The US trade deficit narrowed to USD 66.6 billion in December of 2020 from a revised USD 69 billion in the previous month and compared to market expectations of USD 65.7 billion. Exports increased 3.4 percent to USD 190 billion, while imports rose 1.5 percent to USD 256.6 billion, both reflecting the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year. In 2020, the trade gap increased by 17.7 percent to USD 101.9 billion, as exports dropped 15.7 percent to USD 2,131.9 and imports fell 9.5 percent to USD 2,810.6. As a percentage of the US GDP, the goods and services deficit were 3.2 percent in 2020, up from 2.7 percent in 2019. source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -15544.46 USD Million from 1950 until 2020, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -69005 USD Million in November of 2020. This page 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. United States Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Balance of Trade in the United States is expected to be -47000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in the United States to stand at -63000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -53000.00 USD Million in 2022, according to our econometric models.