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United States trade deficits from 1997 to 2021. Deficits are over 50 billion dollars as of 2021 with the countries shown. Data from the US Census Bureau.. The balance of trade of the United States moved into substantial deficit from the late 1990s, especially with China and other Asian countries.
The US trade deficit widened to a record $945 billion in 2022, narrowed to $785 billion in 2023, but was expected to widen again in 2024 in part due to economic expansion and consumer demand, an ...
World map by current account balance (% of GDP), 2023, according to World Bank [1]. This is the list of countries by current account balance, expressed in current U.S. dollars and as percentage of GDP, based on the data published by World Bank, United Nations Conference on Trade and Development and Organisation for Economic Co-operation and Development.
The U.S. trade deficit in goods widened to a 2-1/2-year high in September amid a surge in imports, prompting some economists to trim their economic growth estimates for the third quarter.
A trade deficit occurs when a country imports more than it exports -- and that's a good thing for a national economy. ... In the United States, the Bureau of Economic Analysis (BEA) is the agency ...
In 2018, the year that a trade war with China was launched by U.S. President Donald Trump, the U.S. trade deficit in goods reached $891 billion, which was the largest on record [29] before the $1,183 billion deficit in the trade of goods recorded in 2021. [30]
The goods trade deficit with China widened to $26.9 billion from $24.7 billion in August. Trade subtracted 0.56 percentage point from gross domestic product in the third quarter.
The New York Times reported on June 10, 2020, that "the United States budget deficit grew to a record $1.88 trillion for the first eight months of this fiscal year." [130] The US economy recovered from the COVID-19 pandemic in 2021, growing by 5.7%, which was its best performance since Ronald Reagan's presidency (1981–1989). [131]