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 60.18 USD Billion in June 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 Jun 2025 about balance, headline figure, BOP, trade, goods, services, and USA.

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

Key information about US's Trade Balance

• US's Trade Balance recorded a deficit of 155.6 USD bn in Jan 2025, compared with a deficit of 122.1 USD bn in the previous month
• US's Trade Balance data is updated monthly, available from Jan 1986 to Jan 2025, with an averaged value of -51.2 USD bn
• The data reached an all-time high of -3.7 USD bn in Feb 1992 and a record low of -155.6 USD bn in Jan 2025

• In the latest reports, US's Total Exports reached 171.6 USD bn in Jan 2025, a decrease of 26.1% YoY (year-on-year)
• Total Imports recorded 327.1 USD bn in Jan 2025, an increase of 26.1% YoY (year-on-year)

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 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.

US: Trade Balance: Advanced Economies: Switzerland data was reported at -3.468 USD bn in Mar 2018. This records an increase from the previous number of -4.050 USD bn for Dec 2017. US: Trade Balance: Advanced Economies: Switzerland data is updated quarterly, averaging 6.000 USD mn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 2.309 USD bn in Mar 2008 and a record low of -4.617 USD bn in Jun 2016. US: Trade Balance: Advanced Economies: Switzerland 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.

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.

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.

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

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.

US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia data was reported at -123.158 USD bn in Mar 2018. This records an increase from the previous number of -135.467 USD bn for Dec 2017. US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia data is updated quarterly, averaging -3.365 USD bn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 351.000 USD mn in Jun 1966 and a record low of -137.186 USD bn in Sep 2017. US: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia 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.

China recorded a trade surplus of 98.24 USD Billion in July of 2025. This dataset provides - China Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

This graph shows the deficit distribution of the United States in international trade in 2016, by country. In 2016, ***** percent of the deficits of the United States in international trade resulted from the trade with China, making China the main source of the US trade deficit.

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.

The statistic shows the trade balance of services (exports minus imports of services) in the United States from 2014 to 2024. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2024, the trade surplus of services in the United States amounted to about ****** billion 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.

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.