U.S. trade balance for 2023 was -797.34 billion US dollars, a 16.85% decline from 2022.

<ul style='margin-top:20px;'>

<li>U.S. trade balance for 2022 was <strong>-958.94 billion US dollars</strong>, a <strong>11.5% increase</strong> from 2021.</li>
<li>U.S. trade balance for 2021 was <strong>-860.03 billion US dollars</strong>, a <strong>37.34% increase</strong> from 2020.</li>
<li>U.S. trade balance for 2020 was <strong>-626.20 billion US dollars</strong>, a <strong>8.47% 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.

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

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.

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 295.4 billion U.S. dollars.

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.

The U.S. goods trade deficit with China increased by nearly 20 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 60 percent and 25 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.

Japan trade balance for 2022 was -160.05 billion US dollars, a 510.73% increase from 2021.

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<li>Japan trade balance for 2021 was <strong>-26.21 billion US dollars</strong>, a <strong>92.87% increase</strong> from 2020.</li>
<li>Japan trade balance for 2020 was <strong>-13.59 billion US dollars</strong>, a <strong>8.25% decline</strong> from 2019.</li>
<li>Japan trade balance for 2019 was <strong>-14.81 billion US dollars</strong>, a <strong>1571.95% decline</strong> from 2018.</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.

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)

This data package includes the underlying data and files to replicate the calculations, charts, and tables presented in Taming the US trade deficit: A dollar policy for balanced growth, PIIE Policy Brief 20-15.

If you use the data, please cite as: Gagnon, Joseph E. (2020). Taming the US trade deficit: A dollar policy for balanced growth. PIIE Policy Brief 20-15. Peterson Institute for International Economics.

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.

Colombia recorded a trade deficit of 1.21 USD Billion in March of 2025. This dataset provides - Colombia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

France trade balance for 2023 was -67.23 billion US dollars, a 37.6% decline from 2022.

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<li>France trade balance for 2022 was <strong>-107.75 billion US dollars</strong>, a <strong>93.43% increase</strong> from 2021.</li>
<li>France trade balance for 2021 was <strong>-55.70 billion US dollars</strong>, a <strong>1.06% decline</strong> from 2020.</li>
<li>France trade balance for 2020 was <strong>-56.30 billion US dollars</strong>, a <strong>115.51% 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.

This data package includes the underlying data files to replicate the data and charts presented in Misconceptions about US trade deficits muddy the economic policy debate by Maurice Obstfeld, PIIE Policy Brief 24-7.

If you use the data, please cite as: Obstfeld, Maurice. 2024. Misconceptions about US trade deficits muddy the economic policy debate. PIIE Policy Brief 24-7. Washington, DC: Peterson Institute for International Economics.

Japan recorded a trade deficit of 115.85 JPY Billion in April of 2025. This dataset provides - Japan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United Kingdom recorded a trade deficit of 3696 GBP Million in March of 2025. This dataset provides - United Kingdom Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States Trade Balance: Peru data was reported at 49.000 USD mn in Sep 2018. This records a decrease from the previous number of 141.000 USD mn for Aug 2018. United States Trade Balance: Peru data is updated monthly, averaging 10.900 USD mn from Jan 1985 (Median) to Sep 2018, with 405 observations. The data reached an all-time high of 464.400 USD mn in Aug 2014 and a record low of -368.300 USD mn in Nov 2005. United States Trade Balance: Peru 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.

Turkey recorded a trade deficit of 6500 USD Million in May of 2025. This dataset provides the latest reported value for - Turkey 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 International Merchandise Trade Statistics: Trade Balance: Commodities for Japan (XTNTVA01JPQ664S) from Q1 1955 to Q1 2025 about Japan, trade, Net, and goods.

US: Trade Balance: Emerging and Developing Economies data was reported at -141.486 USD bn in Mar 2018. This records an increase from the previous number of -146.588 USD bn for Dec 2017. US: Trade Balance: Emerging and Developing Economies data is updated quarterly, averaging -8.360 USD bn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 930.800 USD mn in Jun 1982 and a record low of -179.987 USD bn in Sep 2008. 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: Quarterly.