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. source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -16844.45 USD Million from 1950 until 2022, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -107651 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 October of 2022.
Balance of Trade in the United States is expected to be -80000.00 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 -51000.00 USD Million in 2023 and -55000.00 USD Million in 2024, according to our econometric models.