- US Trade Deficit: In 2018, the US trade deficit in goods and services widened 12.4% to reach $621 billion, our widest trade deficit in ten years.
- US Trade Deficit as % of GDP: A trade deficit equivalent to 3% of US GDP indicates that 3% of US spending went on imported goods and services, indicating lost demand for US production and a substantial contractionary force on the US economy.
- US Goods Trade Deficit: In 2018, the US ran a trade deficit in goods of $891.3 billion, the largest-ever goods trade deficit in US (and world) history.
- US Services Trade Balance: The US runs a surplus in services due to a strength in service sectors including education, financial services, intellectual property charges, and other business services.
- US Non-Petroleum Goods Deficit: Our deficit in petroleum and related products is shrinking each year, indicating that our deficit in non-petroleum goods, at $825.4 billion in 2018, is widening more rapidly than our total goods deficit.
Source: US Department of Commerce