The US trade deficit narrowed to $43.1 billion in November 2019 from a downwardly revised $46.9 billion gap in the previous month. It compares with market expectations of a $43.8 billion shortfall. The trade gap shrank for the third straight month to the lowest since October 2016. Imports slumped 1% to the lowest value in 2 years due to falling purchases of aircraft, computers and cell phones. Exports increased 0.7% to $209 billion, boosted by sales of drilling and oilfield equipment, jewellery, autos, diamonds and aircraft engines. The goods trade deficit with China narrowed 15.7% to $26.4 billion, with imports dropping 9.2% and exports jumping 13.7%. Year-to-date, the total deficit decreased $3.9 billion. The trade war with China seems to be the main cause behind the lowest trade gap. Although a lower trade deficit is likely to impact positively on GDP growth, concerns remain over the impact of falling imports in consumer spending, the largest component of GDP.

Balance of Trade in the United States averaged -15090.59 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. 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. source: Bureau of Economic Analysis (BEA)

Balance of Trade in the United States is expected to be -55000.00 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 -62000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -53000.00 USD Million in 2020, according to our econometric models.


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United States Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-43086.00 -46939.00 1946.00 -67823.00 1950 - 2019 USD Million Monthly
SA

Calendar GMT Actual Previous Consensus TEForecast
2019-10-04 12:30 PM Aug $-54.9B $-54B $-54.5B $-54.3B
2019-11-05 01:30 PM Sep $-52.5B $-55B $-52.5B $-52.0B
2019-12-05 01:30 PM Oct $-47.2B $-51.1B $-48.7B $ -48.1B
2020-01-07 01:30 PM Nov $-43.1B $-46.9B $-43.8B $ -43B
2020-02-05 01:30 PM Dec $-43.1B $ -50B


News Stream
2019-12-05
US Trade Gap Lowest in 17 Months
The US trade deficit narrowed to USD 47.2 billion in October of 2019 from a downwardly revised USD 51.1 billion in the previous month, and below market expectations of a USD 48.7 billion. It is the lowest trade gap since May of 2018. Imports slumped 1.7 percent to the lowest value in two years amid falling purchases of pharmaceutical preparations, auto parts, vehicles and cell phones Exports edged down 0.2 percent. The goods trade deficit with China narrowed 1.1 percent to USD 31.3 billion, as imports fell a meagre 0.2 percent and exports rose 3.3 percent.

2019-11-05
US Trade Gap Lowest in 5 Months
The US trade deficit narrowed to USD 52.5 billion in September of 2019 from USD 55 billion in the previous month, matching market expectations. It is the lowest trade gap since April. Imports went down 1.7 percent and exports declined 0.9 percent due to tariffs. Yet, the country recorded its first petroleum surplus since 1978. The politically sensitive goods trade deficit with China edged down 0.4 percent to USD 31.6 billion.

2019-10-04
US Trade Deficit Widens in August
The US trade deficit widened to USD 54.9 billion in August 2019 from USD 54.0 billion in the previous month and compared to market expectations of USD 54.5 billion. Exports rose 0.2 percent and imports increased at a faster 0.5 percent. The politically sensitive goods trade deficit with China decreased 3.1 percent to USD 31.8 billion in August from USD 32.8 billion in July; while that with the EU narrowed to USD 15.3 billion from a record high of USD 20.1 billion.

2019-09-04
US Trade Deficit Narrows in July
The US trade deficit narrowed slightly to USD 54.0 billion in July 2019 from a revised USD 55.5 billion in the previous month and compared to market expectations of USD 53.5 billion. Exports rose 0.6 percent while imports fell 0.1 percent.

2019-08-02
US Trade Deficit Little-Changed in June
The US trade deficit narrowed slightly to USD 55.2 billion in June 2019 from a revised USD 55.3 billion in the previous month and compared to market expectations of USD 54.6 billion. Exports dropped 2.1 percent and imports fell 1.7 percent. The politically sensitive goods trade deficit with China decreased slightly to USD 30.0 in June; while that with Mexico widened to a record high of USD 9.9 billion.

2019-07-03
US Trade Deficit Largest in 5 Months
The US trade deficit widened to USD 55.5 billion in May 2019 from a revised USD 51.2 billion in the previous month and compared to market expectations of USD 54.0 billion. The politically sensitive goods trade deficit with China increased 12.2 percent to USD 30.2 billion despite the recent increase in import tariffs on Chinese goods. Exports increased 2.0 percent to USD 210.6 billion while imports rose 3.3 percent to USD 266.2 billion.


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).

United States Trade Last Previous Highest Lowest Unit
Balance of Trade -43086.00 -46939.00 1946.00 -67823.00 USD Million [+]
Current Account -124094.00 -125210.00 9957.00 -215769.00 USD Million [+]
Current Account to GDP -2.40 -2.30 0.20 -6.00 percent [+]
Imports 251716.00 254205.00 266816.00 577.00 USD Million [+]
Exports 208630.00 207266.00 213341.00 772.00 USD Million [+]
External Debt 20421273.00 20263768.00 20421273.00 6570168.00 USD Million [+]
Terms of Trade 106.33 106.25 168.28 91.82 points [+]
Capital Flows 73136.00 -62034.00 272938.00 -194622.00 USD Million [+]
Foreign Direct Investment 50582.00 51113.00 55831.00 -9988.00 USD Million [+]
Net Long Term Tic Flows 22871.00 31484.00 157830.00 -72882.00 USD Million [+]
Gold Reserves 8133.46 8133.46 8149.05 8133.46 Tonnes [+]
Crude Oil Production 12655.00 12463.00 12655.00 3971.00 BBL/D/1K [+]
Terrorism Index 5.69 6.07 7.39 3.70 [+]
Tourism Revenues 20901.00 20837.00 21793.00 6496.00 USD Million [+]
Tourist Arrivals 6712574.00 8115682.00 8418370.00 2094287.00 [+]
Weapons Sales 10508.00 12485.00 15725.00 1742.00 USD Million [+]
Goods Trade Balance -62988.00 -66693.00 1492.20 -79790.00 USD Million [+]