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.

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.

Graph and download economic data for Trade Balance: Goods and Services, Balance of Payments Basis (BOPGSTB) from Jan 1992 to Jul 2025 about BOP, balance, headline figure, trade, goods, services, and USA.

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.

View monthly updates and historical trends for US Trade Deficit. from United States. Source: Bureau of Economic Analysis. Track economic data with YCharts…

The USA: Trade balance as percent of GDP: The latest value from 2024 is -3.09 percent, a decline from -2.88 percent in 2023. In comparison, the world average is -3.07 percent, based on data from 134 countries. Historically, the average for the USA from 1960 to 2024 is -1.81 percent. The minimum value, -5.69 percent, was reached in 2006 while the maximum of 1.01 percent was recorded in 1964.

Graph and download economic data for Shares of gross domestic product: Net exports of goods and services (A019RE1A156NBEA) from 1929 to 2024 about Shares of GDP, exports, Net, goods, services, GDP, and USA.

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.

The United States recorded a Current Account deficit of 3.90 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Goods Trade Balance in the United States decreased to -103566 USD Million in July from -84854 USD Million in June of 2025. This dataset provides - United States Goods Trade Balance- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the United States reported the highest trade balance deficit with approximately **** trillion U.S. dollars.

The balance of trade of goods and services of the United States in the third quarter of 2024 amounted to a deficit of around 250.03 billion U.S. dollars. This is an increase from the previous quarter, when the balance of goods and services of the U.S. amounted to a deficit of 236.34 billion U.S. dollars.

Colombia Trade Balance: Country: United States data was reported at -1.190 USD bn in 2024. This records an increase from the previous number of -2.109 USD bn for 2023. Colombia Trade Balance: Country: United States data is updated yearly, averaging 496.264 USD mn from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 8.991 USD bn in 2011 and a record low of -4.774 USD bn in 2015. Colombia Trade Balance: Country: United States data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.JA002: Trade Balance: Annual.

The average for 2024 based on 134 countries was -3.07 percent. The highest value was in Macao: 44.38 percent and the lowest value was in Kiribati: -88.61 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

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.

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.

China recorded a trade surplus of 102.33 USD Billion in August of 2025. This dataset provides - China Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States US: Aerospace Industry: Trade Balance data was reported at 48.890 USD bn in 2021. This records an increase from the previous number of 37.029 USD bn for 2020. United States US: Aerospace Industry: Trade Balance data is updated yearly, averaging 39.437 USD bn from Dec 1990 (Median) to 2021, with 32 observations. The data reached an all-time high of 86.993 USD bn in 2016 and a record low of 20.681 USD bn in 1995. United States US: Aerospace Industry: Trade Balance 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 United States – Table US.OECD.MSTI: Trade Statistics: OECD Member: Annual.

For the United States, from 2021 onwards, changes to the US BERD survey questionnaire allowed for more exhaustive identification of acquisition costs for ‘identifiable intangible assets’ used for R&D. This has resulted in a substantial increase in reported R&D capital expenditure within BERD. In the business sector, the funds from the rest of the world previously included in the business-financed BERD, are available separately from 2008. From 2006 onwards, GOVERD includes state government intramural performance (most of which being financed by the federal government and state government own funds). From 2016 onwards, PNPERD data are based on a new R&D performer survey. In the higher education sector all fields of SSH are included from 2003 onwards.

Following a survey of federally-funded research and development centers (FFRDCs) in 2005, it was concluded that FFRDC R&D belongs in the government sector - rather than the sector of the FFRDC administrator, as had been reported in the past. R&D expenditures by FFRDCs were reclassified from the other three R&D performing sectors to the Government sector; previously published data were revised accordingly. Between 2003 and 2004, the method used to classify data by industry has been revised. This particularly affects the ISIC category “wholesale trade” and consequently the BERD for total services.

U.S. R&D data are generally comparable, but there are some areas of underestimation:

1. i) Up to 2008, Government sector R&D performance covers only federal government activities. That by State and local government establishments is excluded;
2. ii) Except for the Government and the Business Enterprise sectors, the R&D data exclude most capital expenditures. For the Business Enterprise sector, depreciation is reported in place of gross capital expenditures up to 2014. Higher education (and national total) data were revised back to 1998 due to an improved methodology that corrects for double-counting of R&D funds passed between institutions.

Breakdown by type of R&D (basic research, applied research, etc.) was also revised back to 1998 in the business enterprise and higher education sectors due to improved estimation procedures.

The methodology for estimating researchers was changed as of 1985. In the Government, Higher Education and PNP sectors the data since then refer to employed doctoral scientists and engineers who report their primary work activity as research, development or the management of R&D, plus, for the Higher Education sector, the number of full-time equivalent graduate students with research assistantships averaging an estimated 50 % of their time engaged in R&D activities. As of 1985 researchers in the Government sector exclude military personnel. As of 1987, Higher education R&D personnel also include those who report their primary work activity as design.

Due to lack of official data for the different employment sectors, the total researchers figure is an OECD estimate up to 2019. Comprehensive reporting of R&D personnel statistics by the United States has resumed with records available since 2020, reflecting the addition of official figures for the number of researchers and total R&D personnel for the higher education sector and the Private non-profit sector; as well as the number of researchers for the government sector. The new data revise downwards previous OECD estimates as the OECD extrapolation methods drawing on historical US data, required to produce a consistent OECD aggregate, appear to have previously overestimated the growth in the number of researchers in the higher education sector.

Pre-production development is excluded from Defence GBARD (in accordance with the Frascati Manual) as of 2000. 2009 GBARD data also includes the one time incremental R&D funding legislated in the American Recovery and Reinvestment Act of 2009. Beginning with the 2000 GBARD data, budgets for capital expenditure – “R&D plant” in national terminology - are included. GBARD data for earlier years relate to budgets for current costs only.

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 average for 2024 based on 17 countries was -4.18 percent. The highest value was in Puerto Rico: 9.11 percent and the lowest value was in Honduras: -24.01 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.