Annual 2008 Trade Highlights

This page shows the Balance, Exports and Imports for the current year and prior year, along with the percent change and dollar change between the two. The last column of the table shows the last time the percent change (or dollar change) was larger. Some interesting facts about this month's International Trade in Goods and Services report can be found at the bottom of the page.

Goods and Services on a Balance of Payments (BOP) Basis, seasonally adjusted - series began with January 1992 statistics.

All Values in billions of dollars

Percent Change from Prior Year

Dollar Change From Prior Year

• The 2008 exports of goods and services ($1,843.0 billion) and 2008 exports of goods ($1,291.3 billion) were records.
• The 2008 imports of goods and services ($2,520.1 billion) and 2008 imports of goods ($2,112.5 billion) were records.
• The 2008 services surplus ($144.1 billion) was a record.
• The 2008 exports of services ($551.6 billion) and 2008 imports of services ($407.6 billion) were records.
• The 2008 goods and services deficit decrease ($23.2 billion) is the second consecutive year-to-year decrease.

Goods on a Census Basis (seasonally adjusted)

Balance

• The 2008 petroleum deficit ($386.3 billion) was a record.
• The 2008 advanced technology products deficit ($55.6 billion) was a record.

Exports

• Exports in 2008 of $1,300.5 billion were a record.
• The 2008 exports of foods, feeds, and beverages ($108.4 billion); industrial supplies and materials ($387.3 billion); capital goods ($469.5 billion); and consumer goods ($161.2 billion) were records.
• The 2008 exports of petroleum ($67.0 billion) and non-petroleum ($1,233.5 billion) were records.

Imports

• Imports in 2008 of $2,100.4 billion were a record.
• The 2008 imports of food, feeds, and beverages ($89.0 billion); industrial supplies and materials ($775.5 billion); capital goods ($453.8 billion); and consumer goods ($482.5 billion) were records.
• The 2008 imports of petroleum ($453.3 billion) and non-petroleum ($1,647.1 billion) were records.

Country and other highlights (Census Basis, not seasonally adjusted)

• The 2008 exports to Canada ($261.4 billion) and the 2008 imports from Canada ($335.6 billion) were records.
• The 2008 exports to Mexico ($151.5 billion), and imports from Mexico ($215.9 billion) were records.
• The 2008 exports to the European Union ($274.5 billion) and the 2008 imports from the European Union ($367.9 billion) were records.
• The 2008 deficit with China ($266.3 billion), exports to China ($71.5 billion), and imports from China ($337.8 billion) were records.
• The 2008 exports to South/Central America ($137.8 billion) and the 2008 imports from South/Central America ($160.0 billion) were records.
• The 2008 deficit with OPEC ($175.6 billion), exports to OPEC ($67.0 billion), and imports from OPEC ($242.6 billion) were records.
• The 2008 exports of advanced technology products ($275.8 billion) and 2008 imports of advanced technology products ($331.4 billion) were records.
• The 2008 import average price per barrel of crude oil ($95.23) was a record.