The BEA Wire | BEA's Official Blog

February 2024 Trade Gap is $68.9 Billion

The U.S. goods and services trade deficit increased from $67.6 billion in January (revised) to $68.9 billion in February, as imports increased more than exports. The goods deficit decreased $0.3 billion to $91.4 billion, and the services surplus decreased $1.6 billion to $22.5 billion.

Beer and the Balance of Payments

A blog post from BEA Director Vipin Arora

Trade—what Adam Smith described as our intrinsic "propensity to truck, barter, and exchange one thing for another"—has helped to make today's world. It is hard to say how long trade has been with us, but certainly since the beginning of recorded history, and likely much longer. One of my favorite examples is beer, which was a very popular beverage in ancient Mesopotamia. As far back as…

2023 Trade Gap is $779.8 Billion

The U.S. goods and services trade deficit decreased from $951.2 billion in 2022 to $779.8 billion in 2023 (revised), as exports increased and imports decreased. The goods deficit decreased $123.4 billion to $1,059.6 billion, and the services surplus increased $48.0 billion to $279.8 billion. The goods and services deficit was 2.9 percent of current-dollar gross domestic product in 2023, down from 3.7 percent in 2022.

January 2024 Trade Gap is $67.4 Billion

The U.S. goods and services trade deficit increased from $64.2 billion in December (revised) to $67.4 billion in January, as imports increased more than exports. The goods deficit increased $3.0 billion to $91.6 billion, and the services surplus decreased $0.3 billion to $24.2 billion

2023 Trade Gap is $773.4 Billion

The U.S. goods and services trade deficit decreased from $951.2 billion in 2022 to $773.4 billion in 2023, as exports increased and imports decreased. The goods deficit decreased $121.3 billion to $1,061.7 billion, and the services surplus increased $56.4 billion to $288.2 billion. The goods and services deficit was 2.8 percent of current-dollar gross domestic product in 2023, down from 3.7 percent in 2022.

December 2023 Trade Gap is $62.2 Billion

The U.S. goods and services trade deficit increased from $61.9 billion in November (revised) to $62.2 billion in December, as imports increased more than exports. The goods deficit increased $0.7 billion to $89.1 billion, and the services surplus increased $0.4 billion to $26.9 billion.

November 2023 Trade Gap is $63.2 Billion

The U.S. goods and services trade deficit decreased from $64.5 billion in October (revised) to $63.2 billion in November, as imports decreased more than exports. The goods deficit decreased $0.6 billion to $89.4 billion, and the services surplus increased $0.7 billion to $26.2 billion.

U.S. Current-Account Deficit Narrows in 3rd Quarter 2023

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 $16.5 billion, or 7.6 percent, to $200.3 billion in the third quarter of 2023. The narrowing mostly reflected a reduced deficit on goods. The third-quarter deficit was 2.9 percent of current-dollar gross domestic product, down from 3.2 percent in the second…

October 2023 Trade Gap is $64.3 Billion

The U.S. goods and services trade deficit increased from $61.2 billion in September (revised) to $64.3 billion in October, as exports decreased and imports increased. The goods deficit increased $3.5 billion to $89.8 billion, and the services surplus increased $0.4 billion to $25.5 billion.

September 2023 Trade Gap is $61.5 Billion

The U.S. goods and services trade deficit increased from $58.7 billion in August (revised) to $61.5 billion in September, as imports increased more than exports. The goods deficit increased $1.7 billion to $86.3 billion, and the services surplus decreased $1.2 billion to $24.8 billion.

August 2023 Trade Gap is $58.3 Billion

The U.S. goods and services trade deficit decreased from $64.7 billion in July (revised) to $58.3 billion in August, as exports increased and imports decreased. The goods deficit decreased $5.5 billion to $84.5 billion, and the services surplus increased $1.0 billion to $26.2 billion.

U.S. Current-Account Deficit Narrows in 2nd Quarter 2023

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 $2.4 billion, or 1.1 percent, to $212.1 billion in the second quarter of 2023. The narrowing primarily reflected expanded surpluses on services and on primary income that were mostly offset by an expanded deficit on goods. The second-quarter deficit was 3.2…