The U.S. goods trade deficit with China increased by nearly ** billion U.S. dollars in 2024, as China still had the biggest impact on U.S. bilateral trade. This is according to seasonally adjusted trade date from within the United States. Following the results of the U.S. elections in 2024, discussions surfaced on the potential of tariffs for countries that have a large trade surplus with the United States. The president-elect stated that trade tariffs of ** percent and ** percent might be implemented for goods from China or Mexico, respectively. The effects of such measures on the forecast GDP growth across the world were not yet clear. In Europe, however, Germany might be the most affected economy when the U.S. does implement tariffs.

Historical chart and dataset showing U.S. trade balance by year from 1970 to 2023.

In 2023, the United States reported the highest trade balance deficit with approximately **** trillion U.S. dollars.

The average for 2023 based on 19 countries was -8.28 billion U.S. dollars. The highest value was in China: 386.06 billion U.S. dollars and the lowest value was in the USA: -784.89 billion U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

In 2023, China was the country with the highest trade surplus, with approximately ****** billion U.S. dollars. The leading trade nations Typically a trade surplus indicates a sign of economic success and a trade deficit indicates an economic weakness. However, if that were true, then the top four, China, Germany, Russia and Ireland, would be considered the best performing countries in the world. However, this would mean that the United States, Great Britain, India and France would be among the weakest nations considering that they are four countries with the highest trade deficit. In fact, they are leading industrial nations. While China is known for producing and exporting products at a competitive price, it has undervalued its exchange rate in order to promote exports. However, China is now working to reduce its reliance on exports even though they continue to export large and increasing quantities of goods. In the case of Germany, the value of the euro may not be high enough, however growth concerning the value of exports has slowed over the past few years. In contrast, the value of the dollar in the United States may be too high, favoring imports as opposed to exports.

China trade balance for 2023 was 386.04 billion US dollars, a 33.19% decline from 2022.

<ul style='margin-top:20px;'>

<li>China trade balance for 2022 was <strong>577.85 billion US dollars</strong>, a <strong>25.39% increase</strong> from 2021.</li>
<li>China trade balance for 2021 was <strong>460.83 billion US dollars</strong>, a <strong>29.76% increase</strong> from 2020.</li>
<li>China trade balance for 2020 was <strong>355.15 billion US dollars</strong>, a <strong>167.45% increase</strong> from 2019.</li>
</ul>External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.

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

International merchandise trade data grouped by Principal Trading Partners (PTP). Users have the option of selecting Imports, Exports, or Trade Balance. Data are unadjusted and seasonally adjusted, and are on a Customs and Balance of Payments basis.

The statistic shows the trade balance of goods (exports minus imports of goods) in the Caucasus countries in Asia from 2013 to 2023. Caucasus stands for the mountain range between the Black Sea and the Caspian Sea, encompassing areas in Armenia, Azerbaijan, Georgia, and Russia. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2023, the trade deficit of goods in Armenia amounted to about 3.89 billion U.S. dollars.

The United Kingdom recorded a trade deficit of 7026 GBP Million in April of 2025. This dataset provides - United Kingdom Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the trade balance of goods (exports minus imports of goods) in the MENA countries in North Africa and Asia in 2024. A positive value means a trade surplus, and a negative trade balance means a trade deficit. Saudi Arabia had the largest trade surplus. In 2024, the trade surplus of goods in the country amounted to about ***** billion U.S. dollars. On the other hand, Egypt has the largest trade deficit.

Egypt EG: Trade Balance: Countries or Area Not Specified data was reported at -1.070 USD bn in Mar 2018. This records a decrease from the previous number of -609.700 USD mn for Dec 2017. Egypt EG: Trade Balance: Countries or Area Not Specified data is updated quarterly, averaging -1.384 USD mn from Dec 1961 (Median) to Mar 2018, with 169 observations. The data reached an all-time high of 166.970 USD mn in Jun 2009 and a record low of -1.275 USD bn in Mar 2017. Egypt EG: Trade Balance: Countries or Area Not Specified data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Egypt – Table EG.IMF.DOT: Trade Balance: by Country: Quarterly.

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.

China recorded a trade surplus of 103.22 USD Billion in May of 2025. This dataset provides - China Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data was reported at -91.089 USD bn in Mar 2018. This records an increase from the previous number of -101.468 USD bn for Dec 2017. US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data is updated quarterly, averaging -7.849 USD bn from Sep 1971 (Median) to Mar 2018, with 187 observations. The data reached an all-time high of 835.500 USD mn in Dec 1980 and a record low of -103.088 USD bn in Sep 2017. US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Mainland data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s USA – Table US.IMF.DOT: Trade Balance: by Country: Quarterly.

Turkey recorded a trade deficit of 6645.16 USD Million in May of 2025. This dataset provides the latest reported value for - Turkey Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Germany recorded a trade surplus of 14.60 EUR Billion in April of 2025. This dataset provides - Germany Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Papua New Guinea data was reported at 3.917 USD mn in Mar 2018. This records an increase from the previous number of 0.460 USD mn for Dec 2017. US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Papua New Guinea data is updated quarterly, averaging -1.000 USD mn from Sep 1962 (Median) to Mar 2018, with 217 observations. The data reached an all-time high of 137.224 USD mn in Mar 2012 and a record low of -65.600 USD mn in Sep 1993. US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: Papua New Guinea data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s USA – Table US.IMF.DOT: Trade Balance: by Country: Quarterly.

US: Trade Balance: Advanced Economies: Israel data was reported at -1.817 USD bn in Mar 2018. This records an increase from the previous number of -1.925 USD bn for Dec 2017. US: Trade Balance: Advanced Economies: Israel data is updated quarterly, averaging 14.000 USD mn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 420.600 USD mn in Dec 1980 and a record low of -3.165 USD bn in Mar 2015. US: Trade Balance: Advanced Economies: Israel data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s USA – Table US.IMF.DOT: Trade Balance: by Country: Quarterly.

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