The trade deficit in the United States narrowed to USD 51.1 billion in January of 2019 from an upwardly revised USD 59.9 billion in the previous month, which was the largest since 2008. It compares with market expectations of a USD 57 billion shortfall. The January decrease in the goods and services deficit reflected a fall in the goods deficit of USD 8.2 billion to USD 73.3 billion and an increase in the services surplus of USD 0.5 billion to USD 22.1 billion. Balance of Trade in the United States averaged -14649.91 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.

Balance of Trade in the United States is expected to be -52000.00 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 -60000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -63000.00 USD Million in 2020, according to our econometric models.

United States Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-06 01:30 PM Balance of Trade $-55.5B $-54.6B $-54.9B $ -55.4B
2019-02-06 01:30 PM Balance of Trade $-49.3B $-55.7B $-54B $-53B
2019-03-06 01:30 PM Balance of Trade $-59.8B $-50.3B $-57.9B $-56B
2019-03-27 12:30 PM Balance of Trade $-51.1B $-59.9B $-57B $-59B
2019-04-17 12:30 PM Balance of Trade $-51.1B $-53.7B $-50.8B
2019-05-09 12:30 PM Balance of Trade $-52B
2019-06-06 12:30 PM Balance of Trade



US Trade Gap Narrows More Than Expected

The trade deficit in the United States narrowed to USD 51.1 billion in January of 2019 from an upwardly revised USD 59.9 billion in the previous month, which was the largest since October 2008. It compares with market expectations of a USD 57 billion shortfall. Exports rebounded, mainly due to soybeans and motor vehicles and parts and imports were the lowest since June 2018.

Total exports went up 0.9 percent month-over-month to USD 207.34 billion, following a 1.9 percent drop in December. Exports of goods increased USD 1.8 billion to USD 137.4 billion, mainly due to foods, feeds, and beverages (USD 1.3 billion); soybeans (USD 0.9 billion); automotive vehicles, parts, and engines (USD 1.2 billion); and passenger cars (USD 0.7 billion). On the other hand, sales went down for capital goods (USD -0.8 billion) and civilian aircraft (USD -1.3 billion). Exports of services increased USD 0.2 billion to USD 70.0 billion: other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services went up USD 0.1 billion and transport rose USD 0.1 billion.
 
According to unadjusted data, exports rose to Canada (1.3 percent), Mexico (12.7 percent), the EU (7 percent) and Brazil (5.3 percent) but fell for China (-22.3 percent to the lowest value since September of 2010), Japan (-5.6 percent) and OPEC (-26.2 percent).
 
Total imports dropped 2.6 percent month-over-month to USD 258.49 billion, the lowest level since last June, following a 2.1 percent rise in December. Imports of goods decreased USD 6.5 billion to USD 210.7 billion, mainly due to purchases of capital goods (USD -3 billion); computer accessories (USD -0.9 billion); semiconductors (USD -0.7 billion); civilian aircraft (USD -0.7 billion); industrial supplies and materials (USD -2.3 billion); and crude oil (USD -1.4 billion). Imports of services went down USD 0.3 billion to USD 47.8 billion: transport declined USD 0.2 billion and travel (for all purposes including education) dropped USD 0.2 billion. Other business services increased USD 0.1 billion.
 
According to unadjusted data, imports went down from China (-9.6 percent), Canada (-1.5 percent), the EU (-3.8 percent), Japan (-6.7 percent) and OPEC (-8.6 percent) but rose from Mexico (2 percent) and Brazil (4.3 percent).
 
The goods deficit with China declined to USD 34.5 billion from USD 36.8 billion in December. The trade gap also narrowed with the EU (USD -11.7 billion from USD -15.1 billion), Mexico (USD -5.8 billion from USD -7.7 billion), Japan (USD -5.2 billion from USD -5.7 billion) and Canada (USD -0.8 billion from USD -1.4 billion) but widened with OPEC (USD -1.3 billion from USD -0.3 billion).
 
In 2018, the goods and services deficit increased 12.5 percent to a 10 year high of USD 621 billion.


BEA | Joana Taborda | joana.taborda@tradingeconomics.com
3/27/2019 2:18:17 PM


News

US Trade Deficit Largest since 2008
The U.S. trade deficit widened to USD 59.8 billion in December of 2018 from an upwardly revised USD 50.3 billion in the previous month and compared with market expectations of a USD 57.9 billion gap. It is the largest deficit since October of 2008 as exports declined for the third month and imports recovered. In 2018, the country's trade gap widened to a 10-year high, with the goods gap with China jumping to a record high despite tariffs on USD 250 billion worth of Chinese imports.
Published on 2019-03-06

US Trade Gap Lowest in 5 Months
The U.S. trade deficit narrowed to USD 49.3 billion in November of 2018 from an upwardly revised USD 55.7 billion in the previous month and compared with market expectations of a USD 54 billion gap. It is the lowest deficit in five months as imports plunged the most since March of 2016 from a record high value reached in the previous month.
Published on 2019-02-06

US Trade Deficit Reaches 10-Year High
The U.S. trade deficit widened to USD 55.5 billion in October of 2018 from an upwardly revised USD 54.6 billion in the previous month and compared with market expectations of a USD 54.9 billion gap. It is the highest deficit since October of 2008 as lower soybean sales weighed down on exports and imports reached a new record high.
Published on 2018-12-06

US Trade Deficit Highest in 7 Months
The U.S. trade deficit widened to USD 54.0 billion in September 2018 from an upwardly revised USD 53.3 billion in the previous month and compared with market expectations of a USD 53.6 billion gap. It is the highest deficit in 7 months as imports rose to a record high.
Published on 2018-11-02



United States Trade Last Previous Highest Lowest Unit
Balance of Trade -51149.00 -59900.00 1946.00 -67823.00 USD Million [+]
Current Account -134377.00 -126604.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.40 -2.30 0.20 -6.00 percent [+]
Imports 258489.00 265293.00 267232.00 577.00 USD Million [+]
Exports 207340.00 205393.00 212855.00 772.00 USD Million [+]
External Debt 19765887.00 19556588.00 19765887.00 6570168.00 USD Million [+]
Terms of Trade 106.43 106.60 168.28 91.82 Index Points [+]
Capital Flows -143651.00 -113493.00 272938.00 -194622.00 USD Million [+]
Foreign Direct Investment 50955.00 51938.00 51938.00 -9988.00 USD Million [+]
Net Long Term Tic Flows -7237.00 -48313.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.50 8133.46 8149.05 8133.46 Tonnes [+]
Crude Oil Production 11871.00 11849.00 11900.00 3971.00 BBL/D/1K [+]
Terrorism Index 6.07 5.43 7.39 3.70 [+]
Tourism Revenues 21307.00 21357.00 21417.00 6496.00 USD Million [+]
Tourist Arrivals 6734056.00 6907642.00 8364941.00 2094287.00 [+]
Weapons Sales 12394.00 10304.00 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 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). 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-51149.00 -59900.00 1946.00 -67823.00 1950 - 2019 USD Million Monthly
SA




Country Last Previous
Argentina 460.00 Feb/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -4246.10 Jan/19
China 40.81 Feb/19
Euro Area 1547.90 Jan/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -9600.00 Feb/19
Indonesia 329.50 Feb/19
Italy 321.80 Jan/19
Japan 339.00 Feb/19
Mexico 1222.00 Feb/19
Netherlands 2868.00 Jan/19
Russia 13368.00 Jan/19
Saudi Arabia 180059.00 Dec/18
Singapore 5198.50 Feb/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -4483276.00 Jan/19
Switzerland 2037.56 Feb/19
Turkey -2134.33 Feb/19
United Kingdom -3825.00 Jan/19
United States -51149.00 Jan/19


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