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This statistic shows the United States goods trade deficit with China from 2013 to 2023. In 2023, the value of U.S. imports from China exceeded the exports to China by around 279.4 billion...
The deficit with China decreased $102.9 billion to $279.4 billion in 2023. Exports decreased $6.2 billion to $147.8 billion and imports decreased $109.1 billion to $427.2 billion. The deficit with Canada decreased $12.2 billion to $67.9 billion in 2023.
2023 : U.S. trade in goods with China . NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Details may not equal totals due to rounding. Table reflects only those months for which there was trade.
The United States also has a significant trade deficit with Mexico. This deficit is smaller than that of China’s at $152 billion. The U.S. has imported $475 billion worth of goods from Mexico in 2023, including vehicles and auto parts.
China trade balance for 2023 was $386.04B, a 33.19% decline from 2022. China trade balance for 2022 was $577.85B, a 25.39% increase from 2021. China trade balance for 2021 was $460.83B, a 29.76% increase from 2020. China trade balance for 2020 was $355.15B, a 167.45% increase from 2019.
The US continues to have the worst goods trade deficit with China plus Hong Kong, which we now treat as one country. Nevertheless, in 2023, the goods trade deficit improved to the “least horrible” level since 2010: Imports of goods from them: -$110 billion, or -20.3%, to $431 billion, lowest since 2012.
China’s widening trade surplus and the growing US trade deficit since the pandemic have renewed concerns about global imbalances and fueled an intense debate on their causes and consequences.
U.S. trade balance for 2022 was $-971.12B, a 13.15% increase from 2021. U.S. trade balance for 2021 was $-858.24B , a 37.01% increase from 2020. U.S. trade balance for 2020 was $-626.39B , a 8.28% increase from 2019.
The December increase in the goods and services deficit reflected an increase in the goods deficit of $0.7 billion to $89.1 billion and an increase in the services surplus of $0.4 billion to $26.9 billion. For 2023, the goods and services deficit decreased $177.8 billion, or 18.7 percent, from 2022. Exports increased $35.0 billion or 1.2 percent.
In 2022, China’s merchandise trade surplus stood at close to 900 billion U.S. dollars, of which more than 400 billion came from trade with the United States. Benefiting from China’s...