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Total Balance

-400.0K

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50K

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US Trade Deficit by Country 2023

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.

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.

Here are the 10 countries with the highest trade imbalance:

  1. China: -375,576 🇨🇳
  2. Mexico: -70,953 🇲🇽
  3. Japan: -68,876 🇯🇵
  4. Germany: -63,678 🇩🇪
  5. Vietnam: -38,355 🇻🇳
  6. Ireland: -38,089 🇮🇪
  7. Italy: -31,513 🇮🇹
  8. Malaysia: -24,432 🇲🇾
  9. South Korea: -23,118 🇰🇷
  10. India: -22,914 🇮🇳
* All trade and balances are in millions of US dollars for calendar year 2017.

Download Table Data

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Country
Total Trade
Exports
Imports
Total Balance
Hong Kong47,31539,9397,37632,563
Netherlands59,29541,51017,78523,725
United Arab Emirates24,28920,0204,26915,751
Belgium44,92129,92414,99714,927
Australia34,57224,52710,04514,482
Singapore49,17329,80619,36710,439
Brazil66,67437,22229,4527,770
United Kingdom109,31856,25853,0603,198
Chile24,15613,60510,5513,054
Saudi Arabia35,22918,88116,3482,533
Colombia26,86913,31213,557-245
Spain26,70911,06415,645-4,581
Israel34,49512,55021,945-9,395
Russia24,0196,99817,021-10,023
Indonesia25,2406,86420,209-13,345
Switzerland57,68221,68535,997-14,312
France82,49533,59648,899-15,303
Taiwan68,19225,73042,462-16,732
Canada581,584282,265299,319-17,054
Thailand42,14410,99231,152-20,160
India74,29225,68948,603-22,914
South Korea119,77048,32671,444-23,118
Malaysia50,36012,96437,396-24,432
Italy68,32318,40549,918-31,513
Ireland59,50510,70848,797-38,089
Vietnam54,6218,13346,488-38,355
Germany171,47253,897117,575-63,678
Japan204,08667,605136,481-68,876
Mexico557,581243,314314,267-70,953
China635,364129,894505,470-375,576
showing: 30 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

Sources