[vc_row][vc_column width=”1/3″][vc_column_text][/vc_column_text][vc_column_text]In 2018, the US trade deficit in goods and services widened 12.4% to reach $621 billion, our widest trade deficit in ten years.[/vc_column_text][vc_empty_space height=”40px”][/vc_column][vc_column width=”1/3″][vc_column_text][/vc_column_text][vc_column_text]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.[/vc_column_text][vc_empty_space height=”40px”][/vc_column][vc_column width=”1/3″][vc_column_text][/vc_column_text][vc_column_text]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.[/vc_column_text][vc_empty_space height=”40px”][/vc_column][/vc_row][vc_row][vc_column width=”1/3″][vc_column_text][/vc_column_text][vc_column_text]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.[/vc_column_text][vc_empty_space height=”40px”][/vc_column][vc_column width=”1/3″][vc_column_text][/vc_column_text][vc_column_text]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.[/vc_column_text][vc_empty_space height=”40px”][/vc_column][vc_column width=”1/3″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

Source: US Department of Commerce

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space][/vc_column][/vc_row][vc_row gap=”25″ bg_type=”bg_color” bg_override=”full” css=”.vc_custom_1616173748058{padding-top: 32px !important;}” bg_color_value=”#eaeaea”][vc_column width=”1/3″][dt_icon_text layout=”layout_1″ show_link=”y” link=”url:https%3A%2F%2Fprosperousamerica.org%2Fcpa-trade-database%2Fus-monthly-trade-data-2%2F|title:US%20Monthly%20Trade%20Data” apply_link=”block” dt_text_title=”US Monthly Trade Data” heading_tag=”h3″ dt_text_title_font_size=”24px” dt_text_title_bottom_margin=”15px” dt_text_desc=”A look at the latest monthly data for us trade balance, exports and imports” dt_text_content_font_size=”18px” dt_text_content_line_height=”21px” show_btn=”n” icon_picker=”fas fa-chart-line” dt_text_icon_size=”20px” dt_text_icon_bg_size=”50px” dt_text_icon_border_width=”2px” dt_text_icon_paddings=”0px 10px 10px 0px” dt_text_icon_color=”#ffffff”][vc_empty_space][/vc_column][vc_column width=”1/3″][dt_icon_text layout=”layout_1″ show_link=”y” link=”url:https%3A%2F%2Fprosperousamerica.org%2Fcpa-trade-database%2Fus-trade-balance-by-major-sectors%2F|title:US%20Monthly%20Trade%20Data” apply_link=”block” dt_text_title=”US Annual Trade Balance” heading_tag=”h3″ dt_text_title_font_size=”24px” dt_text_title_bottom_margin=”15px” dt_text_desc=”US trade balance history including key sub-sectors” dt_text_content_font_size=”18px” dt_text_content_line_height=”21px” show_btn=”n” icon_picker=”fas fa-arrows-alt-h” dt_text_icon_size=”20px” dt_text_icon_bg_size=”50px” dt_text_icon_border_width=”2px” dt_text_icon_paddings=”0px 10px 10px 0px” dt_text_icon_color=”#ffffff”][vc_empty_space][/vc_column][vc_column width=”1/3″][dt_icon_text layout=”layout_1″ show_link=”y” link=”url:https%3A%2F%2Fprosperousamerica.org%2Fcpa-trade-database%2Fus-bilateral-trade-balances-2019-goods-trade%2F|title:US%20Monthly%20Trade%20Data” apply_link=”block” dt_text_title=”US Bilateral Trade” heading_tag=”h3″ dt_text_title_font_size=”24px” dt_text_title_bottom_margin=”15px” dt_text_desc=”Our trade with other nations showing major surpluses and deficits” dt_text_content_font_size=”18px” dt_text_content_line_height=”21px” show_btn=”n” icon_picker=”fas fa-globe-americas” dt_text_icon_size=”20px” dt_text_icon_bg_size=”50px” dt_text_icon_border_width=”2px” dt_text_icon_paddings=”0px 10px 10px 0px” dt_text_icon_color=”#ffffff”][vc_empty_space][/vc_column][/vc_row][vc_row gap=”25″ bg_type=”bg_color” bg_override=”full” bg_color_value=”#eaeaea”][vc_column width=”1/3″][dt_icon_text layout=”layout_1″ show_link=”y” link=”url:https%3A%2F%2Fprosperousamerica.org%2Fcpa-trade-database%2Fus-advanced-technology-trade-and-sub-sectors%2F|title:US%20Monthly%20Trade%20Data” apply_link=”block” dt_text_title=”US Advanced Technology” heading_tag=”h3″ dt_text_title_font_size=”24px” dt_text_title_bottom_margin=”15px” dt_text_desc=”Our trade in Advanced Technology products and key sub-sectors of Advanced Technology” dt_text_content_font_size=”18px” dt_text_content_line_height=”21px” show_btn=”n” icon_picker=”fas fa-file-invoice” dt_text_icon_size=”20px” dt_text_icon_bg_size=”50px” dt_text_icon_border_width=”2px” dt_text_icon_paddings=”0px 10px 10px 0px” dt_text_icon_color=”#ffffff”][vc_empty_space][/vc_column][vc_column width=”1/3″][dt_icon_text layout=”layout_1″ show_link=”y” link=”url:https%3A%2F%2Fprosperousamerica.org%2Fcpa-trade-database%2Fglobal-imbalances-current-account-balances-as-share-of-gdp%2F|title:US%20Monthly%20Trade%20Data” apply_link=”block” dt_text_title=”Global Imbalances” heading_tag=”h3″ dt_text_title_font_size=”24px” dt_text_title_bottom_margin=”15px” dt_text_desc=”Current account balance as a percent of GDP for the US and other major nations” dt_text_content_font_size=”18px” dt_text_content_line_height=”21px” show_btn=”n” icon_picker=”fas fa-balance-scale” dt_text_icon_size=”20px” dt_text_icon_bg_size=”50px” dt_text_icon_border_width=”2px” dt_text_icon_paddings=”0px 10px 10px 0px” dt_text_icon_color=”#ffffff”][vc_empty_space][/vc_column][vc_column width=”1/3″][dt_icon_text layout=”layout_1″ show_link=”y” link=”url:https%3A%2F%2Fprosperousamerica.org%2Fcpa-trade-database%2Fexchange-rates-major-international-currencies%2F|title:US%20Monthly%20Trade%20Data” apply_link=”block” dt_text_title=”Exchange Rates” heading_tag=”h3″ dt_text_title_font_size=”24px” dt_text_title_bottom_margin=”15px” dt_text_desc=”Exchange rates for the US dollar and other major currencies” dt_text_content_font_size=”18px” dt_text_content_line_height=”21px” show_btn=”n” icon_picker=”fas fa-money-bill” dt_text_icon_size=”20px” dt_text_icon_bg_size=”50px” dt_text_icon_border_width=”2px” dt_text_icon_paddings=”0px 10px 10px 0px” dt_text_icon_color=”#ffffff”][vc_empty_space][/vc_column][/vc_row]