United States Balance of Trade  1950-2017 | Data | Chart | Calendar

The trade deficit in the United States widened slightly to USD 43.7 billion in July of 2017, following a downwardly revised USD 43.5 billion gap in June. It compares with market expectations of a bigger USD 44.6 billion shortfall. Exports declined 0.3 percent and imports fell at a slower 0.2 percent. The trade gap with China reached an 11-month high and the one with the EU was the highest in 8 months. Balance of Trade in the United States averaged -13862.24 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 Lower than Expected


The trade deficit in the United States widened slightly to USD 43.7 billion in July of 2017, following a downwardly revised USD 43.5 billion gap in June. It compares with market expectations of a bigger USD 44.6 billion shortfall. Exports declined 0.3 percent and imports fell at a slower 0.2 percent. The trade gap with China reached an 11-month high and the one with the EU was the highest in 8 months.

The July increase in the goods and services deficit reflected a fall in the goods deficit of less than USD 0.1 billion to USD 65.3 billion and a decrease in the services surplus of USD 0.2 billion to USD 21.6 billion.

Total exports fell 0.3 percent from the previous month to USD 194.38 billion. Exports of goods decreased USD 0.4 billion to USD 128.6 billion, mainly due to lower sales of consumer goods (USD -0.7 billion); cell phones and other household goods (USD -$0.5 billion); automotive vehicles, parts, and engines (USD -0.6 billion) and passenger cars (USD -1.0 billion). On the other hand, sales rose for capital goods (USD 0.9 billion) and civilian aircraft (USD 1.1 billion). 

Exports of services decreased USD 0.1 billion to USD 65.8 billion as travel (for all purposes including education) went down USD 0.3 billion. Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased USD 0.2 billion.

Total imports fell 0.2 percent to USD 23.81 billion. Purchases of goods decreased USD 0.5 billion to USD 193.9 billion, mainly due to lower imports of automotive vehicles, parts, and engines (USD -0.8 billion); passenger cars (USD -0.8 billion); industrial supplies and materials (USD -0.7 billion) and crude oil (USD - 1 billion). On the other hand, imports rose for capital goods (USD 1.3 billion); computer accessories (USD 0.6 billion) and computers (USD 0.6 billion). 

Imports of services increased less than USD 0.1 billion to USD 44.1 billion. The changes in all categories were $0.1 billion or less and nearly offsetting.

On a non-seasonally adjusted basis, exports fell to Canada (-13.9 percent), Mexico (-7.6 percent), the EU (-9.8 percent) and OPEC (-7.1 percent) but rose to China (3.5 percent), Japan (2.3 percent) and Brazil (7.5 percent). Imports went down from Canada (-11.5 percent), Mexico (-9.7 percent), the EU (-3.7 percent), the OPEC (-12.6 percent) and Brazil (-3.5 percent) but rose from China (3.1 percent) and Japan (3 percent). 

The US trade deficit widened with China (USD -33.56 billion from USD -32.58 billion in June), the EU (USD -13.45 billion from USD -12.47 billion), Japan (USD -5.77 billion from USD -5.57 billion) and Canada (USD -1 billion from USD -0.46 billion) but narrowed with Mexico (USD -4.92 billion from USD -5.96 billion).

Year-to-date, the goods and services deficit increased USD 27.9 billion, or 9.6 percent, from the same period in 2016. Exports increased USD 76.8 billion or 6 percent and imports went up at a faster USD 104.8 billion or 6.7 percent.

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
9/6/2017 1:02:41 PM


Recent Releases

US Trade Gap Narrows to 8-Month Low
The goods and services deficit in the United States narrowed to USD 43.6 billion in June 2017 from USD 46.4 billion a month earlier and compared to market expectations of a USD 45 billion gap. It was the smallest trade deficit since October 2016, as exports increased to their highest level in 2-1/2 years.
Published on 2017-08-04

US Trade Deficit Shrinks In May
The goods and services deficit in the United States narrowed to USD 46.5 billion in May of 2017 from a USD 47.6 billion gap a month earlier and compared to market expectations of a USD 46.2 billion shortfall. Exports rose 0.4 percent to the highest value in nearly two years mainly boosted by sales of consumer goods and cell phones.
Published on 2017-07-06

US Trade Deficit Higher Than Expected In April
The goods and services deficit in the United States widened to USD 47.6 billion in April of 2017 from an upwardly revised USD 45.6 billion gap a month earlier and higher than market expectations of a USD 46.1 billion shortfall. Exports fell 0.3 percent to USD 190.98 billion, driven by lower sales of consumer goods and vehicles. Imports rose 0.8 percent to USD 238.6 billion, boosted by cellphones and capital goods.
Published on 2017-06-02

US Trade Gap Lowest In 5 Months In March
The goods and services deficit in the United States narrowed slightly to USD 43.7 billion in March of 2017 from an upwardly revised USD 43.8 billion gap a month earlier and lower than market expectations of a USD 44.5 billion shortfall. Exports declined for the first time in four months mainly due to lower sales to China and imports fell for the second straight month.
Published on 2017-05-04



Calendar GMT Actual Previous Consensus TEForecast
2017-07-06 12:30 PM Balance of Trade $-46.5B $-47.6B $-46.2B $ -45B
2017-08-04 12:30 PM Balance of Trade $-43.6B $-46.4B $-45B $ -46B
2017-09-06 12:30 PM Balance of Trade $-43.7B $-43.5B $-44.6B $ -44.2B
2017-10-05 12:30 PM Balance of Trade $-43.7B $ -45B
2017-11-03 12:30 PM Balance of Trade $ -45B
2017-12-05 01:30 PM Balance of Trade $ -45B


United States Trade Last Previous Highest Lowest Unit
Balance of Trade -43689.00 -43543.00 1946.00 -67823.00 USD Million [+]
Exports 194381.00 194946.00 200144.00 772.00 USD Million [+]
Imports 238071.00 238489.00 242243.00 577.00 USD Million [+]
Current Account -123137.00 -113533.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.60 -2.60 0.20 -6.00 percent [+]
External Debt -8217356.00 -8109652.00 -1232107.00 -8217356.00 USD Million [+]
Terms of Trade 99.01 99.25 168.28 91.82 Index Points [+]
Capital Flows -7271.00 5936.00 272938.00 -205366.00 USD Million [+]
Foreign Direct Investment 46199.00 38357.00 47465.00 -9988.00 USD Million [+]
Net Long Term Tic Flows 1304.00 34420.00 160371.00 -72882.00 USD Million [+]
Gold Reserves 8133.46 8133.46 8149.05 8133.46 Tonnes [+]
Crude Oil Production 9169.00 9083.00 10044.00 3983.00 BBL/D/1K [+]
Tourism Revenues 20828.00 20983.00 20983.00 6496.00 USD Million [+]
Tourist Arrivals 6507601.00 7958601.00 8364940.00 2095665.00 [+]
Terrorism Index 4.88 4.61 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 recent years, the biggest trade deficits were recorded with China, Japan, Germany and Mexico. United States records trade surpluses with Hong Kong, Netherlands, United Arab Emirates and Australia. Mexico is the United States' 2nd largest export market and the 3rd largest supplier of imports. Main exports include nuclear reactors, boilers, machinery (around 18% of total sales); electrical, electronic equipment (18%); vehicles other than railway, tramway (10%); mineral fuels (8%) and plastics (7%). Main imports from Mexico include vehicles other than railway, tramway (25% of total imports); electrical, electronic equipment (20%); nuclear reactors, boilers, machinery (15%); mineral fuels (5%). Mexico is also the US third largest export market for agricultural products including corn, soybeans, dairy products, pork and beef and is the second largest source of imported agricultural goods including fresh vegetables, fresh fruit, wine and beer, snack foods and processed fruit & vegetables. In 2016, the US recorded a USD 59 billion trade deficit with Mexico. 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-43689.00 -43543.00 1946.00 -67823.00 1950 - 2017 USD Million Monthly
SA




balance of trade by Country

Last
Australia 460.00 Jul/17
Brazil 5599.00 Aug/17
Canada -3040.40 Jul/17
China 419.92 Aug/17
Euro Area 23156.00 Jul/17
France -5968.00 Jul/17
Germany 19500.00 Jul/17
India -11643.96 Aug/17
Indonesia 1722.60 Aug/17
Italy 6560.39 Jul/17
Japan 113.64 Aug/17
Mexico -1522.60 Jul/17
Netherlands 4711.00 Jul/17
Russia 3970.00 Jul/17
South Korea 7013.00 Aug/17
Spain -2099000.00 Jul/17
Switzerland 2173.00 Aug/17
Turkey -8842.94 Jul/17
United Kingdom -2872.00 Jul/17
United States -43689.00 Jul/17