The US 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 1.5 percent to a record high of USD 266.6 billion. Exports also increased 1.5 percent to USD 212.6 billion. The trade gap with China set a new record despite US tariffs. Balance of Trade in the United States averaged -14444.47 USD Million from 1950 until 2018, 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 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.

Total exports increased 1.5 percent month-over-month to USD 212.6 billion in September, as exports of goods rose USD 2.9 billion and exports of services increased USD 0.3 billion. Sales of goods mostly reflected gains in industrial supplies and materials (USD 2.8 billion) and in capital goods (USD 1.1 billion). On the other hand, sales dropped for foods, feeds, and beverages (USD -1.0 billion). The increase in exports of services was mainly due to transport ($0.2 billion).

Total imports advanced 1.5 percent to USD 266.6 billion, hitting a record high. Purchases of goods went up USD 3.5 billion and imports of services rose USD 0.4 billion. Purchases of goods were driven mainly by capital goods (USD 2.4 billion) and consumer (USD 2.0 billion). Meanwhile, imports fell for automotive vehicles, parts, and engines (USD -0.6 billion).

According to unadjusted data, exports rose to the EU (6.0 percent), China (5.3 percent) and Japan (1.6 percent) while declined to Canada (-3.3 percent), Mexico (-4.3 percent), Brazil (-8.9 percent) and OPEC (-5 percent). Imports increased from China (4.5 percent) and OPEC (5.5 percent) while it dropped from Canada (-5.8 percent), Mexico (-6.3 percent), the EU (-8.5 percent), Japan (-16 percent) and Brazil (-20.7 percent).

The goods trade deficit with China jumped 4.3 percent to a record high of USD 40.2 billion. The trade gap also rose with the EU (-32.2 percent to USD 10.65 billion) and OPEC (+45.2 percent to USD 1.98 billion) but declined with Japan (+34.7 percent to USD 3.93 billion), Canada (-30.5 percent to USD 1.81 billion) and Mexico (-11.3 percent to USD 7.72 billion). 

Considering the first nine months of the year, the goods and services deficit went up 10.1 percent, with exports rising 8.2 percent and imports 8.6 percent. The US trade deficit increased with all main trading partners except Japan (-2.2 percent to USD 50.024 billion): China (+9.9 percent to USD 301.368); the EU (+13.4 percent to USD 121.506 billion); Mexico (+13.5 percent to USD 59.986 bilion); Canada (+28.1 percent to USD 15.638 billion) and OPEC (+70 percent to USD 17.713 billion). 


BEA | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/2/2018 1:20:31 PM


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Calendar GMT Actual Previous Consensus TEForecast
2018-09-05 12:30 PM Balance of Trade $-50.1B $-45.7B $-50.3B $ -44.8B
2018-10-05 12:30 PM Balance of Trade $-53.2B $-50B $-53.5B $ -50.3B
2018-11-02 12:30 PM Balance of Trade $-54B $-53.3B $-53.6B $ -53B
2018-12-06 01:30 PM Balance of Trade $-54B $ -55.4B


United States Trade Last Previous Highest Lowest Unit
Balance of Trade -54019.00 -53309.00 1946.00 -67823.00 USD Million [+]
Exports 212565.00 209445.00 214668.00 772.00 USD Million [+]
Imports 266584.00 262754.00 266584.00 577.00 USD Million [+]
Current Account -101460.00 -121710.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.40 -2.40 0.20 -6.00 percent [+]
External Debt 19306582.00 19180854.00 19306582.00 6570168.00 USD Million [+]
Terms of Trade 106.98 98.39 168.28 91.82 Index Points [+]
Capital Flows 108188.00 42677.00 272938.00 -193364.00 USD Million [+]
Foreign Direct Investment 47253.00 45701.00 48155.00 -9988.00 USD Million [+]
Net Long Term Tic Flows 131823.00 66658.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.46 8134.00 8149.05 8133.46 Tonnes [+]
Crude Oil Production 11346.00 10964.00 11346.00 3971.00 BBL/D/1K [+]
Terrorism Index 5.43 4.88 7.39 3.70 [+]
Tourism Revenues 21283.00 21375.00 21429.00 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 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-54019.00 -53309.00 1946.00 -67823.00 1950 - 2018 USD Million Monthly
SA




Country Last
Argentina 314.00 Sep/18
Australia 3017.00 Sep/18
Brazil 6121.36 Oct/18
Canada -416.30 Sep/18
China 340.16 Oct/18
Euro Area 11671.20 Aug/18
France -5663.00 Sep/18
Germany 18395.00 Sep/18
India -13980.00 Sep/18
Indonesia 227.10 Sep/18
Italy 2564.00 Aug/18
Japan 139.56 Sep/18
Mexico -194.00 Sep/18
Netherlands 3463.00 Aug/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 3685.26 Sep/18
South Africa -2950.00 Sep/18
South Korea 6552.00 Oct/18
Spain -3057300.00 Aug/18
Switzerland 1447.00 Sep/18
Turkey -1869.47 Sep/18
United Kingdom -27.00 Sep/18
United States -54019.00 Sep/18


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