The US trade gap widened to a three-month high of $73.3 billion in September of 2022 from a downwardly revised $65.7 billion deficit in August and above market forecasts of $72.2 billion. It reflects an increase in the goods deficit of $6.6 billion to $92.7 billion and a decrease in the services surplus of $1.0 billion to $19.5 billion. Total imports went up 1.5% to $331.3 billion, prompted by purchases of semiconductors, civilian aircraft, telecommunications equipment, cell phones, pharmaceutical preparations, travel and transport services. On the other hand, imports fell for fuel, crude and other petroleum products. Meanwhile, exports went down 1.1% to $258 billion, led by lower sales of crude oil, nonmonetary gold, and soybeans while shipments went up for telecommunications equipment, semiconductors and services, including travel and financial. The deficit increased with the EU and Mexico but narrowed with China. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States averaged -16941.95 USD Million from 1950 until 2022, reaching an all time high of 1946.00 USD Million in June of 1975 and a record low of -106917.00 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 December of 2022.

Balance of Trade in the United States is expected to be -67000.00 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 -65000.00 USD Million in 2023 and -85000.00 USD Million in 2024, according to our econometric models.

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United States Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-10-05 12:30 PM Aug $-67.4B $-70.5B $-67.7B $-68B
2022-11-03 12:30 PM Sep $-73.3B $-65.7B $-72.2B $-72B
2022-12-06 01:30 PM Oct $-73.3B $-73B


Related Last Previous Unit Reference
Balance of Trade -73282.00 -65679.00 USD Million Sep 2022
Current Account -251090.00 -282540.00 USD Million Jun 2022
Exports 258004.00 260793.00 USD Million Sep 2022
Imports 331287.00 326472.00 USD Million Sep 2022
Goods Trade Balance -99002.00 -91914.00 USD Million Oct 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).
Actual Previous Highest Lowest Dates Unit Frequency
-73282.00 -65679.00 1946.00 -106917.00 1950 - 2022 USD Million Monthly
SA

News Stream
US Trade Gap Widens More Than Expected
The US trade gap widened to a three-month high of $73.3 billion in September of 2022 from a downwardly revised $65.7 billion deficit in August and above market forecasts of $72.2 billion. It reflects an increase in the goods deficit of $6.6 billion to $92.7 billion and a decrease in the services surplus of $1.0 billion to $19.5 billion. Total imports went up 1.5% to $331.3 billion, prompted by purchases of semiconductors, civilian aircraft, telecommunications equipment, cell phones, pharmaceutical preparations, travel and transport services. On the other hand, imports fell for fuel, crude and other petroleum products. Meanwhile, exports went down 1.1% to $258 billion, led by lower sales of crude oil, nonmonetary gold, and soybeans while shipments went up for telecommunications equipment, semiconductors and services, including travel and financial. The deficit increased with the EU and Mexico but narrowed with China.
2022-11-03
US Trade Gap Lowest in 15 Months
The trade deficit in the US narrowed to $67.4 billion in August of 2022, the lowest since May last year, and slightly below market forecasts of a $67.7 billion gap. It reflected a decrease in the goods deficit of $3.4 billion to $87.6 billion and a decrease in the services surplus of $0.4 billion to $20.2 billion. Imports declined 1.1% to $326.3 billion, led by falls in crude and fuel oil, semiconductors, civilian aircrafts and computers. On the other hand, purchases rose for passenger cars, travel and charges for use of intellectual property. Meanwhile, exports fell at a much slower 0.3% to $258.9 billion, with main decreases seen for nonmonetary gold, crude oil, passenger cars and travel, while shipments of natural gas, pharmaceutical preparations and financial services went up.
2022-10-05
US Trade Deficit Narrows Sharply
The trade deficit in the US narrowed by $10.2 billion to a 9-month low of $70.7 billion in July 2022, broadly in line with market forecasts of $70.3 billion. Total exports were up 0.2% to a new all-time high of $259.3 billion as a rise in exports of services offset a decline in goods shipments. Meanwhile, imports went down by 2.9% to $329.9 billion as a decline in imports of consumer goods and industrial supplies offset a rise in shipments of automotive vehicles and parts. The deficit with China was down by $3.9 billion to $33.0 billion in July with exports rising to $12.8 billion and imports decreasing to $45.8 billion.
2022-09-07