United States Balance of Trade  1950-2018 | Data | Chart | Calendar

The US recorded a USD 53.1 billion trade gap in December of 2017, following a downwardly revised 50.4 billion gap in November and compared to market expectations of a USD 52 billion shortfall. It is the biggest trade gap since October of 2008 as imports rose 2.5 percent to a new record high of 256.5 billion and exports grew 1.8 percent to a new record high of 203.4 billion. Considering full 2017, the US trade gap widened 12.1 percent to USD 566.0 billion, the highest since 2008. Balance of Trade in the United States averaged -14079.91 USD Million from 1950 until 2017, 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.

United States Balance of Trade
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US Trade Gap at 9-Year High


The US recorded a USD 53.1 billion trade deficit in December of 2017, following a downwardly revised 50.4 billion gap in November and compared to market expectations of a USD 52 billion shortfall. It is the highest trade gap since October of 2008 as imports reached a new high mainly due to purchases of consumer goods, pharmaceuticals, cell phones and passenger cars. Exports also touched a fresh record high although rose at a slower pace than imports.

The December increase in the goods and services deficit reflected an increase in the goods deficit of $2.6 billion to $73.3 billion and a decrease in the services surplus of $0.1 billion to $20.2 billion.

Total exports of goods and services went up 1.8 percent to a new high of $203.35 billion. Exports of goods increased $3.4 billion to $137.5 billion, mainly due to industrial supplies and materials ($1.5 billion); organic chemicals  ($0.2 billion); fuel oil ($0.2 billion); capital goods ($1.2 billion); civilian aircraft ($0.8 billion); other industrial machines ($0.7 billion). Exports of services went up $0.1 billion to $65.9 billion: travel (for all purposes including education) increased $0.1 billion and maintenance and repair services rose $0.1 billion while transport decreased $0.1 billion.

Total imports jumped 2.5 percent to $256.5 billion. Imports of goods increased $6.0 billion to $210.8 billion, namely consumer goods ($3.2 billion); pharmaceutical preparations ($1.8 billion); cell phones and other household goods ($1.7 billion); automotive vehicles, parts, and engines ($1.1 billion); passenger cars increased ($1.1 billion); capital goods ($0.8 billion). Imports of services rose $0.3 billion to $45.7 billion: travel (for all purposes including education) increased $0.2 billion and charges for the use of intellectual property went up $0.1 billion.

On a non-seasonally adjusted basis, exports went up to OPEC (19.1 percent), Japan (11.4 percent), Brazil (8.8 percent), China (7.5 percent) and the EU (5.2 percent). On the other hand, sales went down to Mexico (-9 percent) and Canada (-7.4 percent). Imports jumped 6.1 percent from the EU and those from Japan 3.7 percent. In contrast, purchases fell from other major destinations, namely Brazil (-17.3 percent); Mexico (-9.3 percent); OPEC (-8.8 percent); China (-7.6 percent) and Canada (-2.6 perrcent). The trade deficit worsened with the EU ($-15.81 billion from $-14.73 billion) and Canada ($-2.2 billion from $-1.03 bilion) but narrowed with China ($-30.81 billion from $-35.43 billion); Mexico ($-5.37 billion from $-5.98 billion) and Japan ($ -5.53 billion from $-5.76 billion). Also, the trade balance with the OPEC switched into a $0.21 billion surplus from a $1.26 billion shortfall.

As a percentage of the GDP, the goods and services deficit was 2.9 percent in 2017, up from 2.7 percent in 2016.

Considering full 2017, the US trade deficit widened 12.1 percent to $566.0 billion, the highest since 2008. Exports rose 5.5 percent to $2.33 trillion, while imports climbed 6.7 percent to a record $2.9 trillion. Both showed the biggest gains since 2011. The trade gap with China increased 8.1 percent to a record of $375.2 billion and the gap with Mexico rose to $71.1 billion, the second highest on record. The petroleum gap of $95.9 billion was the smallest since 2003, as petroleum exports rose to a record high.



BEA | Joana Taborda | joana.taborda@tradingeconomics.com
2/6/2018 4:33:58 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-05 01:30 PM Balance of Trade $-48.70B $-44.90B $-47.5B $ -46B
2018-01-05 01:30 PM Balance of Trade $-50.5B $-48.9B $-49.5B $-48B
2018-02-06 01:30 PM Balance of Trade $-53.1B $-50.4B $-52B $-51.3B
2018-03-07 01:30 PM Balance of Trade $-53.1B $ -52.8B
2018-04-05 12:30 PM Balance of Trade $ -52.8B
2018-05-03 12:30 PM Balance of Trade $ -53.3B


United States Trade Last Previous Highest Lowest Unit
Balance of Trade -53118.00 -50435.00 1946.00 -67823.00 USD Million [+]
Exports 203351.00 199806.00 203351.00 772.00 USD Million [+]
Imports 256469.00 250241.00 256469.00 577.00 USD Million [+]
Current Account -100600.00 -124397.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.60 -2.60 0.20 -6.00 percent [+]
External Debt -7768745.00 -7934901.00 -1232107.00 -8217356.00 USD Million [+]
Terms of Trade 99.85 100.14 168.28 91.82 Index Points [+]
Capital Flows -119272.00 33509.00 272938.00 -193364.00 USD Million [+]
Foreign Direct Investment 42627.00 46199.00 47465.00 -9988.00 USD Million [+]
Net Long Term Tic Flows 27318.00 57462.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.46 8133.46 8149.05 8133.46 Tonnes [+]
Crude Oil Production 10038.00 9637.00 10044.00 3983.00 BBL/D/1K [+]
Tourism Revenues 20379.00 20293.00 21223.00 6496.00 USD Million [+]
Tourist Arrivals 5721658.00 5921333.00 8364940.00 2095665.00 [+]
Terrorism Index 5.43 4.88 7.39 3.70 [+]
Weapons Sales 9894.00 10184.00 16071.00 1769.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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 2017, the biggest trade deficits were recorded with China, Mexico, Japan, Germany, Vietnam, Ireland and Italy and the biggest trade surpluses with Hong Kong, Netherlands, United Arab Emirates, Belgium, Australia, Singapore and Brazil. Mexico is the United States' 2nd largest export market and the 3rd largest supplier of imports. 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 - actual data, historical chart and calendar of releases - was last updated on February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-53118.00 -50435.00 1946.00 -67823.00 1950 - 2017 USD Million Monthly
SA




balance of trade by Country
Country Last
Australia -1358.00 Dec/17
Brazil 2768.44 Jan/18
Canada -3186.30 Dec/17
China 203.40 Jan/18
Euro Area 25414.60 Dec/17
France -3468.00 Dec/17
Germany 18226.00 Dec/17
India -16298.47 Jan/18
Indonesia -676.90 Jan/18
Italy 5253.08 Dec/17
Japan 358.97 Dec/17
Mexico -156.97 Dec/17
Netherlands 4104.00 Dec/17
Russia 13700.00 Dec/17
South Korea 3700.00 Jan/18
Spain -1621000.00 Nov/17
Switzerland 2632.00 Dec/17
Turkey -9206.19 Dec/17
United Kingdom -4896.00 Dec/17
United States -53118.00 Dec/17


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