Notice

Due to a lapse in appropriations, this website is not being updated.

March 7, 2018

The U.S. international trade deficit increased in 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $504.8 billion in 2016 to $568.4 billion in 2017, as imports increased more than exports. As a percentage of U.S. gross domestic product, the goods and services deficit was 2.9 percent in 2017, up from 2.7 percent in 2016. The goods deficit increased from $752.5 billion in 2016 to $811.2 billion in 2017, and the services surplus decreased from $247.7 billion in 2016 to $242.8 billion in 2017.

Balance on Goods and Services Trade 1997-2017

Exports

Exports of goods and services increased $123.5 billion, or 5.6 percent, in 2017 to $2,331.6 billion. Exports of goods increased $95.0 billion and exports of services increased $28.5 billion.

  • The largest increases in exports of goods were in industrial supplies and materials ($66.4 billion) and in capital goods ($13.2 billion).
  • The largest increases in exports of services were in other business services ($12.2 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, in financial services ($8.2 billion), and in charges for the use of intellectual property ($3.5 billion).

Imports

Imports of goods and services increased $187.2 billion, or 6.9 percent, in 2017 to $2,900.0 billion. Imports of goods increased $153.7 billion and imports of services increased $33.5 billion.

  • The largest increases in imports of goods were in industrial supplies and materials ($64.3 billion), in capital goods ($50.7 billion), and in consumer goods ($18.6 billion).
  • The largest increases in imports of services were in travel (for all purposes including education) ($11.6 billion), in other business services ($5.9 billion), and in transport ($4.4 billion).

For more information, read the full report.