The United States recorded a trade deficit of 65.50 USD Billion in June of 2023. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States averaged -17.46 USD Billion from 1950 until 2023, reaching an all time high of 1.95 USD Billion in June of 1975 and a record low of -102.54 USD Billion 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 August of 2023.

Balance of Trade in the United States is expected to be -70.00 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States Balance of Trade



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-06 12:30 PM May $-69B $-74.4B $-69B $-68.7B
2023-08-08 12:30 PM Jun $-65.5B $-68.3B $-65B $-65.1B
2023-09-06 12:30 PM Jul $-65.5B $-65.8B $-68.1B


Related Last Previous Unit Reference
Balance of Trade -65.50 -68.29 USD Billion Jun 2023
Current Account -219.30 -216.15 USD Billion Mar 2023
Exports 247.48 247.83 USD Billion Jun 2023
Imports 312.98 316.12 USD Billion Jun 2023
Goods Trade Balance -91180.00 -88830.00 USD Million Jul 2023

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).
Actual Previous Highest Lowest Dates Unit Frequency
-65.50 -68.29 1.95 -102.54 1950 - 2023 USD Billion Monthly
SA

News Stream
US Trade Gap Lowest in 3 Months
The US trade deficit narrowed to a three-month low of $65.5 billion in June 2023 from a downwardly revised $68.3 billion in May, and roughly in line with market expectations of a $65 billion gap. Imports declined 1% to $313 billion, the lowest level since November of 2021, led by falls in purchases of computers, finished metal shapes, crude oil, artwork and other collectibles, gem diamonds and travel. On the other hand, imports increased for nonmonetary gold, passenger cars and pharmaceutical preparations. Exports edged down 0.1% to $247.5 billion, the lowest since March last year, dragged down by sales of crude oil, fuel oil, natural gas, pharmaceutical preparations, civilian aircraft and transport. Exports were up for nonmonetary gold, gem diamonds, other industrial machinery and telecommunications equipment. The deficit with China decreased $2.1 billion to $22.8 billion in June. The balance with the UK shifted to a deficit of $0.8 billion from a surplus of $1.2 billion in May.
2023-08-08
US Trade Gap Falls Slightly as Expected
The US trade gap narrowed slightly to $69 billion in May of 2023 from $74.4 billion in April, in line with market expectations. Imports went down 2.3% to $316.1 billion, the lowest level since December 2021, led by falls in purchases of pharmaceutical preparations, cell phones, nonmonetary gold, organic chemicals, transport and travel while increases were seen for artwork and computers. Meanwhile, exports edged 0.8% lower to $247.1 billion, dragged down by purchases of soybeans, crude oil, natural gas, and charges for the use of intellectual property. On the other hand, shipments went up for passenger cars, travel and transport. In May, the biggest trade deficits were recorded with China ($-24.9 billion), the European Union ($-16.5 billion), Mexico ($-13.5 billion), Vietnam ($-8.1 billion) and the highest surpluses with the Netherlands ($3.9 billion), Belgium ($1.7 billion), Hong Kong ($1.6 billion), Australia ($1.2 billion), the United Kingdom ($1.2 billion), Brazil ($1 billion).
2023-07-06
US Trade Gap Widens Slightly Less than Expected
The trade deficit in the US widened to a six-month high of $74.6 billion in April of 2023, compared to a $60.6 billion gap in March and market forecasts of a $75.2 billion shortfall. Exports declined 3.6% to $249 billion, led by crude oil, fuel oil, pharmaceutical preparations, gem diamonds, jewelry, financial services and government goods and services while sales rose for travel. Meanwhile, imports increased 1.5% to $323.6 billion, led by passenger cars, industrial supplies and materials, finished metal shapes, nonmonetary gold, organic chemicals, cell phones and other household goods while a fall was seen in purchases of crude oil, natural gas, transport and travel services. The biggest deficits were recorded with China ($24.2 billion), European Union ($17.3 billion), Mexico ($13 billion), Vietnam ($8.5 billion) while surpluses were seen with Netherlands ($4.2 billion), South and Central America ($4.1 billion), Belgium ($1.9 billion), Hong Kong ($1.6 billion).
2023-06-07