The trade deficit in the US widened to $71.2 billion in May of 2021 from an upwardly revised $69.1 billion in April and compared to market forecasts of $71.4 billion as the goods deficit increased by $2.3 billion to $89.2 billion and services surplus was up $0.1 billion to $17.9 billion. Imports were up 1.3% to $277.3 billion due to crude oil, fuel oil and lumber; foods, feeds, and beverages; and travel. Exports edged up 0.6% to $206.0 billion, led by pharmaceutical preparations; foods, feeds, and beverages; travel; and charges for the use of intellectual property. The deficit with China decreased $5.1 billion to $27.2 billion but gaps increased with the EU ($2.4 billion to $18.5 billion) and Canada ($1.8 billion to $4.8 billion). source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -15863.80 USD Million from 1950 until 2021, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -75025 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 August of 2021.
Balance of Trade in the United States is expected to be -60000.00 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 -63000.00 USD Million in 2022 and -55000.00 USD Million in 2023, according to our econometric models.