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U.S. International Trade in Goods and Services


U.S. Census Bureau and U.S. Bureau of Economic Analysis - Economics and Statistics Administration - U.S. Department of Commerce

Click here for the downloadable version of the Congressional Highlights (PDF)

GOODS AND SERVICES DEFICIT INCREASED IN 2014

The Nation’s international trade deficit in goods and services increased to $505.0 billion in 2014 from $476.4 billion in 2013, as imports increased more than exports.

GOODS AND SERVICES

  • Exports increased to $2,345.4 billion in 2014 from $2,280.2 billion in 2013. Goods were $1,635.1 billion in 2014, up from $1,592.8 billion in 2013. Services were $710.3 billion in 2014, up from $687.4 billion in 2013.
  • Imports increased to $2,850.5 billion in 2014 from $2,756.6 billion in 2013. Goods were $2,371.9 billion in 2014, up from $2,294.5 billion in 2013. Services were $478.5 billion in 2014, up from $462.1 billion in 2013.
  • For goods, the deficit was $736.8 billion in 2014, up from $701.7 billion in 2013. For services, the surplus was $231.8 billion in 2014, up from $225.3 billion in 2013.

Trade in Goods and Services (Billions of Dollars)

Trade in Goods and Services (Billions of Dollars)

GOODS BY CATEGORY (CENSUS BASIS)

Exports of goods increased $43.7 billion to $1,623.3 billion in 2014. Capital goods increased $15.8 billion, reflecting increases in other industrial machines ($5.3 billion) and in civilian aircraft ($4.3 billion).

TOP DECREASES FOR EXPORTS OF CAPITAL GOODS
(Billions of Dollars)Top Increases for Exports of Automotive Vehicles, Parts, and Engines (Billions of Dollars)

Imports of goods increased $77.5 billion to $2,345.8 billion in 2014. Capital goods increased $36.8 billion, reflecting increases in other industrial machines ($6.5 billion) and in telecommunications equipment ($4.3 billion).

TOP DECREASES FOR IMPORTS OF CAPITAL GOODS
(Billions of Dollars)Top Increases for Imports of Top Increases for Exports of Automotive Vehicles, Parts, and Engines (Billions of Dollars)

SERVICES BY CATEGORY

Exports of services increased $22.9 billion to $710.3 billion in 2014. The increase mostly reflected increases in travel (for all purposes including education) ($5.9 billion), in charges for the use of intellectual property ($5.7 billion), and in financial services ($5.4 billion).

Imports of services increased $16.4 billion to $478.5 billion in 2014. The increase mostly reflected increases in travel (for all purposes including education) ($6.7 billion), in other business services ($5.6 billion), and in transport, which includes freight and port services and passenger fares ($3.7 billion).


GOODS BY GEOGRAPHIC AREA: 2013 AND 2014
(Billions of Dollars)

European Union

European Union

The goods deficit with the European Union increased from $125.4 billion in 2013 to $141.1 billion in 2014. Exports increased $14.5 billion (primarily civilian aircraft, engines, equipment, and parts and non-monetary gold) to $276.7 billion, while imports increased $30.2 billion (primarily pharmaceutical preparations) to $417.8 billion.

China

Canada

The goods deficit with China increased from $318.7 billion in 2013 to $342.6 billion in 2014. Exports increased $2.3 billion (primarily passenger cars) to $124.0 billion, while imports increased $26.2 billion (primarily cell phones) to $466.7 billion.

Mexico

Mexico

The goods deficit with Mexico decreased from $54.4 billion in 2013 to $53.8 billion in 2014. Exports increased $14.2 billion (primarily automotive engines and engine parts) to $240.3 billion, while imports increased $13.6 billion (primarily automobiles and automotive parts and accessories) to $294.2 billion.


EXPORTS OF GOODS BY STATE
(Origin of Movement)

Top 2013 to 2014 Increases
(Millions of Dollars)
State October Total November Total Change
Texas $279,694.9 $289,023.3 $9,328.4
Washington 81,938.7 90,645.9 8,707.2
California 168,128.4 174,128.6 6,000.2
South Carolina 26,109.5 29,704.0 3,594.5
Illinois 65,848.7 68,182.1 2,333.4

Top 2013 to 2014 Decreases
(Millions of Dollars)
State October Total November Total Change
Utah $18,064.7 $22,355.1
-$3,799.0
Michigan 58,456.2 55,751.1 -2,705.1
Florida 60,461.0 58,637.1 -1,823.9
District of Columbia 2,708.4 935.6 -1,772.8
Nevada 8,762.6 7,701.4 -1,061.2

GOODS BY COUNTRY, TOP DEFICITS AND SURPLUSES IN 2014

(Billions of Dollars)

TRADE IN CONSUMER GOODS

This space is used to present information on events that significantly impact trade, to highlight new or annual statistics or record levels of trade, or to report on trade in automotive or petroleum products, in manufactured goods, or with Free Trade Agreement partners.



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Source: U.S. Census Bureau | Economic Indicators | ftdwebmaster@census.gov |  Last Revised: February 05, 2015