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.

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.

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.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for United States (XTNTVA01USM667S) from Jan 1955 to Apr 2025 about trade, Net, goods, and USA.

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.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for United States (XTNTVA01USQ664S) from Q1 1955 to Q1 2025 about trade, Net, goods, and USA.

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

Graph and download economic data for Total Current Account Balance for the United States (DISCONTINUED) (BPBLTT01USQ188S) from Q1 1960 to Q4 2013 about current account, BOP, and USA.

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.

Colombia CO: Trade Balance: Advanced Economies: United States data was reported at -1.477 USD bn in 2017. This records an increase from the previous number of -1.594 USD bn for 2016. Colombia CO: Trade Balance: Advanced Economies: United States data is updated yearly, averaging 7.450 USD mn from Dec 1948 (Median) to 2017, with 70 observations. The data reached an all-time high of 8.225 USD bn in 2011 and a record low of -5.772 USD bn in 2015. Colombia CO: Trade Balance: Advanced Economies: United States data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Colombia – Table CO.IMF.DOT: Trade Balance: by Country: Annual.

Graph and download economic data for Current Account Balance: Total Trade of Goods for the United States (DISCONTINUED) (BPBLTD01USA636S) from 1960 to 2013 about current account, BOP, trade, goods, and USA.

Colombia CO: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: American Samoa data was reported at -0.251 USD mn in May 2018. This records an increase from the previous number of -0.709 USD mn for Apr 2018. Colombia CO: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: American Samoa data is updated monthly, averaging -0.000 USD mn from Jan 1993 (Median) to May 2018, with 182 observations. The data reached an all-time high of 0.888 USD mn in Dec 2009 and a record low of -3.364 USD mn in Jul 2014. Colombia CO: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: American Samoa data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Colombia – Table CO.IMF.DOT: Trade Balance: by Country: Monthly.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Japan (XTNTVA01JPQ667S) from Q1 1957 to Q1 2025 about Japan, trade, Net, and goods.

Subscribers can find out export and import data of 23 countries by HS code or product’s name. This demo is helpful for market analysis.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Mexico (XTNTVA01MXA667S) from 1980 to 2024 about Mexico, trade, Net, and goods.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Japan (XTNTVA01JPA667S) from 1957 to 2024 about Japan, trade, Net, and goods.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Canada (XTNTVA01CAM667S) from Jan 1957 to Apr 2025 about Canada, 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.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Indonesia (XTNTVA01IDQ667N) from Q1 1990 to Q1 2025 about Indonesia, trade, Net, and goods.

Graph and download economic data for Current Account Balance: Total Trade of Goods for Germany (DISCONTINUED) (BPBLTD01DEQ637S) from Q1 1971 to Q1 2014 about current account, BOP, Germany, trade, and goods.