The U.S. international trade deficit increased from $845.0 billion in 2021 to $945.3 billion in 2022 (revised), as imports increased more than exports. The goods deficit increased $100.7 billion to $1.19 trillion, and the services surplus increased $0.5 billion to $245.7 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 of goods and services increased $455.2 billion, or 17.8 percent, in 2022 to $3.01 trillion. Exports of goods increased $324.5 billion, and exports of services increased $130.7 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($190.9 billion), in capital goods ($51.0 billion), and in consumer goods ($23.6 billion).
- The increase in exports of services reflected increases in travel ($65.0 billion), in transport ($25.0 billion), and in other business services ($23.2 billion).
Imports of goods and services increased $555.5 billion, or 16.3 percent, in 2022 to $3.96 trillion. Imports of goods increased $425.2 billion, and imports of services increased $130.3 billion.
- The increase in imports of goods reflected increases in industrial supplies and materials ($160.7 billion), in capital goods ($103.5 billion), in consumer goods ($76.3 billion), and in automotive vehicles, parts, and engines ($52.0 billion).
- The increase in imports of services reflected increases in travel ($58.1 billion) and in transport ($49.7 billion).
Real, or inflation-adjusted, statistics are also available for trade in goods. The real goods deficit increased 7.2 percent in 2022, compared to a 9.8 percent nominal increase. Real exports of goods increased 5.9 percent, compared to a 17.7 percent nominal increase. Real imports of goods increased 6.4 percent, compared to a 14.7 percent nominal increase.
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