The trade deficit in the US widened to a new record of USD 74.4 billion in March 2021, from a revised USD 70.5 billion in the previous month and compared with market expectations of a USD 74.5 billion gap. Imports jumped 6.3 percent to an all-time high as the domestic demand consolidated its recovery amid re-opening efforts. Purchases rose for consumer goods, industrial supplies and materials, capital goods and vehicles, while tourism-related services also saw a solid increase. At the same time, exports rose 6.6 percent to a 13-month high, boosted by sales of industrial supplies and materials, capital and consumer goods. Exports of services such as travel and transport were also up. source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -15743 USD Million from 1950 until 2021, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -74448 USD Million in March of 2021. 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 May of 2021.
Balance of Trade in the United States is expected to be -63000.00 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 -52000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -63000.00 USD Million in 2022 and -55000.00 USD Million in 2023, according to our econometric models.