International Trade & Investment

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $2.0 billion, or 0.9 percent, to $217.9 billion in the fourth quarter of 2021. The narrowing reflected a reduced deficit on secondary income and expanded surpluses on services and on primary income that were mostly offset by an expanded deficit on goods. The fourth-quarter deficit was 3.6 percent of current-dollar gross domestic product, down from 3.8 percent in the third quarter.

The U.S. international trade deficit increased in 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $676.7 billion in 2020 to $861.4 billion in 2021, as imports increased more than exports. The goods deficit increased $169.4 billion in 2021 to $1,091.4 billion. The services surplus decreased $15.3 billion in 2021 to $230.0 billion. The goods and services deficit was 3.7 percent of current-dollar gross domestic product in 2021, up from 3.2 percent in 2020.

The U.S. monthly international trade deficit increased in January 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $82.0 billion in December (revised) to $89.7 billion in January, as imports increased and exports decreased. The previously published December deficit was $80.7 billion. The goods deficit increased $7.1 billion in January to $108.9 billion. The services surplus decreased $0.6 billion in January to $19.2 billion.

The U.S. monthly international trade deficit increased in December 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $79.3 billion in November (revised) to $80.7 billion in December, as imports increased more than exports. The previously published November deficit was $80.2 billion. The goods deficit increased $3.2 billion in December to $101.4 billion. The services surplus increased $1.8 billion in December to $20.7 billion.

The U.S. monthly international trade deficit increased in November 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $67.2 billion in October (revised) to $80.2 billion in November, as imports increased more than exports. The previously published October deficit was $67.1 billion. The goods deficit increased $15.1 billion in November to $99.0 billion. The services surplus increased $2.1 billion in November to $18.8 billion.

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.07 trillion at the end of the third quarter of 2021, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $34.45 trillion, and liabilities were $50.53 trillion. At the end of the second quarter, the net investment position was –$15.91 trillion.

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $16.5 billion, or 8.3 percent, to $214.8 billion in the third quarter of 2021. The widening reflected a reduced surplus on services and expanded deficits on secondary income and on goods that were partly offset by an expanded surplus on primary income. The third-quarter deficit was 3.7 percent of current-dollar gross domestic product, up from 3.5 percent in the second quarter.

The U.S. monthly international trade deficit decreased in October 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $81.4 billion in September (revised) to $67.1 billion in October, as exports increased more than imports. The previously published September deficit was $80.9 billion. The goods deficit decreased $14.0 billion in October to $83.9 billion. The services surplus increased $0.3 billion in October to $16.8 billion.

The U.S. monthly international trade deficit increased in September 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $72.8 billion in August (revised) to $80.9 billion in September, as imports increased and exports decreased. The previously published August deficit was $73.3 billion. The goods deficit increased $8.9 billion in September to $98.2 billion. The services surplus increased $0.8 billion in September to $17.2 billion.

The U.S. monthly international trade deficit increased in August 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $70.3 billion in July (revised) to $73.3 billion in August, as imports increased more than exports. The previously published July deficit was $70.1 billion. The goods deficit increased $1.6 billion in August to $89.4 billion. The services surplus decreased $1.4 billion in August to $16.2 billion.