 PM May $-85.5B $-86.7B $-84.9B $-86B
2022-08-04 12:30 PM Jun $-79.6B $-84.9B $-80.1B $ -83B
2022-09-07 12:30 PM Jul $-79.6B


Related Last Unit Reference
Balance of Trade -79614.00 USD Million Jun 2022
Current Account -291418.00 USD Million Mar 2022
Imports 340413.00 USD Million Jun 2022
Exports 260799.00 USD Million Jun 2022
Goods Trade Balance -98180.00 USD Million Jun 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
-79614.00 -84906.00 1946.00 -107651.00 1950 - 2022 USD Million Monthly
SA

News Stream
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
US Trade Gap Narrows from Record
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.
2022-06-07