United States Balance of Trade

Last Release

Jan 31, 2025

Actual

-131.38

Units In

USD Million

-98.43

Frequency

Monthly

Next Release

Apr 03, 2025

Time to Release

26 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
1,946 Jun 1975	-109,802 Mar 2022	-16,718.29 USD Million	1950-2025	U.S. Census Bureau

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).

Latest Updates

The US posted a record trade deficit of $131.4 billion in January 2025, up from a downwardly revised $98.1 billion shortfall in December 2024 and exceeding forecasts of a $127.4 billion gap. Imports surged 10% to an all-time high of $401.2 billion, driven by anticipation of upcoming tariffs. Increases were mostly seen in imports of finished metal shapes ($20.5 billion), pharmaceutical preparations ($5.2 billion), and computers ($3 billion). Exports rose at a slower 1.2% to $269.8 billion, led by civilian aircraft ($1.1 billion) and pharmaceutical preparations ($0.8 billion). On the other hand, sales decreased for soybeans ($-0.8 billion). The US goods trade gap widened with China ($-29.7 billion vs $-25.3 billion in December 2024), the EU ($-25.5 billion vs $-20.4 billion), Switzerland ($-22.8 billion vs $-13 billion), Mexico ($-15.5 billion vs $-15.3 billion), Vietnam ($-11.9 billion vs $-11.4 billion) and Canada ($-11.3 billion vs $-7.9 billion).