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Annual Trade Highlights

2014 Press Highlights

This page shows the Balance, Exports and Imports for the current month and prior month, 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

  2014 (Billions of $)

2013 (Billions of $)

Percent Change from Prior Year Last time the Increase/Decrease in Percent Change was larger/When it Occured
Goods and Services
Balance -$505.0 -$476.4 6.0% 10.9% from 2010-2011
Exports $2,345.4 $2,280.2 2.9% 2.9% from 2012-2013
Imports $2,850.5 $2,756.6 3.4% 13.9% from 2010-2011
Goods (BOP Basis)
Balance -$736.8 -$701.7 5.0% 14.2% from 2010-2011
Exports $1,635.1 $1,592.8 2.7% 4.2% from 2011-2012
Imports $2,371.9 $2,294.5 3.4% 15.5% from 2010-2011

 

Dollar Change From Prior Year

  2014 (Billions of $)

2013 (Billions of $)

Dollar Change From Prior Year Last time the Increase/Decrease in Dollar Change was larger/When it Occured
Goods and Services
Balance -$505.0 -$476.4 -$28.7 -$54.0 from 2010-2011
Exports $2,345.4 $2,280.2 $65.2 $89.5 from 2011-2012
Imports $2,850.5 $2,756.6 $93.9 $327.4 from 2010-2011
Goods (BOP Basis)
Balance -$736.8 -$701.7 -$35.2 -$92.0 from 2010-2011
Exports $1,635.1 $1,592.8 $42.3 $62.4 from 2011-2012
Imports $2,371.9 $2,294.5 $77.5 $300.9 from 2010-2011

  • 2014 exports of goods and services ($2.3 trillion), exports of goods ($1.6 trillion), and exports of services ($710.3 billion) were the highest on record.
  • 2014 imports of goods and services ($2.9 trillion), imports of goods ($2.4 trillion), and imports of services ($478.5 billion) were the highest on record.
  • The 2014 services surplus ($231.8 billion) was the highest on record.

Goods on a Census Basis

Balance

  • The 2014 petroleum deficit ($188.4 billion) was the lowest since 2004 ($163.4 billion).
  • The 2014 non-petroleum deficit ($534.1 billion) was the highest since 2006 ($557.1 billion).

Exports

  • 2014 exports of goods ($1.6 trillion) were the highest on record.
  • 2014 exports of foods, feeds, and beverages ($144.2 billion); capital goods ($550.0 billion); automotive vehicles ($159.5 billion); and consumer goods ($199.2 billion) were the highest on record.
  • 2014 exports of petroleum ($145.7 billion) were the highest on record.
  • 2014 non-petroleum exports ($1.5 trillion) were the highest on record.

Imports

  • 2014 imports of goods ($2.3 trillion) were the highest on record.
  • 2014 imports of food, feeds, and beverages ($125.8 billion); capital goods ($591.4 billion); automotive vehicles ($327.8 billion); and consumer goods ($558.0 billion) were the highest on record.
  • 2014 imports of petroleum ($334.1 billion) were the lowest since 2009 ($253.7 billion).
  • 2014 non-petroleum imports ($2.0 trillion) were the highest on record.

Real Dollar Basis (2009 Chain-weighted Dollars)

  • The 2014 real dollar petroleum deficit ($114.0 billion) was the lowest on record.
  • The 2014 real dollar non-petroleum deficit ($551.8 billion) was the highest on record.

Country and other highlights

  • The 2014 deficit with China ($342.6 billion) was the highest on record.
  • The 2014 deficit with the European Union ($141.1 billion) was the highest on record.
  • The 2014 deficit with Mexico ($53.8 billion) was the lowest since 2009 ($47.8 billion).
  • The 2014 surplus with South and Central America ($34.4 billion) was the highest on record.
  • The 2014 deficit with South Korea ($25.1 billion) was the highest on record.
  • The 2014 surplus with Singapore ($14.1 billion) was the highest on record.
  • The 2014 quantity of crude oil imports (2.7 billion barrels) was the lowest since 1993 (2.5 billion barrels).
  • The 2014 import average price per barrel of crude oil ($91.23) was the lowest since 2010 ($74.67).

February 2015
Trade Numbers

Deficit: $35.4 Billion
Exports: $186.2 Billion
Imports: $221.7 Billion

Next release: May 5, 2015
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Source: U.S. Census Bureau | Foreign Trade | ftdwebmaster@census.gov |  Last Revised: February 05, 2015