The US trade deficit narrowed sharply to $67.1 billion in October of 2021 from a record high $81.4 billion gap in September and in line with market forecasts of $66.8 billion. It is the lowest trade deficit in 6 months as exports jumped 8.1% to a record $223.6 billion, prompted by shipments of crude oil, nonmonetary gold, civilian aircraft, industrial machines, soybeans, autos and gem diamonds. Sales however fell for pharmaceuticals. Imports edged up a meagre 0.9% but also touched a fresh all-time high of $290.7 billion, boosted by passenger cars, gem diamonds, cell phones. In contrast, purchases declined for organic chemicals, semiconductors and civilian aircraft. The deficit with China decreased $3.2 billion to $28.3 billion. The gap with the EU also narrowed $2.1 billion to $16.6 billion but the deficit with Mexico widened $0.8 billion to $9.7 billion. source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -16181.38 USD Million from 1950 until 2021, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -81400 USD Million in September of 2021. 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 December of 2021.
Balance of Trade in the United States is expected to be -82000.00 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 -49000.00 USD Million in 2022 and -55000.00 USD Million in 2023, according to our econometric models.