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Trade Deficit 2023 (Million USD)

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US Trade Deficit by Country 2024

A trade deficit – also known as a negative balance of trade – is an economic term related to international trade. A trade deficit, in short, means that a nation’s imports exceed its exports. In other words, a country with a trade deficit spends more money in a year than it receives from its exports. Many nations around the world have trade deficits, including the United Kingdom, Mexico, Brazil, and the United States.

Country
Trade Deficit 2023
China$279,424
Mexico$152,379
Vietnam$104,627
Germany$83,021
Japan$71,175
Canada$67,861
Ireland$65,342
South Korea$51,398
Taiwan$47,975
Italy$44,012

The United States has the largest trade deficit in the world. In 2018, the trade deficit of this nation was $621 billion. While the country brought in over $3 trillion in imports, the amount of exports was just $2.5 trillion. The largest exports of the United States were cars, food, and commercial aircraft. The largest imports were cell phones, oil, and cars.

The largest deficit in goods in the United States is with China. In fact, over 65% of the trade deficit – or $419 billion – is because of imports from China. The main imports that the US purchased from China include clothing, machinery, and electronics.

The United States also has a trade deficit with Mexico. This deficit is significantly smaller than that of China’s at just $81 billion. The U.S. has imported $346 billion worth of goods from Mexico, including vehicles and auto parts.

A trade deficit of $68.2 billion with Germany is the third largest trade deficit of the U.S. The U.S. imported $126 billion in auto parts and vehicles, medicine, and machinery.

The United States has a trade deficit of $67.6 billion with Japan. Vehicles and industrial supplies are among the primary imports that the U.S. acquires from Japan.

The U.S. also has a $20 billion trade deficit with Canada. While the U.S. exports vehicles, petroleum, and auto parts, it imports more crude oil and gas from Canada.

  • All values shown are displayed in millions of US dollars.
  • The Trade Balance is the difference between the value of goods and services the US exports to another country and the amount it imports from that same country.
  • A Trade Deficit occurs when the value of total imports is greater than the value of total exports and the trade balance becomes a negative number.
  • Countries with no entry in the Trade Deficit column have a trade surplus rather than a deficit.

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Country
Trade Deficit 2023 (Million USD)
Imports from 2023 (Million USD)
Exports to 2023 (Million USD)
Trade Balance 2023 (Million USD)
Total Trade 2023 (Million USD)
China$279,424$427,229$147,806-$279,424$575,035
Mexico$152,379$475,607$323,228-$152,379$798,835
Vietnam$104,627$114,439$9,812-$104,627$124,250
Germany$83,021$159,720$76,699-$83,021$236,420
Japan$71,175$147,340$76,165-$71,175$223,506
Canada$67,861$421,096$353,235-$67,861$774,331
Ireland$65,342$82,290$16,949-$65,342$99,239
South Korea$51,398$116,235$64,836-$51,398$181,071
Taiwan$47,975$87,752$39,776-$47,975$127,528
Italy$44,012$72,942$28,930-$44,012$101,873
India$43,651$83,768$40,117-$43,651$123,884
Thailand$40,720$56,374$15,653-$40,720$72,027
Malaysia$26,705$46,147$19,442-$26,705$65,588
Switzerland$24,319$52,189$27,871-$24,319$80,060
Indonesia$16,863$26,807$9,943-$16,863$36,750
Austria$13,609$19,139$5,530-$13,609$24,669
France$13,393$57,649$44,257-$13,393$101,906
Cambodia$11,272$11,578$305-$11,272$11,883
Sweden$9,788$18,403$8,615-$9,788$27,018
Slovakia$7,887$8,314$427-$7,887$8,741
Hungary$7,712$10,832$3,120-$7,712$13,952
South Africa$6,814$13,971$7,156-$6,814$21,127
Israel$6,787$20,820$14,034-$6,787$34,854
Denmark$6,379$11,634$5,255-$6,379$16,889
Iraq$6,237$8,495$2,259-$6,237$10,754
Bangladesh$6,030$8,282$2,252-$6,030$10,534
Finland$4,467$7,373$2,906-$4,467$10,279
Portugal$4,226$6,507$2,282-$4,226$8,789
Philippines$3,981$13,269$9,288-$3,981$22,557
Russia$3,968$4,566$597-$3,968$5,163
Slovenia$3,541$3,909$369-$3,541$4,278
Nigeria$3,097$5,696$2,599-$3,097$8,295
Czech Republic$2,960$7,497$4,537-$2,960$12,033
Pakistan$2,812$4,887$2,076-$2,812$6,963
Romania$2,695$3,999$1,304-$2,695$5,303
Sri Lanka$2,477$2,843$366-$2,477$3,209
Nicaragua$2,374$4,744$2,371-$2,374$7,115
Poland$2,160$13,174$11,015-$2,160$24,189
Saudi Arabia$2,004$15,877$13,873-$2,004$29,750
Guyana$1,904$3,272$1,368-$1,904$4,640
Algeria$1,829$3,043$1,214-$1,829$4,258
Jordan$1,382$2,915$1,532-$1,382$4,447
Costa Rica$1,315$10,459$9,144-$1,315$19,603
New Zealand$1,191$5,551$4,359-$1,191$9,910
Venezuela$1,092$3,594$2,501-$1,092$6,095
Libya$1,090$1,536$446-$1,090$1,982
Norway$1,084$6,118$5,034-$1,084$11,152
Kazakhstan$1,073$2,233$1,160-$1,073$3,394
Bulgaria$1,061$1,572$511-$1,061$2,082
Brazil$39,122$44,808$5,685$83,930
Ethiopia$491$1,211$720$1,702
Egypt$2,391$4,487$2,096$6,878
DR Congo$275$189-$86$464
Iran$2$59$57$61
Turkey$15,498$14,694-$805$30,192
Tanzania$192$425$232$617
United Kingdom$64,285$74,090$9,804$138,375
Kenya$895$494-$402$1,389
Colombia$16,159$17,552$1,394$33,711
Uganda$116$122$7$238
Sudan$12$55$43$67
Spain$23,120$25,001$1,881$48,121
Argentina$6,438$11,442$5,004$17,880
Afghanistan$20$50$30$70
Morocco$1,697$3,752$2,055$5,449
Ukraine$1,305$1,049-$256$2,353
Angola$1,170$595-$575$1,766
Uzbekistan$95$368$273$463
Yemen$7$179$172$186
Mozambique$209$193-$17$402
Ghana$1,672$851-$821$2,523
Peru$8,735$12,039$3,304$20,774
Nepal$135$63-$72$197
Madagascar$722$62-$660$784
Ivory Coast$948$545-$403$1,494
Cameroon$128$215$87$343
Niger$47$78$31$125
Australia$15,954$33,678$17,724$49,633
North Korea$0$0$0
Syria$11$14$3$25
Mali$8$101$93$108
Burkina Faso$4$46$42$50
Malawi$45$18-$26$63
Zambia$153$94-$59$248
Chile$15,542$18,724$3,182$34,266
Chad$84$32-$53$116
Somalia$3$53$50$56
Ecuador$8,600$7,948-$652$16,549
Guatemala$4,840$9,742$4,902$14,582
Senegal$159$345$186$504
Netherlands$38,447$82,189$43,742$120,636
Zimbabwe$115$38-$77$153
Guinea$13$183$170$197
Rwanda$38$38$0$76
Benin$12$241$228$253
Burundi$6$4-$2$10
Bolivia$412$505$93$916
Tunisia$861$559-$302$1,421
Haiti$819$1,290$471$2,109
Belgium$23,027$38,829$15,801$61,856
Dominican Republic$7,059$13,063$6,004$20,121
South Sudan$0$52$52$52
Cuba$4$404$400$408
Honduras$5,564$6,794$1,229$12,358
Papua New Guinea$78$129$51$207
Azerbaijan$69$542$472$611
Tajikistan$1$118$117$119
Greece$2,057$1,785-$272$3,843
United Arab Emirates$6,579$24,857$18,279$31,436
Belarus$47$17-$30$64
Togo$83$383$299$466
Sierra Leone$22$104$82$126
Laos$305$47-$259$352
Hong Kong$4,184$27,768$23,585$31,952
Serbia$731$239-$492$971
Paraguay$259$2,765$2,507$3,024
Kyrgyzstan$13$141$129$154
Turkmenistan$2$57$55$59
El Salvador$2,455$4,266$1,811$6,722
Republic of the Congo$297$200-$97$496
Singapore$40,340$42,447$2,107$82,787
Central African Republic$2$17$15$19
Liberia$58$251$193$309
Lebanon$198$542$344$740
Mauritania$14$172$158$186
Oman$1,651$1,862$211$3,513
Panama$527$11,208$10,681$11,735
Kuwait$1,718$2,919$1,201$4,637
Croatia$901$1,032$131$1,933
Eritrea$0$32$31$32
Georgia$113$1,513$1,400$1,626
Mongolia$30$168$138$198
Uruguay$875$1,879$1,004$2,753
Moldova$109$72-$37$181
Bosnia and Herzegovina$152$25-$127$177
Gambia$2$70$69$72
Albania$77$139$62$217
Jamaica$390$2,624$2,235$3,014
Armenia$133$189$56$321
Qatar$2,048$4,658$2,611$6,706
Botswana$490$68-$422$559
Lithuania$2,109$2,875$766$4,984
Namibia$133$177$44$309
Gabon$80$180$100$261
Lesotho$227$3-$223$230
Latvia$620$997$377$1,618
Equatorial Guinea$285$99-$186$384
Trinidad and Tobago$3,159$2,250-$909$5,409
Bahrain$1,180$1,676$496$2,856
Timor Leste$5$21$16$26
Estonia$775$366-$409$1,141
Mauritius$287$91-$196$378
Cyprus$53$188$135$241
Eswatini$31$38$8$69
Djibouti$48$191$144$239
Reunion$27$14-$13$41
Fiji$260$101-$159$360
Comoros$3$1-$2$4
Bhutan$2$4$3$6
Solomon Islands$1$10$8$11
Macau$135$526$391$662
Luxembourg$690$2,365$1,675$3,056
Suriname$76$483$406$559
Montenegro$17$46$29$63
Cape Verde$6$62$56$68
Malta$226$424$198$649
Maldives$11$69$58$79
Brunei$222$142-$80$363
Belize$55$649$593$704
Bahamas$1,825$5,582$3,757$7,408
Guadeloupe$10$509$498$519
Iceland$674$328-$346$1,003
Martinique$6$391$385$397
Mayotte$3$2-$1$4
Vanuatu$6$13$7$20
French Guiana$1$14$14$15
French Polynesia$42$164$122$205
New Caledonia$23$63$40$87
Barbados$48$716$668$764
Sao Tome and Principe$2$1-$0$3
Samoa$7$33$26$39
Curacao$70$500$431$570
Saint Lucia$10$658$647$668
Kiribati$0$8$8$9
Grenada$15$202$187$217
Micronesia$2$52$50$54
Tonga$3$17$15$20
Seychelles$10$31$21$42
Aruba$15$638$622$653
Saint Vincent and the Grenadines$5$175$170$180
Antigua and Barbuda$13$977$964$990
Andorra$53$6-$47$60
Dominica$2$72$70$74
Cayman Islands$30$1,282$1,252$1,312
Bermuda$25$559$534$584
Greenland$27$7-$20$34
Faroe Islands$274$3-$271$277
Saint Kitts and Nevis$22$179$157$200
Turks and Caicos Islands$12$596$584$609
Sint Maarten$90$851$761$941
Marshall Islands$17$58$41$75
Liechtenstein$254$86-$168$340
Monaco$69$72$3$141
San Marino$19$2-$17$21
Gibraltar$1$251$250$252
British Virgin Islands$19$463$443$482
Palau$1$20$20$21
Cook Islands$1$5$5$6
Anguilla$1$70$69$71
Nauru$1$1$0$2
Tuvalu$1$0-$1$1
Wallis and Futuna$0$2$2$2
Saint Pierre and Miquelon$0$0$0$0
Montserrat$1$16$14$17
Falkland Islands$27$0-$26$27
Niue$5$0-$5$5
Tokelau$1$0-$1$2
Vatican City$2$1-$1$3
showing: 218 rows

What countries does the US have a trade deficit with?

The United States has a trade deficit with China, Mexico, Germany, Japan, and Canada.

Frequently Asked Questions

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