The US trade deficit widened to USD 63.1 Billion in October of 2020 from a revised USD 62.1 billion in the previous month and compared to market expectations of USD 64.8 billion. Exports increased 2.2 percent to USD 182 billion in 2020, while imports rose 2.1 percent to $245.1 billion, reflection both the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year. source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -15414.67 USD Million from 1950 until 2020, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -68277 USD Million in August of 2006. This page provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Balance of Trade in the United States is expected to be -62000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in the United States to stand at -50000.00 in 12 months time. In the long-term, the United States Balance of Trade is projected to trend around -63000.00 USD Million in 2021 and -53000.00 USD Million in 2022, according to our econometric models.