The U.S. international trade deficit increased in 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $845.0 billion in 2021 to $948.1 billion in 2022, as imports increased more than exports. The goods deficit increased $101.5 billion in 2022 to $1,191.8 billion. The services surplus decreased $1.6 billion in 2022 to $243.7 billion. The goods and services deficit was 3.7 percent of current dollar gross domestic product in 2022, up from 3.6 percent in 2021.
Exports
Exports of goods and services increased $453.1 billion, or 17.7 percent, in 2022 to $3,009.7 billion. Exports of goods increased $324.2 billion and exports of services increased $128.9 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($190.9 billion), in capital goods ($51.0 billion), in consumer goods ($24.2 billion), in foods, feeds, and beverages ($15.3 billion), and in automotive vehicles, parts, and engines ($14.3 billion).
- The increase in exports of services reflected increases in travel ($63.8 billion), in other business services ($26.5 billion), and in transport ($24.3 billion).
Imports
Imports of goods and services increased $556.1 billion, or 16.3 percent, in 2022 to $3,957.8 billion. Imports of goods increased $425.7 billion and imports of services increased $130.5 billion.
- The increase in imports of goods reflected increases in industrial supplies and materials ($160.9 billion), in capital goods ($103.5 billion), in consumer goods ($76.3 billion), in automotive vehicles, parts, and engines ($52.0 billion), and in foods, feeds, and beverages ($26.1 billion).
- The increase in imports of services reflected increases in travel ($56.5 billion) and in transport ($49.1 billion).
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