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United States Balance of Trade
January 2023 Data – 1950-2022 Historical
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The trade deficit in the US widened to $67.4 billion in December 2022 from a downwardly revised $61 billion in November which was the lowest since September 2020.Figures compare with forecasts of a $68.5 billion gap, with exports falling 0.9% to $250.2 billion, led by nonmonetary gold, crude oil and foods, feeds and beverages while imports rose 1.3% to $317.6 billion, prompted by purchases of cell phones and passenger cars.Considering full 2022, the US trade deficit went up to a record high of $948.1 billion, equivalent to 3.7% of the GDP from $845 billion in 2021, as rising inflation, high energy prices and robust demand pushed imports to the highest level ever.The goods gap widened 9.3% to $1191.8 billion while the services surplus narrowed 0.6% to $243.7 billion.Exports of goods increased 17.7% to $2,085.6 billion and imports jumped 16.3% to $3,277.3 billion, both led by crude oil.The deficit with China widened to $382.9 billion and the one with Canada to $81.6 billion.
source:
Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -17115.04 USD Million from 1950 until 2022, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -106400 USD Million in March of 2022.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 February of 2023.
Balance of Trade in the United States is expected to be -61000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations.
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source: tradingeconomics.com
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Calendar
GMT
Reference
Actual
Previous
Consensus
TEForecast
2023-01-05
01:30 PM
Balance of Trade
Nov
$-61.5B
$-77.8B
$-73B
$-72B
2023-02-07
01:30 PM
Balance of Trade
Dec
$-67.4B
$-61B
$-68.5B
$-68.8B
2023-03-08
01:30 PM
Balance of Trade
Jan
Related
Last
Previous
Unit
Reference
Balance of Trade
-67419.00
-61015.00
USD Million
Dec 2022
Current Account
-217106.00
-238727.00
USD Million
Sep 2022
Exports
250152.00
252349.00
USD Million
Dec 2022
Imports
317571.00
313365.00
USD Million
Dec 2022
Goods Trade Balance
-90268.00
-82932.00
USD Million
Dec 2022
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 2022, the biggest trade deficits are recorded with China, Mexico, Vietnam, Canada, Germany, Japan, and Ireland, and the biggest trade surpluses with the Netherlands, Hong Kong, Brazil, Singapore, Australia, and United Kingdom.Canada is the top trading partner, accounting for 15 percent of total trade, followed by Mexico (14 percent) and China (13 percent).
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-67419.00
-61015.00
1946.00
-106400.00
1950 – 2022
USD Million
Monthly
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Balance of Trade by Country
News Stream
US Trade Gap Rises in December, Hits Record in 2022
The trade deficit in the US widened to $67.4 billion in December 2022 from a downwardly revised $61 billion in November which was the lowest since September 2020.Figures compare with forecasts of a $68.5 billion gap, with exports falling 0.9% to $250.2 billion, led by nonmonetary gold, crude oil and foods, feeds and beverages while imports rose 1.3% to $317.6 billion, prompted by purchases of cell phones and passenger cars.
Considering full 2022, the US trade deficit went up to a record high of $948.1 billion, equivalent to 3.7% of the GDP from $845 billion in 2021, as rising inflation, high energy prices and robust demand pushed imports to the highest level ever.The goods gap widened 9.3% to $1191.8 billion while the services surplus narrowed 0.6% to $243.7 billion.
Exports of goods increased 17.7% to $2,085.6 billion and imports jumped 16.3% to $3,277.3 billion, both led by crude oil.
The deficit with China widened to $382.9 billion and the one with Canada to $81.6 billion.
2023-02-07
US Trade Gap Lowest in Over 2 Years
The US trade deficit narrowed to $61.5 billion in November of 2022, the lowest since September of 2020, and below forecasts of a $73 billion gap.
It reflected a decrease in the goods deficit of $15.3 billion to $84.1 billion and an increase in the services surplus of $1.0 billion to $22.5 billion.Total exports were down 2% to $251.9 billion, led by falls in sales of natural gas, crude oil, nonmonetary gold, civilian aircraft and travel while shipments rose for pharmaceutical preparations, telecommunications, computer, and information services and charges for the use of intellectual property.Meanwhile, imports of goods and services declined 6.4% to $313.4 billion, due a broad-based decrease, namely pharmaceutical preparations, cell phones, crude oil, passenger cars, computers and travel.The deficit with China decreased $5.8 billion to $20.4 billion and the gap with the EU narrowed $3.6 billion to $19.5 billion.
2023-01-05
US Trade Gap Below Forecasts
The US trade gap widened to a four-month high of $78.2 billion in October of 2022, following an upwardly revised $74.1 billion deficit in September and compared to market forecasts of $80 billion.
Exports went down 0.7%, a second consecutive monthly fall, to $256.6 billion, the lowest value since May.Sales fell for natural gas, other petroleum products and pharmaceutical preparations but rose for crude oil, soybeans, travel, transport and business services.Meanwhile, imports were up 0.6% to $334.8 billion, the highest since June, led by purchases of fuel oil, finished metal shapes, nuclear fuel materials, passenger cars, pharmaceutical preparations, travel, telecommunication, computers and travel.On the other hand, imports decreased for cell phones, toys, games, sporting goods and transport.
On an inflation-adjusted basis, the October merchandise trade deficit increased to $112.6 billion, also the widest in four months.
2022-12-06
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