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

The goods and services deficit in the United States narrowed to USD 44.3 billion in December of 2016 from an upwardly revised USD 45.7 billion gap a month earlier and lower than market expectations of a USD 45 billion shortfall. Exports rose 2.7% to USD 190.7 billion boosted by higher sales of civilian airplanes and aircraft engines. Imports were up 1.5% to 235 billion, including a rise in car imports. For all of 2016, the trade deficit was USD 502.25 billion, the highest annual level since 2012 and a 0.4% increase from 2015’s gap of USD 500.36 billion. The deficit with Mexico rose 4.2% to USD 63.2 billion in 2016, five-year high.The deficit with China declined 5.5% in 2016, but it still totaled USD 347 billion, more than three-fifths of the overall deficit. Balance of Trade in the United States averaged -13602.69 USD Million from 1950 until 2016, 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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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-06 01:30 PM Oct $-42.6B $-36.2B $-41.8B $ -39B
2017-01-06 01:30 PM Nov $-45.2B $-42.4B $-42.5B $-45B
2017-02-07 01:30 PM Dec $-44.3B $-45.7B $-45B $ -45.4B
2017-03-07 01:30 PM Jan $-44.3B $ -44.2B
2017-04-04 12:30 PM Feb $ -45B
2017-05-04 12:30 PM Mar $ -44.4B




US Trade Deficit Narrows in December


The goods and services deficit in the United States narrowed to USD 44.3 billion in December of 2016 from an upwardly revised USD 45.7 billion gap a month earlier and lower than market expectations of a USD 45 billion shortfall. Exports reached the highest in 1-1/2-years with shipments of advanced technology goods hitting a record high. Considering full 2016, the trade deficit widened 0.4 percent to a four-year high of USD 502.3 billion.

The smaller gap in December reflected a decrease in the goods deficit of USD 1.2 billion to USD 65.7 billion and an increase in the services surplus of USD 0.3 billion to USD21.4 billion.

Total exports jumped 2.7 percent to USD 190.7 billion, the highest value since April of 2015.  It follows a 0.2 percent fall in November and a 1.8 percent drop in October and is the biggest gain since September of 2012 when sales went up 2.9 percent. Exports of goods increased 3.9 percent to USD 126.9 billion, mainly boosted by capital goods (USD 3.3 billion); civilian aircraft (USD 1.0 billion); engines for civilian aircraft (USD 1.0 billion); industrial supplies and materials (USD 0.7 billion); natural gas (USD 0.2 billion) and fuel oil (USD 0.2 billion). Exports of services increased 0.4 percent to USD 63.8 billion: transport, which includes freight and port services and passenger fares, rose by USD 0.1 billion and travel (for all purposes including education) increased USD 0.1 billion.

Among main trade partners, exports surged to the European Union (10.1 percent), Japan (4.2 percent) and to OPEC (26.5 percent). In contrast, shipments fell to China (-4.1 percent), Canada (-2.8 percent), Mexico (-2.5 percent) and Brazil (-14 percent). 

Total imports went up 1.5 percent to USD 235 billion, the highest since March of 2015. It follows a 1.2 percent rise in both November and October. Imports of goods increased 1.9 percent to USD 192.6 billion including automotive vehicles, parts, and engines (USD 1.6 billion); passenger cars (USD 1.4 billion); industrial supplies and materials (USD 1.1 billion); natural gas (USD 0.4 billion); fertilizers, pesticides, and insecticides( USD 0.4 billion) and capital goods (USD 1.0 billion). Imports of services were nearly unchanged at USD 42.3 billion. 

Imports from Brazil jumped 12 percent and from Japan increased 7.6 percent. In contrast, purchases fell from China (-7.6 percent), Canada (-4.4 percent), Mexico (-7.4 percent), the EU (-1.2 percent) and OPEC (-4.3 percent). 

The country recorded trade deficits with all main trade partners in December: China (USD -27.8 billion); European Union (USD -12.3 billion); Japan (USD -6.5 billion); Mexico (USD -4.4 billion) and Canada (USD -2.2 billion).

Considering full 2016, the goods and services deficit increased USD 1.9 billion or 0.4 percent from 2015 to USD 502.25 billion . Exports decreased USD 51.7 billion or 2.3 percent to USD 2209.42 billion. Imports fell USD 49.9 billion or 1.8 percent to USD 2711.67 billion. Among main trading partners, the deficit rose with: Mexico (4.2% to USD 63.2 billion, five-year high) and Japan (USD 68.94 billion from USD 68.92 billion). In contrast, it narrowed with Canada (USD 11.24 billion from USD 15.55 billion), the European Union (USD 146.34 billion from USD 155.57 billion) and China (5.5% to USD 347 billion). Still, the gap with China accounts for  more than three-fifths of the overall U.S. trade deficit. and is by far the largest among the major US trading partners. 

BEA | Joana Taborda | joana.taborda@tradingeconomics.com
2/7/2017 2:52:40 PM



United States Trade Last Previous Highest Lowest Unit
Balance of Trade -44262.00 -45730.00 1946.00 -67823.00 USD Million [+]
Exports 190688.00 185652.00 200236.00 772.00 USD Million [+]
Imports 234950.00 231382.00 241483.00 577.00 USD Million [+]
Current Account -112958.00 -118271.00 9957.00 -216063.00 USD Million [+]
Current Account to GDP -2.70 -2.20 0.20 -6.00 percent [+]
External Debt -7781138.00 -8042807.00 -1232107.00 -8042807.00 USD Million [+]
Terms of Trade 99.82 100.06 168.28 91.82 Index Points [+]
Capital Flows -42795.00 30231.00 272938.00 -199258.00 USD Million [+]
Foreign Direct Investment 41776.00 39294.00 46165.00 -9988.00 USD Million [+]
Net Long Term Tic Flows -12872.00 34436.00 160371.00 -72882.00 USD Million [+]
Gold Reserves 8133.46 8133.46 8149.05 8133.46 Tonnes [+]
Crude Oil Production 8904.00 8807.00 10044.00 3983.00 BBL/D/1K [+]
Terrorism Index 4.88 4.61 7.39 3.70 [+]
Tourist Arrivals 5978189.00 6164558.00 8364940.00 2095665.00 [+]
Weapons Sales 10484.00 10470.00 16120.00 1705.00 USD Million [+]



United States Balance of Trade Notes

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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-44262.00 -45730.00 1946.00 -67823.00 1950 - 2016 USD Million Monthly
SA



Last
Afghanistan -7159.00 Dec/15
Albania -15870.70 Jan/17
Algeria -1308.00 Dec/15
Angola 4470.03 Jun/16
Argentina -106.00 Jan/17
Armenia -115.70 Jan/17
Aruba -465.10 Sep/16
Australia 3511.00 Dec/16
Austria -284.00 Nov/16
Azerbaijan 981353.00 Sep/16
Bahamas -517.60 Sep/16
Bahrain 312.40 Dec/15
Bangladesh -113.51 Nov/16
Barbados -213020.00 Nov/16
Belarus -493.30 Dec/16
Belgium 1837.10 Dec/16
Belize -156.00 Dec/16
Benin -278.15 Sep/16
Bhutan -35828.70 Dec/16
Bolivia -116.89 Sep/16
Bosnia and Herzegovina -609171.99 Dec/16
Botswana 1541.10 Nov/16
Brazil 2724.00 Jan/17
Brunei 203.30 Dec/16
Bulgaria -408.10 Dec/16
Burkina Faso -86.40 Mar/16
Burundi -118434.20 Aug/16
Cambodia -554.50 Sep/16
Cameroon -1189.42 Dec/14
Canada 922.80 Dec/16
Cape Verde -5560.90 Nov/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 719.92 Jan/17
China 513.50 Jan/17
Colombia -0.67 Dec/16
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -539.10 Jan/17
Croatia -4663.06 Dec/16
Cuba -9578.00 Dec/15
Cyprus -407621.00 Dec/16
Czech Republic 21481.00 Dec/16
Denmark 3788.10 Dec/16
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -9404.27 Dec/16
Ecuador 15100.00 Dec/16
Egypt -2392.00 Nov/16
El Salvador -424.16 Dec/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -170.31 Dec/16
Ethiopia -3565.10 Sep/16
Euro Area 28142.20 Dec/16
European Union 20885.30 Dec/16
Fiji -204403.00 Sep/16
Finland -530.00 Dec/16
France -3421.00 Dec/16
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -297.60 Jan/17
Germany 18700.00 Dec/16
Ghana -452.40 Sep/16
Greece -1566.60 Dec/16
Guatemala -488.00 Dec/16
Guinea 32.97 Sep/16
Guinea Bissau 8.20 Dec/15
Guyana -133.90 Sep/16
Haiti -236.40 Sep/16
Honduras -490.00 Nov/16
Hong Kong -45477.00 Dec/16
Hungary 173000.00 Dec/16
Iceland -6700.00 Jan/17
India -9840.90 Jan/17
Indonesia 1395.80 Jan/17
Iran 4127.00 Sep/16
Iraq 4397.00 Dec/15
Ireland 4017900.00 Dec/16
Israel -705.40 Jan/17
Italy 5797.75 Dec/16
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan -1086.90 Jan/17
Jordan -791300.00 Nov/16
Kazakhstan 1443.10 Dec/16
Kenya -79843.00 Nov/16
Kosovo -247031.00 Dec/16
Kuwait 1422.20 Sep/16
Kyrgyzstan -114.40 Dec/16
Laos -339.15 Jun/16
Latvia -240.10 Dec/16
Lebanon -1292.24 Dec/16
Lesotho -2305.61 Sep/16
Liberia -82.20 Sep/16
Libya -7687.60 Dec/15
Liechtenstein 343493.00 Dec/16
Lithuania -238.00 Dec/16
Luxembourg -0.44 Nov/16
Macau -6002747.00 Dec/16
Macedonia -201662.00 Dec/16
Madagascar 20810.00 Dec/16
Malawi -53950.00 Mar/16
Malaysia 8720.00 Dec/16
Maldives -171.90 Nov/16
Mali -226.10 Sep/15
Malta -151832.00 Dec/16
Mauritania -79.64 Mar/16
Mauritius -8944.00 Nov/16
Mexico 28.00 Dec/16
Moldova -197.50 Dec/16
Monaco -104.50 Jun/16
Mongolia 151.40 Jan/17
Montenegro -140962.00 Dec/16
Morocco -16689.00 Dec/16
Mozambique -434.30 Sep/16
Myanmar -303.20 May/16
Namibia -6654.37 Sep/16
Nepal -80884.00 Jun/16
Netherlands 5494.00 Dec/16
New Caledonia -7307.00 Oct/16
New Zealand -41.38 Dec/16
Nicaragua -294.50 Nov/16
Niger -108402.00 Sep/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 25045.75 Jan/17
Oman 90.00 Sep/16
Pakistan -309673.00 Jan/17
Palestine -372.00 Dec/16
Panama -1009640.52 Dec/16
Papua New Guinea 3223.00 Jun/16
Paraguay -209595.00 Jan/17
Peru 1023.00 Dec/16
Philippines -2564000.00 Dec/16
Poland -151.00 Dec/16
Portugal -1373.50 Dec/16
Puerto Rico 2204.40 Nov/16
Qatar 10746.00 Dec/16
Republic of the Congo 4092.35 Dec/10
Romania -1185.40 Dec/16
Russia 11834.00 Dec/16
Rwanda -116.57 Nov/16
Sao Tome and Principe -27.04 Dec/16
Saudi Arabia 73133.00 Sep/16
Senegal -96.90 Dec/16
Serbia -514.40 Dec/16
Seychelles -38.40 Dec/16
Sierra Leone -52.89 Jun/16
Singapore 3287.37 Jan/17
Slovakia -120.00 Dec/16
Slovenia 18.80 Dec/16
Somalia -1473.48 Dec/15
South Africa 12036.48 Dec/16
South Korea 3200.00 Jan/17
South Sudan -104.70 Dec/15
Spain -2447000.00 Dec/16
Sri Lanka -957.00 Dec/16
Sudan -338394.00 Sep/16
Suriname 42.20 Sep/16
Swaziland -320.72 Jun/16
Sweden 1000.00 Dec/16
Switzerland 4733.00 Jan/17
Syria 9394.50 Dec/10
Taiwan 3494.92 Jan/17
Tajikistan -196.00 Dec/16
Tanzania -26.00 Nov/16
Thailand 940.00 Dec/16
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -1221.80 Jan/17
Turkey -5598.00 Dec/16
Turkmenistan 2181.97 Dec/15
Uganda -143.40 Dec/16
Ukraine -561.70 Dec/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -3304.00 Dec/16
United States -44262.00 Dec/16
Uruguay -127557.00 Dec/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam 1150.00 Jan/17
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16