The US trade deficit widened to USD 55.5 billion in May 2019 from a revised USD 51.2 billion in the previous month and compared to market expectations of USD 54.0 billion. Imports surged 3.3 percent and exports rose at softer 2 percent. The politically sensitive goods trade deficit with China increased 12.2 percent to USD 30.2 billion despite the recent increase in import tariffs on Chinese goods. Balance of Trade in the United States averaged -14837.20 USD Million from 1950 until 2019, 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.

Balance of Trade in the United States is expected to be -56000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in the United States to stand at -55000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -63000.00 USD Million in 2020, according to our econometric models.

United States Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-17 12:30 PM Balance of Trade Feb $-49.4B $-51.1B $-53.5B $-52.8B
2019-05-09 12:30 PM Balance of Trade Mar $-50B $-49.3B $-50.2B $ -50.1B
2019-06-06 12:30 PM Balance of Trade Apr $-50.8B $-51.9B $-50.7B $-51.2B
2019-07-03 12:30 PM Balance of Trade May $-55.5B $-51.2B $-54B $-54.3B
2019-08-02 12:30 PM Balance of Trade Jun $-55.5B $ -49B
2019-09-04 12:30 PM Balance of Trade Jul
2019-10-04 12:30 PM Balance of Trade Aug



US Trade Deficit Largest in 5 Months

The US trade deficit widened to USD 55.5 billion in May 2019 from a revised USD 51.2 billion in the previous month and compared to market expectations of USD 54.0 billion. That was the largest trade gap since December.

Exports from the US rose USD 4.2 billion from the previous month to USD 210.6 billion in May. Goods exports increased USD 3.9 billion to USD 140.8 billion, boosted by sales of capital goods (up USD 1.4 billion), in particular civilian aircraft and telecommunications equipment; consumer goods (up USD 0.8 billion), such as gem diamonds, jewelry and pharmaceutical preparations; soybeans (up USD 0.7 billion); and automotive vehicles, parts, and engines (up USD 0.6 billion). Exports of services, including travel, transport and maintenance and repair services increased USD 0.3 billion to USD 69.8 billion in May.

On a non seasonally adjusted basis, goods exports rose to all main partners: China (14.9 percent), Japan (16.2 percent), the EU (3.9 percent), Canada (3.0 percent), Brazil (8.8 percent), Mexico (1.1 percent) and OPEC (18.8 percent).

Imports to the US jumped USD 8.5 billion to USD 266.2 billion. Goods imports surged USD 8.3 billion to USD 217.0 billion on the back of purchases of automotive vehicles, parts, and engines (up USD 2.3 billion), in particular passenger cars; industrial supplies and materials (up USD 1.8 billion) due to crude oil; capital goods (up USD 1.6 billion) such as semiconductors, computers and computer accessories; and consumer goods (up USD 1.4 billion). Imports of services, including transport, were up USD 0.2 billion to USD 49.2 billion in May.

On a non seasonally adjusted basis, goods imports increased from China (12.8 percent), Canada (9.5 percent), Mexico (5.6 percent), the EU (1.2 percent), Brazil (22.3 percent), and OPEC (18.5 percent); but fell from Japan (-7.5 percent).

The politically sensitive goods trade deficit with China increased 12.2 percent to USD 30.2 billion in May from USD 26.9 billion in April. Also, the trade deficit widened with Canada (USD 3.3 billion from USD 1.5 billion) and Mexico (USD 9.6 billion from USD 8.2 billion); but narrowed with the EU (USD 17.2 billion from USD 17.7 billion) and Japan (USD 5.3 billion from USD 7.2 billion).


US Census Bureau | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/3/2019 12:58:09 PM



United States Trade Last Previous Highest Lowest Unit
Balance of Trade -55520.00 -51224.00 1946.00 -67823.00 USD Million [+]
Current Account -130400.00 -143927.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.40 -2.30 0.20 -6.00 percent [+]
Imports 266156.00 257635.00 266816.00 577.00 USD Million [+]
Exports 210636.00 206411.00 213341.00 772.00 USD Million [+]
External Debt 20006050.00 19765887.00 20006050.00 6570168.00 USD Million [+]
Terms of Trade 105.85 106.43 168.28 91.82 Index Points [+]
Capital Flows 32920.00 -8995.00 272938.00 -194622.00 USD Million [+]
Foreign Direct Investment 52432.00 53720.00 55831.00 -9988.00 USD Million [+]
Net Long Term Tic Flows 3532.00 46914.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.50 8133.50 8149.05 8133.46 Tonnes [+]
Crude Oil Production 12162.00 11905.00 12162.00 3971.00 BBL/D/1K [+]
Tourism Revenues 21547.00 21389.00 21891.00 6496.00 USD Million [+]
Tourist Arrivals 6227283.00 5051167.00 8364941.00 2094287.00 [+]
Terrorism Index 6.07 5.43 7.39 3.70 [+]
Weapons Sales 10508.00 12485.00 15725.00 1742.00 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 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. China is the top trading partner, accounting for 16 percent of total trade, followed by Canada (15 percent) and Mexico (15 percent). 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-55520.00 -51224.00 1946.00 -67823.00 1950 - 2019 USD Million Monthly
SA




Country Last Previous
Argentina 1373.00 May/19
Australia 5745.00 May/19
Brazil 5020.00 Jun/19
Canada 762.30 May/19
China 509.76 Jun/19
Euro Area 23033.60 May/19
France -3278.00 May/19
Germany 20600.00 May/19
India -15280.00 Jun/19
Indonesia 196.00 Jun/19
Italy 5347.00 May/19
Japan 589.46 Jun/19
Mexico 1030.71 May/19
Netherlands 5579.00 May/19
Russia 11823.00 May/19
Saudi Arabia 131636.00 Mar/19
Singapore 2447.29 Jun/19
South Africa 1737.21 May/19
South Korea 4168.00 Jun/19
Spain -1605300.00 Apr/19
Switzerland 3251.00 Jun/19
Turkey -1837.83 May/19
United Kingdom -2324.00 May/19
United States -55520.00 May/19


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