The trade deficit in the US widened to $78.2 billion in November 2024 compared to a revised $73.6 billion gap in October and roughly in line with forecasts. Imports rose 3.4% to $351.6 billion, the biggest gain since March 2022, led by purchases of foods, feeds, and beverages, semiconductors, passenger cars, civilian aircraft, nonmonetary gold and crude oil. Meanwhile, exports rose 2.7% to a record high of $273.4 billion, led by sales of other petroleum products, passenger cars, pharmaceutical preparations, crude oil, plastic materials, trucks, buses, and special purpose vehicles and civilian aircraft engines. The US deficit was little changed with China ($-25.4 billion vs $-25.5 billion) and Mexico ($-15.4 billion) but widened with the European Union ($-20.5 billion vs $-17.1 billion), namely Germany ($-6.9 billion vs $-5.4 billion) and France ($-2.2 billion vs $-0.09 billion), as well as with Vietnam ($-11.3 billion vs $-11 billion). source: Bureau of Economic Analysis (BEA)

The United States recorded a trade deficit of 78.20 USD Billion in November of 2024. Balance of Trade in the United States averaged -18.46 USD Billion from 1950 until 2024, reaching an all time high of 1.95 USD Billion in June of 1975 and a record low of -101.91 USD Billion in March of 2022. 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 January of 2025.

The United States recorded a trade deficit of 78.20 USD Billion in November of 2024. Balance of Trade in the United States is expected to be -80.00 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-12-05 01:30 PM
Balance of Trade
Oct $-73.8B $-83.8B $-75B $-83B
2025-01-07 01:30 PM
Balance of Trade
Nov $-78.2B $-73.6B $-78B $-70B
2025-02-05 01:30 PM
Balance of Trade
Dec $-78.2B $ -68B

Components Last Previous Unit Reference
Goods Trade Balance -102860.00 -98260.00 USD Million Nov 2024

Related Last Previous Unit Reference
Balance of Trade -78.19 -73.62 USD Billion Nov 2024
Current Account -310.95 -275.03 USD Billion Sep 2024
Exports 273.40 266.31 USD Billion Nov 2024
Imports 351.60 339.92 USD Billion Nov 2024

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 2022, the biggest trade deficits are recorded with China, Mexico, Vietnam, Canada, Germany, Japan, and Ireland, and the biggest trade surpluses with the Netherlands, Hong Kong, Brazil, Singapore, Australia, and United Kingdom. Canada is the top trading partner, accounting for 15 percent of total trade, followed by Mexico (14 percent) and China (13 percent).
Actual Previous Highest Lowest Dates Unit Frequency
-78.19 -73.62 1.95 -101.91 1950 - 2024 USD Billion Monthly
SA


News Stream
US Trade Deficit Widens
The trade deficit in the US widened to $78.2 billion in November 2024 compared to a revised $73.6 billion gap in October and roughly in line with forecasts. Imports rose 3.4% to $351.6 billion, the biggest gain since March 2022, led by purchases of foods, feeds, and beverages, semiconductors, passenger cars, civilian aircraft, nonmonetary gold and crude oil. Meanwhile, exports rose 2.7% to a record high of $273.4 billion, led by sales of other petroleum products, passenger cars, pharmaceutical preparations, crude oil, plastic materials, trucks, buses, and special purpose vehicles and civilian aircraft engines. The US deficit was little changed with China ($-25.4 billion vs $-25.5 billion) and Mexico ($-15.4 billion) but widened with the European Union ($-20.5 billion vs $-17.1 billion), namely Germany ($-6.9 billion vs $-5.4 billion) and France ($-2.2 billion vs $-0.09 billion), as well as with Vietnam ($-11.3 billion vs $-11 billion).
2025-01-07
US Trade Gap Narrows in October
The trade deficit in the US narrowed to $73.8 billion in October 2024 from an upwardly revised $83.8 billion gap in September and compared to forecasts of a $75 billion shortfall. Exports declined 1.6% to $265.7 billion due to lower sales of industrial supplies and materials, consumer goods, passenger cars, trucks, buses, and computer accessories. On the other hand, exports rose for travel, transport, charges for the use of intellectual property, telecommunications, computer, and information services, and maintenance and repair services. Meanwhile, imports contracted 4% to $339.6 billion, with purchases falling for computers, semiconductors, automotive vehicles, parts, and engines, crude oil, and pharmaceutical preparations. Among the largest trading partners, the deficit narrowed with China ($-25.5 billion vs $-26.9 billion), Mexico ($-15.4 billion vs $-16 billion), Canada ($-4.4 billion vs $-5.8 billion) and the European Union ($-17.1 billion vs $-23.8 billion).
2024-12-05
US Trade Gap Highest in Over 2 Years
The trade deficit in the US widened to $84.4 billion in September 2024, the highest since April 2022, and slightly above forecasts of a $84.1 billion gap, and compared to a downwardly revised $70.8 billion shortfall in August. Exports declined 1.2% to $267.9 billion after reaching a record high level in August. Lower sales were mostly recorded for pharmaceutical preparations, civilian aircraft, crude oil and maintenance and repair services while an increase in shipments was recorded for government goods and services and transport. Imports increased 3% to a new record high level of $352.3 billion, mainly due to pharmaceutical preparations, computers, passenger cars, semiconductors, nonmonetary gold, finished metal shapes and transport. In contrast, imports declined for charges for the use of intellectual property and travel.
2024-11-05