International trade is an increasingly important component of the European economy. Since its early foundations were laid by the European Coal & Steel Community (ECSC) founded in 1951, trade between European member states has been at the core of the European project. International trade, that is, trade which the European Union does externally with countries who are not member states, has become a greater focus of the bloc in recent years, as the EU attempts to increase the global reach of its companies, while reaping the benefits of cheaper imports. The EU has put particular importance on reaching trade agreements with partners outside the union, as this removes trade barriers such as tariffs, quotas, as well as non-tariff barriers (such as regulations, licenses, and sanctions) which hamper trade activity. EU Trade Deals Recent trade agreements include the Comprehensive Economic & Trade Agreement with Canada (while not ratified by the member states' parliaments, it had been effectively in force since 2017) and the Japan-EU Economic partnership agreement, in force since 2019. The most significant regions which the EU has not concluded free trade agreements with are the United States, Russia, and China. The Transatlantic Trade & Investment Partnership (TTIP) between the U.S. and EU broke down at the negotiation stage, with powerful economic & political actors on the European side, such as trade unions, opposing the deal from the beginning, while the election of Donald Trump as President of the U.S. effectively ended any hopes of the deal being completed due to his "America First" trade policies. With the increasing geopolitical and economic competition between the U.S. and China, the EU now finds itself caught between the two superpowers, and is unlikely to be able to conclude a trade agreement with either without antagonizing the other country. EU trade with Russia, on the other hand, has broken down in light of Russia's invasion of Ukraine in 2022 and the subsequent sanctions imposed by the European member states.

Key information about United States Total Trade of Goods and Services: % of Nominal GDP

• United States Total Trade of Goods & Services: % of Nominal GDP recorded 24.724 % in Dec 2024, compared with 25.445 % in the previous quarter.
• United States Total Trade of Goods & Services: % of Nominal GDP data is updated quarterly, available from Mar 1947 to Dec 2024, with an averaged value of 18.704 %.
• The data reached an all-time high of 31.839 % in Sep 2008 and a record low of 7.613 % in Dec 1949.

CEIC calculates quarterly Total Trade of Goods and Services as % of Nominal GDP from quarterly Total Trade of Goods and Services and quarterly Nominal GDP. The Bureau of Economic Analysis provides Total Trade of Goods and Services in USD and Nominal GDP in USD.

The Gross Domestic Product (GDP) in the United States was worth 29184.89 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United States represents 27.49 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, exports of goods and services from the United States made up about eleven percent of its gross domestic product (GDP). This is an increase from 9.25 percent of GDP of the United States in 1990. U.S. exports The GDP of the United States is the largest in the world, clocking in at more than 20 trillion U.S. dollars in 2022. It is additionally one of the world's largest exporters, second only to China. United States exports surpassed three trillion dollars in 2022, its highest level ever. Balance of trade The balance of trade in the United States has been a longstanding topic of conversation among economists, business interests, and politicians. When a country imports more than it exports, this is known as a trade deficit. While large export industries have been present in the United States for many years, the U.S. trade deficit has been increasing and is the largest volume of any nation.

United States US: Goods Trade: % of GDP data was reported at 20.403 % in 2017. This records an increase from the previous number of 19.873 % for 2016. United States US: Goods Trade: % of GDP data is updated yearly, averaging 15.276 % from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 24.156 % in 2011 and a record low of 6.531 % in 1962. United States US: Goods Trade: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Trade Statistics. Merchandise trade as a share of GDP is the sum of merchandise exports and imports divided by the value of GDP, all in current U.S. dollars.; ; World Trade Organization, and World Bank GDP estimates.; Weighted average;

In 2023, transatlantic trade accounted for 43 percent of total global GDP and 30 percent of global trade, underscoring the significance of this longstanding economic partnership. However, the introduction of new reciprocal tariffs has plunged this historic transatlantic route into a trade war.

Merchandise trade (% of GDP) in United States was reported at 18.59 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Merchandise trade (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

GDP (current US$) in World was reported at 111326370011523 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. World - GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

United States US: GDP: % of GDP: Trade data was reported at 26.580 % in 2016. This records a decrease from the previous number of 27.890 % for 2015. United States US: GDP: % of GDP: Trade data is updated yearly, averaging 19.402 % from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 30.885 % in 2011 and a record low of 8.930 % in 1961. United States US: GDP: % of GDP: Trade data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Share of GDP. Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

The USA: Trade openness: exports plus imports as percent of GDP: The latest value from 2023 is 24.9 percent, a decline from 26.89 percent in 2022. In comparison, the world average is 94.91 percent, based on data from 153 countries. Historically, the average for the USA from 1970 to 2023 is 21.85 percent. The minimum value, 10.76 percent, was reached in 1970 while the maximum of 30.84 percent was recorded in 2011.

United States US: GDP: Real: Terms of Trade Adjustment data was reported at 107.299 USD bn in 2016. This records an increase from the previous number of 78.350 USD bn for 2015. United States US: GDP: Real: Terms of Trade Adjustment data is updated yearly, averaging 27.480 USD bn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 107.299 USD bn in 2016 and a record low of -68.643 USD bn in 2008. United States US: GDP: Real: Terms of Trade Adjustment data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Real. The terms of trade effect equals capacity to import less exports of goods and services in constant prices. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

The average for 2023 based on 18 countries was -4.91 percent. The highest value was in Puerto Rico: 6.12 percent and the lowest value was in Honduras: -23.93 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

The Gross Domestic Product (GDP) in the United States expanded 3 percent in the second quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of 2023, Mexico and Canada were considerably more reliant on trade than the United States. While trade in goods and services made up over 70 percent of Mexico's GDP in 2023, only 25 percent of the U.S. GDP was made up by trade. The United States-Mexico-Canada Agreement (USMCA) is a trade deal that replaced NAFTA in 2020 in an attempt to boost North American trade while protecting domestic industries. Designed to facilitate free trade among the members, most goods crossing North American borders are supposed to be duty-free.

The average for 2023 based on 137 countries was -3.03 percent. The highest value was in Macao: 43.36 percent and the lowest value was in Kiribati: -85.09 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Graph and download economic data for Net Exports of Goods and Services (NETEXP) from Q1 1947 to Q2 2025 about exports, Net, goods, services, GDP, and USA.

Historical chart and dataset showing Virgin Islands (U.S.) trade to gdp ratio by year from 2002 to 2022.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Trade in services (% of GDP) of World dipped by 2.45% from 14.3 % in 2023 to 13.9 % in 2024. Since the 10.89% surge in 2022, trade in services (% of GDP) improved by 2.18% in 2024. Trade in services is the sum of service exports and imports divided by the value of GDP, all in current U.S. dollars.

The Gross Domestic Product (GDP) in World was worth 111326.37 billion US dollars in 2024, according to official data from the World Bank. This dataset includes a chart with historical data for World GDP.