As of 2024, the United States had a trade deficit of about *** billion U.S. dollars. The U.S. trade deficit has increased since 2009, peaking in 2022. Most recently, 2023 marked the year when the U.S. trade deficit decreased from the previous year. What is trade deficit? A trade deficit is, quite simply, the total value of a country’s imports of goods and services minus the total value of its exports of goods and services. When a country exports more than it imports, it has a trade surplus, and when it imports more than it exports, it has a trade deficit. A trade deficit can mean one of two things: Either the country is failing to produce enough goods for its citizens, or its citizens are wealthy enough to purchase more goods than the country produces (as is the case with the United States). Trading partners The United States’ top export partners are its closest neighbors, Canada and Mexico, due in part to the North American Free Trade Agreement (NAFTA), which, pending ratification, will be replaced by the United States-Mexico-Canada Agreement (USMCA). Regarding imports to the U.S., China takes the top spot, followed by Mexico and Canada.

Canada recorded a trade deficit of 6324.40 CAD Million in August of 2025. This dataset provides the latest reported value for - Canada Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The statistic shows the trade balance of goods (exports minus imports of goods) in Canada from 2014 to 2024. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2024, the trade deficit of goods in Canada amounted to about **** billion U.S. dollars. Trade with Canada Canada reported a trade surplus until 2009 when the country’s trade balance went negative for the first time in recent history. Its deficit was ignited at the height of the global recession, and the value of exports decreased significantly at that time. It is only now showing signs of a recovery. Meanwhile, while imports decreased during the recession as well, they bounced back faster than exports. Currently, Canada maintains neither a trade deficit nor a trade surplus as both imports and exports amount to around *** billion U.S. dollars worth of goods. Canada is hoping this will continue, and it is looking to lower tariffs on exports in order to further boost the economy and increase exports. Canada has a long and strong trading relationship with the United States - Canada’s southern neighbor is without a doubt its most important export and import partner. Overall, Canada maintains an export advantage over the United States; maintaining greater export flows than import flows. The U.S. dollar is also worth more than the Canadian dollar, favoring further exports from Canada. China and Mexico also import Canadian goods, but significantly less than the United States.

The United States recorded a trade deficit of 78.31 USD Billion in July of 2025. This dataset 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.

Canada and United States bilateral trade in goods data produced by Statistics Canada and the United States Census Bureau (customs basis) and the United States Bureau of Economic Analysis (balance of payments basis). Data are presented before and after adjustments made to standardize definitions. Quarterly data are available on Customs and on Balance of payments basis and are not seasonally adjusted.

The timeline shows the total value of U.S. trade in goods (export and import) with Canada from 2004 to 2024. In 2024, the total value of U.S. trade in goods with Canada amounted to *** billion U.S. dollars; composed of ***** billion U.S. dollars in exports and ***** billion U.S. dollars in imports.

Canada CA: BOP: Current Account: Trade in Services: % of GDP data was reported at 14.326 % in 2023. This records an increase from the previous number of 13.252 % for 2022. Canada CA: BOP: Current Account: Trade in Services: % of GDP data is updated yearly, averaging 8.213 % from Dec 1960 (Median) to 2023, with 64 observations. The data reached an all-time high of 14.326 % in 2023 and a record low of 5.694 % in 1963. Canada CA: BOP: Current Account: Trade in Services: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Balance of Payments: Current Account. Trade in services is the sum of service exports and imports divided by the value of GDP, all in current U.S. dollars.;International Monetary Fund, Balance of Payments Statistics Yearbook and data files, and World Bank and OECD GDP estimates.;Weighted average;Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Key information about Canada's Trade Balance

• Canada's Trade Balance recorded a surplus of 2.8 USD bn in Jan 2025, compared with a surplus of 1.2 USD bn in the previous month
• Canada's Trade Balance data is updated monthly, available from Jan 1988 to Jan 2025, with an averaged value of 800.0 USD mn
• The data reached an all-time high of 6.4 USD bn in Oct 2005 and a record low of -4.3 USD bn in Dec 2018

CEIC calculates monthly Trade Balance from monthly Total Exports and monthly Total Imports. Statistics Canada provides Total Exports and Total Imports in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

Further information about Canada's Trade Balance

• In the latest reports, Canada's Total Exports reached 51.8 USD bn in Jan 2025, an increase of 14.1% YoY (year-on-year)
• Total Imports recorded 49.0 USD bn in Jan 2025, an increase of 14.1% YoY (year-on-year)

In 2024, the total value of U.S. trade goods amounted to approximately 5.4 trillion U.S. dollars. This shows the significance and scale of international trade for the economy of the United States. In 2024, the United States imported goods valuing around 3.3 trillion U.S. dollars from international trading partners, in comparison the value of goods exported from the United States to other countries amounted to around 2.1 trillion U.S. dollars.Import and export trade The import of trade goods relate to goods brought into the United States. This typically refers to goods grown, produced, or manufactured in other countries. Imports include goods of domestic origin which have been worked on abroad before reentering the United States. The export of trade goods refer to goods sold internationally which were grown, produced, or manufactured in the United States. It also includes commodities of foreign origin which have been changed in the United States from the form in which they were imported, or which have been enhanced in value or condition by further processing or manufacturing within the United States before again being sold internationally. Leading trade partners of the United States In 2023, Mexico was the largest source of goods imported into the United States, with goods valuing approximately 475.6 billion U.S. dollars. Mexico and Canada were the second and third largest exporters of goods to the United States, respectively. In 2023, Canada was the leading destination of goods exported from the United States, with U.S. trade goods worth over 350 billion U.S. dollars exported to Canada. Mexico and China also feature at the top of the list of importers of U.S. goods.

The interprovincial and international trade flows shows the origin and destination of trade flows by product among Canadian provinces and territories and from and to the rest of the world. The information is available at the Summary level of hierarchy of the Supply and Use Product Classification (SUPC).

Time series data for the statistic Trade_Balance_United_States_with_Canada. Indicator Definition:Goods, Value of Trade Balance, US DollarsThe indicator "Goods, Value of Trade Balance, US Dollars" stands at -2.76 Billion as of 5/31/2025. Regarding the One-Year-Change of the series, the current value constitutes an increase of 2.35 Billion compared to the value the year prior.The Serie's long term average value is -3.22 Billion. It's latest available value, on 5/31/2025, is 0.461 Billion higher, compared to it's long term average value.The Serie's change from it's minimum value, on 1/31/2025, to it's latest available value, on 5/31/2025, is +8.25 Billion.The Serie's change from it's maximum value, on 4/30/2016, to it's latest available value, on 5/31/2025, is -3.63 Billion.

Canada recorded a Current Account deficit of 21162 CAD Million in the second quarter of 2025. This dataset provides - Canada Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Time series data for the statistic Trade_Balance_Zambia_with_Canada. Indicator Definition:Goods, Value of Trade Balance, US DollarsThe indicator "Goods, Value of Trade Balance, US Dollars" stands at 18.71 Million as of 5/31/2025, the highest value at least since 2/28/1990, the period currently displayed. Regarding the One-Year-Change of the series, the current value constitutes an increase of 13.05 Million compared to the value the year prior.The Serie's long term average value is -0.837 Million. It's latest available value, on 5/31/2025, is 19.55 Million higher, compared to it's long term average value.The Serie's change from it's minimum value, on 1/31/1993, to it's latest available value, on 5/31/2025, is +25.82 Million.The Serie's change from it's maximum value, on 5/31/2025, to it's latest available value, on 5/31/2025, is 0.0 Million.

The timeline shows the U.S. trade balance of goods and services from 2000 to 2023. In 2022, the United States had a surplus of approximately 278 billion U.S. dollars in service trade, but had a deficit of over one trillion U.S. dollars in goods trade.

Graph and download economic data for Current Account Balance: Total Trade of Goods for Canada (DISCONTINUED) (BPBLTD01CAA637N) from 1990 to 2013 about current account, BOP, Canada, trade, and goods.

Canada CA: BOP: Current Account: Net Trade: Goods and Services data was reported at -5.780 USD bn in 2024. This records a decrease from the previous number of 1.355 USD bn for 2023. Canada CA: BOP: Current Account: Net Trade: Goods and Services data is updated yearly, averaging 998.716 USD mn from Dec 1960 (Median) to 2024, with 65 observations. The data reached an all-time high of 45.678 USD bn in 2005 and a record low of -38.584 USD bn in 2015. Canada CA: BOP: Current Account: Net Trade: Goods and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Balance of Payments: Current Account. Net trade in goods and services is derived by offsetting imports of goods and services against exports of goods and services. Exports and imports of goods and services comprise all transactions involving a change of ownership of goods and services between residents of one country and the rest of the world. Data are in current U.S. dollars.;International Monetary Fund, Balance of Payments Statistics Yearbook and data files.;;Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

The United States' total Imports in 2024 were valued at US$3.36 Trillion, according to the United Nations COMTRADE database on international trade. The United States' main import partners were: Mexico, China and Canada. The top three import commodities were: Machinery, nuclear reactors, boilers; Electrical, electronic equipment and Vehicles other than railway, tramway. Total Exports were valued at US$2.06 Trillion. In 2024, The United States had a trade deficit of US$1.29 Trillion.

Time series data for the statistic Trade_Balance_Canada_with_China. Indicator Definition:Goods, Value of Trade Balance, US DollarsThe indicator "Goods, Value of Trade Balance, US Dollars" stands at -4.80 Billion as of 5/31/2025, the lowest value since 9/30/2024. Regarding the One-Year-Change of the series, the current value constitutes an decrease of -1.02 Billion compared to the value the year prior.The Serie's long term average value is -1.96 Billion. It's latest available value, on 5/31/2025, is -2.84 Billion lower, compared to it's long term average value.The Serie's change from it's minimum value, on 8/31/2022, to it's latest available value, on 5/31/2025, is +1.40 Billion.The Serie's change from it's maximum value, on 5/31/1990, to it's latest available value, on 5/31/2025, is -4.88 Billion.

Canada Exports to United States was US$419.75 Billion during 2024, according to the United Nations COMTRADE database on international trade. Canada Exports to United States - data, historical chart and statistics - was last updated on October of 2025.

Time series data for the statistic Trade_Balance_Canada_with_Slovak_Republic. Indicator Definition:Goods, Value of Trade Balance, US DollarsThe indicator "Goods, Value of Trade Balance, US Dollars" stands at -63.75 Million as of 5/31/2025. Regarding the One-Year-Change of the series, the current value constitutes an decrease of -5.77 Million compared to the value the year prior.The Serie's long term average value is -21.25 Million. It's latest available value, on 5/31/2025, is -42.50 Million lower, compared to it's long term average value.The Serie's change from it's minimum value, on 7/31/2023, to it's latest available value, on 5/31/2025, is +35.11 Million.The Serie's change from it's maximum value, on 3/31/1997, to it's latest available value, on 5/31/2025, is -66.47 Million.