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

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 timeline shows the total value of the United States' trade balance from January 2015 to April 2023. In that month, the United States had a trade deficit of about 74.5 billion U.S. dollars.

As of 2024, the United States had a trade deficit of about 918 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.

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 timeline shows the value of the United States' trade balance of goods and services from January 2015 to April 2024. In that month, the United States had a surplus of about 24.6 billion U.S. dollars in services trade, but a deficit of about 99 billion U.S. dollars in goods trade.

In December 2024, the trade surplus in China amounted to approximately 104.84 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 6.1 trillion U.S. dollars in 2024.China has become a vital trade partner for many economies. In 2023, over 427 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 823.22 billion U.S. dollars as of 2023.

This timeline depicts the total imports and exports of goods of the United States from January 2017 to September 2022. In September 2022, the total value of imports of the United States amounted to approximately 275.41 billion U.S. dollars; its exports valued around 176 billion U.S. dollars that month.

United States US: Trade Balance: Advanced Economies: Korea data was reported at -1.803 USD bn in May 2018. This records a decrease from the previous number of -1.617 USD bn for Apr 2018. United States US: Trade Balance: Advanced Economies: Korea data is updated monthly, averaging -267.300 USD mn from Feb 1960 (Median) to May 2018, with 698 observations. The data reached an all-time high of 626.400 USD mn in Mar 1997 and a record low of -3.283 USD bn in Apr 2016. United States US: Trade Balance: Advanced Economies: Korea 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.

United States Trade Balance: BoP: sa: Goods Non Petroleum data was reported at -60.143 USD bn in May 2018. This records an increase from the previous number of -62.520 USD bn for Apr 2018. United States Trade Balance: BoP: sa: Goods Non Petroleum data is updated monthly, averaging -32.948 USD bn from Jan 1992 (Median) to May 2018, with 317 observations. The data reached an all-time high of -863.900 USD mn in Feb 1992 and a record low of -69.268 USD bn in Feb 2018. United States Trade Balance: BoP: sa: Goods Non Petroleum data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.JA002: Trade Statistics: BoP Basis: Seasonally Adjusted.

In November 2024, the value of U.S. merchandise imports from Russia exceeded the exports to the country by around 89 million U.S. dollars. To compare, in the previous month, the negative trade balance was measured at approximately 262 million U.S. dollars. Exports of goods from the U.S. to Russia sharply decreased in March 2022 due to the trade sanctions imposed on Russia over its invasion of Ukraine. In total, over the course of 2023, the U.S. exported goods worth around 600 billion U.S. dollars to Russia.

United States Trade Balance: India: sa data was reported at -1.908 USD bn in May 2018. This records an increase from the previous number of -2.040 USD bn for Apr 2018. United States Trade Balance: India: sa data is updated monthly, averaging -1.743 USD bn from Jan 2009 (Median) to May 2018, with 113 observations. The data reached an all-time high of -22.000 USD mn in Aug 2009 and a record low of -2.656 USD bn in Apr 2014. United States Trade Balance: India: sa data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.JA010: Trade Statistics: Census Basis: By Country: Trade Balance.

Graph and download economic data for Advance U.S. International Trade in Goods: Balance (AITGCBS) from Jan 2025 to Jan 2025 about balance, trade, goods, and USA.

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

United States US: Trade Balance: Advanced Economies: Switzerland data was reported at -1.685 USD bn in May 2018. This records an increase from the previous number of -2.358 USD bn for Apr 2018. United States US: Trade Balance: Advanced Economies: Switzerland data is updated monthly, averaging -3.000 USD mn from Feb 1960 (Median) to May 2018, with 698 observations. The data reached an all-time high of 1.470 USD bn in Apr 2013 and a record low of -2.358 USD bn in Apr 2018. United States 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: Monthly.

United States US: Trade Balance: Emerging and Developing Economies data was reported at -50.195 USD bn in May 2018. This records a decrease from the previous number of -44.533 USD bn for Apr 2018. United States US: Trade Balance: Emerging and Developing Economies data is updated monthly, averaging -3.092 USD bn from Feb 1960 (Median) to May 2018, with 698 observations. The data reached an all-time high of 702.600 USD mn in Apr 1982 and a record low of -65.197 USD bn in Jul 2008. United States US: Trade Balance: Emerging and Developing Economies 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.

United States US: Trade Balance: Advanced Economies: Denmark data was reported at -623.722 USD mn in May 2018. This records a decrease from the previous number of -462.211 USD mn for Apr 2018. United States US: Trade Balance: Advanced Economies: Denmark data is updated monthly, averaging -44.150 USD mn from Feb 1960 (Median) to May 2018, with 698 observations. The data reached an all-time high of 66.000 USD mn in Mar 1992 and a record low of -658.848 USD mn in Mar 2015. United States US: Trade Balance: Advanced Economies: Denmark 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.

China recorded a trade surplus of 104.84 USD Billion in December of 2024. This dataset provides - China Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States US: Trade Balance: European Union data was reported at -13.342 USD bn in May 2018. This records an increase from the previous number of -14.592 USD bn for Apr 2018. United States US: Trade Balance: European Union data is updated monthly, averaging -750.356 USD mn from Jan 1960 (Median) to May 2018, with 701 observations. The data reached an all-time high of 2.568 USD bn in Mar 1991 and a record low of -15.759 USD bn in Dec 2017. United States US: Trade Balance: European Union 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.

The European Union has had a growing trade balance with the United States since the turn of the millennium. While in 1999, the EU recorded a monthly trade balance with the U.S. as low as 200 million euros a month, the monthly trade balance in the most recent period recorded was over 12 billion euros. Both exports and imports have increased over this period, with a particularly notable uptick following the coronavirus pandemic.