The US trade deficit increased slightly to a three-month high of $68.3 billion in January of 2023 from a downwardly revised $67.2 billion in December, compared to market forecasts of a $68.9 billion gap. Exports were up 3.4% to $257.5 billion, led by sales of pharmaceutical preparations, civilian aircraft, telecommunications equipment and passenger cars while a decline was seen for travel and transport. Meanwhile, imports rose 3% to $325.8 billion, prompted by purchases of cell phones, pharmaceutical preparations, toys, games, and sporting good, trucks, buses, and special purpose vehicles, passenger cars, electric apparatus, telecommunications equipment and travel. The US recorded trade deficits with China ($21.9 billion), the EU ($18.5 billion), Mexico ($12.2 billion), Vietnam ($8 billion), Japan ($5.6 billion) and Canada ($5.4 billion) while surpluses were seen with South and Central America ($4.8 billion), the UK ($2.7 billion), Australia ($1.5 billion) and Hong Kong ($1.5 billion). source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -17170.26 USD Million from 1950 until 2023, reaching an all time high of 1946.00 USD Million in June of 1975 and a record low of -106445.00 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 March 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.