The US trade deficit widened to $54.6 billion in May of 2020 from an upwardly revised $49.8 billion in April, and higher than forecasts of $53 billion. It is the biggest trade gap since December of 2018 as both exports and imports fell in part due to the impact of COVID-19, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted. Exports dropped 4.4% to $144.5 billion, the lowest level since November of 2009, led by crude, fuel oil; semiconductors and computer accessories; financial and other business services; and charges for the use of intellectual property. Imports shrank 0.9% to $199.1 billion, the lowest since July of 2010, led by a slump in purchases of automotive vehicles, parts, and engines and capital goods such as computers. The deficit with China widened $1.9 billion to $27.9 billion as exports went up to $10.0 billion and imports increased $2.7 billion to $37.9 billion.

Balance of Trade in the United States averaged -15135.14 USD Million from 1950 until 2020, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -68277 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. United States Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States is expected to be -34000.00 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 -31000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -33000.00 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
-54601.00 -49756.00 1946.00 -68277.00 1950 - 2020 USD Million Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-02 12:30 PM Feb $-39.9B $-45.5B $-40B $ -39B
2020-05-05 12:30 PM Mar $-44.4B $-39.8B $-44B $-44.2B
2020-06-04 12:30 PM Apr $-49.4B $-42.3B $-49B $ -54.3B
2020-07-02 12:30 PM May $-54.6B $-49.8B $-53B $ -53B
2020-08-05 12:30 PM Jun $-54.6B $ -50B
2020-09-03 12:30 PM Jul
2020-10-06 12:30 PM Aug
2020-11-04 01:30 PM Sep $ -34B


News Stream
US Trade Gap Highest since 2018
The US trade deficit widened to $54.6 billion in May of 2020 from an upwardly revised $49.8 billion in April, and higher than forecasts of $53 billion. It is the biggest trade gap since December of 2018 as both exports and imports fell in part due to the impact of COVID-19, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted. Exports dropped 4.4% to $144.5 billion, the lowest level since November of 2009, led by crude, fuel oil; semiconductors and computer accessories; financial and other business services; and charges for the use of intellectual property. Imports shrank 0.9% to $199.1 billion, the lowest since July of 2010, led by a slump in purchases of automotive vehicles, parts, and engines and capital goods such as computers. The deficit with China widened $1.9 billion to $27.9 billion as exports went up to $10.0 billion and imports increased $2.7 billion to $37.9 billion.
2020-07-02
US Trade Gap Highest in 8 Months
The US trade deficit widened to $19.4 billion in April of 2020 from a downwardly revised $42.3 billion in March, and in line with market forecasts of $49 billion. It is the biggest trade gap in eight months in part due to the impact of the coronavirus, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted. Exports plunged 20.5% to the lowest reading in 10 years mainly due to travel, passenger cars, civilian aircraft, industrial machinery and oil. Imports sank 13.7% to the lowest since July of 2010, mainly due to passenger cars, travel, transport and pharmaceutical goods. The trade gap with China widened $9 billion to $26 billion while the deficit with Mexico decreased $5.6 billion to $3.3 billion.
2020-06-04
US Trade Gap Rises Slightly in March
The US trade deficit widened to $44.4 billion in March of 2020 from a downwardly revised $39.8 billion in the previous month and in line with market expectations of a $44 billion gap. Both exports and imports were the lowest since November of 2016 and fell in part, due to the impact of COVID-19, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted. Exports dropped 9.6% to $187.7 billion, mainly due to lower sales of travel and transport services, industrial supplies and materials, crude oil, automotive vehicles, parts, and accessories, and civilian aircraft parts. Imports went down 6.2% to $232.2 billion, mainly due to falling purchases of travel and transport services, cell phones, automotive parts and accessories. The goods deficit with China narrowed to $11.83 billion from $ 16 billion in February.
2020-05-05
US Trade Gap Lowest in Near 4 Years
The US trade deficit narrowed to USD 39.9 billion in February of 2020 from an upwardly revised USD 45.5 billion in the previous month and compared to market expectations of a USD 40 billion gap. It is the lowest trade deficit since September of 2016. Imports fell 2.5 percent to USD 247.5 billion, the lowest value since October of 2017, due to capital goods, in particular computers, telecommunication equipment and computer accessories; industrial supplies & materials, mainly fuel oil and organic chemicals; and consumer goods. Exports edged down 0.4 percent to USD 207.5 billion, led by declines in sales of consumer goods, namely pharmaceutical preparation and gem diamonds. The goods deficit with China narrowed to USD 16 billion from $ 26.1 billion in January, the lowest since March of 2009 as imports were the smallest since May of 2009 and exports the fewest since June of 2010.
2020-04-02

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).