What Country Has The Largest Trade Deficit, 2 billion in Octobe
What Country Has The Largest Trade Deficit, 2 billion in October (revised) to $56. 3 billion worth of goods to the U. Many nations around the world have trade deficits, including the United Kingdom, Mexico, Brazil, and the United States. recorded its largest trade deficit in goods with China, at $295. A trade deficit is not a sign of a vibrant economy. In 2024, China was the country with the highest trade surplus, with approximately ****** billion U. Mar 11, 2025 · The U. had the largest trade deficits last year, according to the International Trade Administration. Measure: percent; Source: The World Bank Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. 4%), then Vietnam (up 397%). 1 Trillion Deficit in Trade The U. 14 billion and $670 million in 2005 and 2006. goods trade deficit with Vietnam was $123. S. trade Key Takeaways The U. foreign trade dynamics continued to reflect the nation’s reliance on global commerce, with a notable widening of the trade deficit. has the largest trade deficit by far, driven by strong domestic demand for goods such as electronics, crude oil, apparel, and automobiles. Europe is home to five of the top 10 highest trade deficits worldwide, while two countries in Asia rank in the top 10. 2 billion owed to China accounting for almost half of the total. goods and services trade deficit increased in November 2025 according to the U. 1 trillion more goods than it exports, making it the world’s highest trade deficit. However, since the trade war initiated by Trump in 2018, the trend of expanding trade deficits has somewhat slowed. 3 In 2025, U. bilateral trade deficits with certain countries—such as China, the largest single source of the U. Other factors that drive America's trade deficit include a strong U. dollar making foreign products cheaper and a growing economy supported by rising incomes that enable Top Trading Partners - November 2025 Data are goods only, on a Census Basis, in billions of dollars, unrevised. total services trade (exports plus imports) with Vietnam totaled an estimated $5. The biggest trade imbalance is with China, which The president has also announced an additional tariff on Chinese imports. trade in goods surplus and deficits by country. National Debt Clock : DOGE Clock The latest data on the U. - India and the UK follow next in line, driven by strong domestic consumption. The world’s largest economy imports about $1. 9 billion. The map below shows which countries have the U. 3% since US has highest trade deficit in the world. The US Trade Representative formula for calculating the so-called “reciprocal tariffs” was based on dividing the trade balance the United States has with a country by the total goods imports and then dividing by two. The deficit increased from $29. trade deficits a priority, but economists disagree over how much they matter and what to do about them. recorded a $71. U. 1 trillion , according to the latest figures available as of March 2025. In this Markets in a Minute graphic from Terzo, we highlight the countries involved in the largest U. 9 billion) over 2023. 🔗 visualcapitalist. Total Trade | Exports | Imports | Surpluses | Deficits Explore the top 10 countries with the largest U. 0 percent increase ($18. dollars. trade deficit now routinely tops $1 trillion, principally because of four particularly large U. has the largest trade deficit globally by far, driven by strong domestic demand for goods such as electronics, crude oil, apparel, and automobiles. Listen to the article A country has a trade deficit when the value of its imports exceeds the value of its exports. 3 billion (Up 23. The United States has the world's largest trade deficit at -$1. This is the list of countries by current account balance, expressed in current U. The widening deficit was driven by a $576. 3 percent annually to $382. As of May 2025, the U. Canada has historically held a trade deficit with the United States in every year since 1985 in net trade of goods, excluding services. 8 billion in November, as exports decreased and imports increased. Annual trade deficit in goods of the U. Balance Of Trade - By Country - was last updated on Monday, February 9, 2026. Data are in current U. In 2023, the trade deficit of this nation was $773. The US trade deficit in goods and services in 2022 ballooned by 12% to an all-time magnificent breath-taking record of $948 billion, according to data by the Commerce Department. Continue reading Australia and the United Arab Emirates both received the minimum tariff level of 10%. Instead, it’s a negative for GDP, a negative for US jobs, and a negative for the overall economy. Given that the country has trade relations with more than 200 countries, regions, and territories, this network of relationships is complex. trade deficits – with China, Mexico, Vietnam and Ireland. Meanwhile, the total goods trade deficit is nearly $1. 4 billion. The highest value was in Macao: 44. Definition: Net trade in goods and services is derived by offsetting imports of goods and services against exports of goods and services. 5 billion trade deficit, a sharp increase from $61. has the largest trade deficits in order to level the playing field. The impacts of trade deficits are frequently over-simplified. trade deficits. Census Bureau Top Trading Partners - January 2017 Data are goods only, on a Census Basis, in billions of dollars, unrevised. The article will also look at what nations trade and with whom, as of 2017. Of these countries, the U. 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. has the biggest trade deficits with are China, Mexico, Vietnam, Germany, Japan, Canada, and more. The services surplus increased $0. Census Bureau. The United States has the largest trade deficit in the world. has the largest trade deficit with, with the $419. 3bn trade deficit for goods in 2025, £30. Chemicals, cars, pharmaceuticals and steel all saw sharp falls in 2025, contributing to the largest goods trade deficit on record. The table has current values for Balance of Trade, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to historical data The United States has its largest trade deficits with China, Canada, Mexico, Japan, and Germany. India and the UK follow next in line, driven by strong domestic consumption. 1 trillion in 2023, growing from $541. The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. Consecutive farm trade deficits over the past three years has been the biggest change in the country's agricultural sector after China's entry into the World Trade Organization (WTO). 9 billion in November, revised. US National Debt Clock : Real Time U. imports more than it exports to a country. Balance Of Trade - By Country - was last updated on Sunday, February 15, 2026. As of 2016, about 60 out of 200 countries have a trade surplus. trade deficit. Trade wars and political turmoil began to have an effect on trade with the U. 6 billion in April, underscoring the expanding gap between imports and exports. Exports and imports of goods and services comprise all transactions involving a change of ownership of goods and services between residents of one country and the rest of the world. President Trump has made reducing U. 4 billion in December, up $19. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Balance of Trade. trade deficits in 2024. This page provides values for Balance of Trade reported in several countries. The imbalance reached $4. 64 billion in 2004 when the country first experienced such a deficit. [2] The trade relationship between the two countries crosses all industries, and both nations are one of the largest trading partners of the other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. Britain reported a £248. Stacker looks at the top 25 countries the U. America’s $1. The following tables are based on 2023 data as shown on the CIA World Factbook. In 2022, the biggest trade deficits are recorded with China, Mexico, Vietnam, Canada, Germany, Japan, and Ireland, and the biggest trade surpluses with the Netherlands, Hong Kong, Brazil, Singapore, Australia, and On April 2, 2025, Liberation Day, President Trump imposed a 10% tariff on all countries and individualized reciprocal higher tariffs on nations with which the U. 5 billion increase in imports last year, as Americans purchased more products made abroad. By contrast, it has surpluses in agricultural products, oil and coal, and gas and crude oil. 6 billion in American products. America has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities. 5 billion from $78. 5 billion in 2024, an 18. The goods deficit increased $27. Bureau of Economic Analysis announced today that the goods and services deficit was $98. 2 trillion. China enjoys a significant trade surplus and has become the largest creditor nation for the U. com [3 comments] The United States has its largest trade deficits in computers and electronics, transportation equipment and electrical goods. has the largest trade deficit globally, at $1. 2 trillion more in goods in 2024 than it exported, a record annual deficit and a major economic irritant for President Trump. Key Takeaways - The U. Year over year, the fastest-increasing trade surpluses belong to Nigeria (up 13,809% from 2023), Ecuador (up 2,037%), Micronesia (up 1,168%), Democratic Republic of the Congo (up 510. 1 billion in April 2022. This graphic the U. 07 percent. with selected countries worldwide 2010-2024 Published by Statista Research Department, Nov 19, 2025 The U. has the largest trade deficit with China, a country that sold $436. The reasons are different for each of them. On Feb. The U. Census Bureau and the U. 13, the president announced that his The Global Trade Imbalance Visualizing the highest surpluses and largest deficits between 2000 and 2023 Today, we’re looking at data from the World Trade Organization, which provides detailed data … Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. 2 billion for the US in international trade for 2023. Currently, China is the largest source of the U. Who has highest trade surplus? Here's what trade imbalance and reciprocal tariffs mean and why it matters What role do foreign trade barriers play in causing trade deficits? Some policymakers view the size of U. 4 billion, followed by the European Union, Mexico, Vietnam and Ireland. 5bn more than the previous year and the largest since the collection of comparable data began in 1997, according to figures The U. goods trade deficit with China increased by Running a trade deficit is nothing new for the United States; it has run a persistent trade deficit since the 1970s—but it also did throughout most of the 19th century. Bureau of Economic Analysis and the U. 38 percent and the lowest value was in Kiribati: -88. 9 billion in November to $86. 61 percent. - Europe is home to five of the top 10 highest trade deficits worldwide, while two countries in Asia rank in the top 10. trade deficit with China grew 8. List of largest trading partners of China The major trading partners for mainland China 2025 were as follows: [3] China is the largest trading partner of many countries. President Trump has cited the trade deficit as one reason for tariffs, saying a deficit threatens America's economic and national security. How did this happen? External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Below is a chart for all countries where data are available. 9 billion, the second-highest total on record. With a possible trade war preoccupying the news, current talk has focused on trade deficits. Learn more. In 2015, as per the data from the International Monetary Fund, national economies with the worst trade account balances were: Compartir Which Countries Have the Largest Trade Deficits? In the United States, President Trump is prioritizing the trade deficit as a key issue, a move that could reshape global trade dynamics. trade deficits appear to follow phases of industrialization. Nov 18, 2025 · United States remains by far the largest deficit country in absolute terms, with a goods trade gap above US$1. Cars: -US$147. For a full list of all trading partners and their rankings, see supplemental exhibit 4 in the FT-900. The countries the U. . A trade deficit occurs when a country's imports exceed its exports during a given time period. Feb 7, 2025 · The U. United Kingdom and India form a second tier of large deficit economies, each above US$250 billion. imported $1. New Delhi, India – United States President Donald Trump has announced what he described as a “trade deal” with India to reduce market barriers between the two countries, which have a Products Causing Biggest Trade Deficits for the United States The 10 major products below accumulated a deficit subtotal of -US$553. trade deficit growth since 1990, and how manufactured goods and fuels factor in over the last three decades. overall trade deficit—as an indicator that the trade relationship is “unfair” and the result of market-distorting trade policies, such as trade barriers, subsidies, and The deficit with China, for example, is $383 billion. Total Trade | Exports | Imports | Surpluses | Deficits Trade deficits occurs when the U. Overall trade with China last year easily surpassed previous records, and the U. 1T (2023). trade deficit was $87. China tops the list, followed by Mexico, Taiwan, and more. in 2023, while buying only $153. At the forefront of this imbalance stood the United States, registering the world’s most significant trade deficit at $1. Alongside undocumented immigration and drug trafficking, the president has cited trade deficits as a reason for tariffs. Trade deficits can be damaging but they also bring welcome economic benefits. 6 billion in 2024. Ranking Trade Europe is home to five of the top 10 countries with the largest trade surplus, followed by two in Asia as global trade tensions rise. , which still ran up an $878. 6 billion in two decades. External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). A trade deficit indicates that more of a country’s currency is channeled to other nations than the amount flowing back to the country’s economy. imported $918 billion more goods and services in 2024 than it imported, a 59% increase since 2019 when the trade deficit was $576 billion. This massive deficit reflects America's role as the global consumer market, strong domestic demand, and the dollar's status as the world's reserve currency enabling sustained deficit financing. 2 trillion and it increased by 9% in 2022. Trade balance as percent of GDP, 2024: The average for 2024 based on 134 countries was -3. 6 billion deficit. This article will look at the 50 nations with the largest trade deficits, according to data from the CIA and the World Bank. The figures were trimmed downed to $1. President Donald Trump has made reducing U. In 2024, the United States reported the highest trade balance deficit with approximately **** trillion U. 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