This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around ***** billion U.S. dollars.

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.

In 2024, China's merchandise trade surplus amounted to around 992.2 billion U.S. dollars, significantly higher than in the previous year. The merchandise trade balance is the value of exported goods minus the value of imported goods. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. Trade balance and partnersIn 2024, Chinese imports of goods amounted to approximately 2.59 trillion U.S. dollars, whereas total exports added up to about 3.58 trillion U.S. dollars. In contrast, China’s invisible trade balance, an indicator measuring services and government transfers between countries, closed with a deficit and ranged at about -92 billion U.S. dollars at the end of 2022. Being an economy heavily reliant on export, China ranked first among countries with the highest trade surplus, followed by Germany and Russia. The United States, with imports exceeding exports by approximately 1.15 trillion U.S. dollars that year, ranked first among leading import countries worldwide. In 2023, the value of the U.S. imports from China exceeded the exports to China by around 279.4 billion U.S. dollars. Another important trade partner for China is the European Union. In 2023, the EU imported around 514 billion euro-worth of goods from China, leading to a trade deficit of around 291 billion euros. Product categories with the highest trade deficit were mostly finished goods such as machinery and transport equipment, clothing, and other manufactures, whereas product categories with a more balanced trade sheet consisted of raw materials and agricultural products to a large extent.

The United States recorded a trade deficit of 71.52 USD Billion in May 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.

In 2024, the total value of the U.S. trade in goods with China amounted to around *** billion U.S. dollars composed of a ****** billion U.S. dollars export value and a ****** billion U.S. dollars import value. This represented a negative trade balance of ***** billion U.S. dollars.

China recorded a trade surplus of 114.77 USD Billion in June of 2025. This dataset provides - China Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In May 2025, the trade surplus in China amounted to approximately ***** billion U.S. dollars. A positive value implies a trade surplus, a negative trade balance implies a trade deficit. International trade in China China surpassed the United States as the worlds’ largest goods trading economy in 2013. Despite the impacts of the global coronavirus pandemic, the total value of China’s imports and exports amounted to more than *** trillion U.S. dollars in 2024.China has become a vital trade partner for many economies. In 2024, over *** billion U.S. dollars worth of the United States’ imports originated in China, making China its second-largest import partner. A trade surplus occurs when exports of a country exceed its imports. It leads to a net inflow of domestic currency from foreign countries. The trade balance is a major growth factor for an economy. Because of running a large trade surplus, China holds a vast amount of foreign exchange reserves. Foreign exchange reserves may be viewed as a sign of national strength, but also represent a form of forced savings on the people. China was the country with the highest trade surplus of approximately ****** billion U.S. dollars as of 2023.

In 2024, China's service trade deficit (also called invisible trade deficit) reached around 164.7 billion U.S. dollars. The invisible trade balance includes sales and purchases of services such as transportation services, insurance services, consulting services, and tourism. A negative trade balance value indicates that imports exceeded exports that year.

Key information about China's Trade Balance

• China's Trade Balance recorded a surplus of 104.8 USD bn in Dec 2024, compared with a surplus of 97.3 USD bn in the previous month
• China's Trade Balance data is updated monthly, available from Jan 1992 to Dec 2024, with an averaged value of 12.8 USD bn
• The data reached an all-time high of 104.8 USD bn in Dec 2024 and a record low of -62.0 USD bn in Feb 2020

• In the latest reports, China's Total Exports reached 335.6 USD bn in Dec 2024, an increase of 20.8% YoY (year-on-year)
• Total Imports recorded 230.8 USD bn in Dec 2024, an increase of 20.8% YoY (year-on-year)

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.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for China (XTNTVA01CNM667N) from Jan 1992 to May 2025 about China, trade, Net, and goods.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for China (XTNTVA01CNQ667N) from Q1 1992 to Q1 2025 about China, trade, Net, and goods.

In 2024, China's balance of trade in agricultural products indicated a trade deficit of approximately 112.15 billion U.S. dollars. The trade deficit has increased considerably over the last two decades.

China's total Exports in 2024 were valued at US$3.58 Trillion, according to the United Nations COMTRADE database on international trade. China's main export partners were: the United States, Hong Kong and Vietnam. The top three export commodities were: Electrical, electronic equipment; Machinery, nuclear reactors, boilers and Vehicles other than railway, tramway. Total Imports were valued at US$2.59 Trillion. In 2024, China had a trade surplus of US$991.41 Billion.

The average for 2023 based on 148 countries was 4.81 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.

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.

Hong Kong SAR (China) HK: Trade Balance: Services: United States data was reported at 66,201.000 HKD mn in 2021. This records an increase from the previous number of 42,604.000 HKD mn for 2020. Hong Kong SAR (China) HK: Trade Balance: Services: United States data is updated yearly, averaging 50,130.000 HKD mn from Dec 2005 (Median) to 2021, with 17 observations. The data reached an all-time high of 66,201.000 HKD mn in 2021 and a record low of 31,501.000 HKD mn in 2005. Hong Kong SAR (China) HK: Trade Balance: Services: United States data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.OECD.TISP: Trade in Services: Trade Balance: by Country: Non OECD Member: Annual.

India recorded a trade deficit of 18.78 USD Billion in June of 2025. This dataset provides the latest reported value for - India Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

US: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data was reported at 2.274 USD bn in May 2018. This records an increase from the previous number of 1.855 USD bn for Apr 2018. US: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data is updated monthly, averaging -9.000 USD mn from Feb 1960 (Median) to May 2018, with 698 observations. The data reached an all-time high of 4.198 USD bn in Sep 2011 and a record low of -822.900 USD mn in Nov 1986. US: Trade Balance: Advanced Economies: China, People Republic: Hong Kong 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: Monthly.

In 2024, Chinese exports of trade goods to the United States amounted to about 438.95 billion U.S. dollars; a significant increase from 1985 levels, when imports from China amounted to about 3.86 billion U.S. dollars. U.S. exports to China Compared to U.S. imports from China, the value of U.S. exports to China in 2020 amounted to 427.23billion U.S. dollars. China is the United States’ largest trading partner, while China was the United States third largest goods export market. Some of the leading exports to China in the agricultural sector included soybeans, cotton, and pork products. Texas was the leading state that exported to China in 2020 based on total value of goods exports, at 16.9 billion U.S. dollars. U.S. - China trade war The trade war between the United States and China is an economic conflict between two of the world’s largest national economies. It started in 2018 when U.S. President Donald Trump started putting tariffs and trade barriers on China, with the intent to get China to conform to Trump’s wishes. President Trump claimed that China has unfair trade businesses. As a result of this trade war, it has caused a lot of tension between the U.S. and China. Nearly half of American companies impacted by the U.S.-China trade tariffs said that the trade war increased their cost of manufacturing. The healthcare product industry has suffered the most from the trade war in regards to reduced profits.