The US trade deficit widened to USD 50.0 billion in March 2019 from an eight-month low of USD 49.3 billion in the previous month and compared to market expectations of USD 50.2 billion. The politically sensitive goods trade deficit with China decreased to a five-year low. Balance of Trade in the United States averaged -14734.13 USD Million from 1950 until 2019, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -67823 USD Million in August of 2006.

Balance of Trade in the United States is expected to be -49000.00 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 -55000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -63000.00 USD Million in 2020, according to our econometric models.

United States Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-06 01:30 PM Balance of Trade $-59.8B $-50.3B $-57.9B $-56B
2019-03-27 12:30 PM Balance of Trade $-51.1B $-59.9B $-57B $-59B
2019-04-17 12:30 PM Balance of Trade $-49.4B $-51.1B $-53.5B $-52.8B
2019-05-09 12:30 PM Balance of Trade $-50B $-49.3B $-50.2B $ -50.1B
2019-06-06 12:30 PM Balance of Trade $-50B
2019-07-03 12:30 PM Balance of Trade
2019-08-02 12:30 PM Balance of Trade $ -49B



US Trade Surplus Widens in March

The US trade deficit widened to USD 50.0 billion in March 2019 from an eight-month low of USD 49.3 billion in the previous month and compared to market expectations of USD 50.2 billion.

Exports from the US rose USD 2.1 billion from the previous month to USD 212.0 billion in March. Goods exports increased USD 2.0 billion to USD 141.7 billion, boosted by sales of industrial supplies and materials (up USD 1.7 billion), such as natural gas liquids, fuel oil, metallurgical grade coal, and other petroleum products. In addition, exports of foods, feeds, and beverages were up USD 0.8 billion, led by soybeans. By contrast, sales of civilian aircraft dropped USD 0.7 billion. Exports of services, including maintenance and repair services, and financial services, increased less than USD 0.1 billion to USD 70.3 billion in March.

On a non seasonally adjusted basis, goods exports rose to all major trade partners: China (23.6 percent); Japan (18.3 percent); Canada (13.3 percent); the EU (7.2 percent); Mexico (8.0 percent), Brazil (22.9 percent) and OPEC (25.3 percent).

Imports to the US increased USD 2.8 billion to USD 262.0 billion. Goods imports advanced USD 2.6 billion to USD 214.1 billion, led by industrial supplies and materials (up USD 2.4 billion), in particular crude oil, organic chemicals and other petroleum products. Also, food imports rose USD 1.0 billion to the highest on record. Consumer goods imports, however, fell USD 0.7 billion amid declines in purchases of cellphones and other household goods. Imports of services, including travel and maintenance and repair services, increased USD 0.2 billion to USD 47.8 billion in March.

On a non seasonally adjusted basis, goods imports rose from the EU (18.8 percent), Canada (19.2 percent), Japan (14.6 percent), Mexico (13.5 percent), Brazil (16.4 percent) and OPEC (8.2 percent). Imports from China slumped 6.1 percent.

The politically sensitive goods trade deficit with China decreased to a five-year low of USD 20.7 billion in March from USD 24.8 billion in February. On the other hand, the trade deficit widened with the EU (USD 14.2 billion from USD 9.2 billion); Mexico (USD 9.5 billion from USD 7.4 billion); Canada (USD 1.4 billion from a surplus of USD 17 million); and Japan (USD 6.6 billion from USD 5.9 billion). Meanwhile, the trade surplus with OPEC increased to USD 1.1 billion from USD 0.4 billion in February.


US Census Bureau | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/9/2019 1:02:47 PM



United States Trade Last Previous Highest Lowest Unit
Balance of Trade -50000.00 -49300.00 1946.00 -67823.00 USD Million [+]
Current Account -134377.00 -126604.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.40 -2.30 0.20 -6.00 percent [+]
Imports 261968.00 259190.00 267232.00 577.00 USD Million [+]
Exports 211966.00 209905.00 212855.00 772.00 USD Million [+]
External Debt 19765887.00 19556588.00 19765887.00 6570168.00 USD Million [+]
Terms of Trade 105.85 106.43 168.28 91.82 Index Points [+]
Capital Flows -8061.00 -21481.00 272938.00 -194622.00 USD Million [+]
Foreign Direct Investment 50955.00 51938.00 51938.00 -9988.00 USD Million [+]
Net Long Term Tic Flows -28403.00 51884.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.50 8133.46 8149.05 8133.46 Tonnes [+]
Crude Oil Production 11683.00 11871.00 11900.00 3971.00 BBL/D/1K [+]
Terrorism Index 6.07 5.43 7.39 3.70 [+]
Tourism Revenues 21490.00 21399.00 21490.00 6496.00 USD Million [+]
Tourist Arrivals 6079693.00 6772971.00 8364941.00 2094287.00 [+]
Weapons Sales 12394.00 10304.00 16071.00 1769.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



United States Balance of Trade

The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. In 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. China is the top trading partner, accounting for 16 percent of total trade, followed by Canada (15 percent) and Mexico (15 percent). 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 - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-50000.00 -49300.00 1946.00 -67823.00 1950 - 2019 USD Million Monthly
SA




Country Last Previous
Argentina 1183.00 Mar/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.39 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 60.40 Apr/19
Mexico 1429.00 Mar/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2352600.00 Mar/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19


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