The U.S. trade deficit in goods and services soared 27.0 percent in 2021 as both imports and exports saw significant increases amid a resurgence in the domestic and global economies. A Reuters article said the U.S. saw record imports from 70 countries along with record exports to 57 countries.
Annual statistics. For all of 2021 the U.S. trade deficit totaled $859.1 billion, up from $678.7 billion in 2020. Exports jumped 18.5 percent to $2.53 trillion and imports gained 20.5 percent to $3.39 trillion. Both were higher for the first time in three years.
The goods deficit was up 18.3 percent to a record-high $1.09 trillion. Exports rose 23.3 percent to an all-time high of $1.76 trillion, including increases of $25.9 billion in foods, feeds, and beverages, $25.2 billion in other petroleum products, and $24.1 billion in pharmaceutical preparations. Imports gained 21.3 percent to a record $2.85 trillion, including increases of $56.3 billion in crude oil, $27.8 billion in foods, feeds, and beverages, and $20.8 billion in auto parts and accessories.
The services surplus fell 5.6 percent to $231.5 billion. Exports gained 8.6 percent to $766.6 billion while imports rose 16.2 percent to $535.0 billion.
The goods and services deficit was 3.7 percent of gross domestic product in 2021, up from 3.2 percent in 2020.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$355.3 billion
|
+14.3
|
|
|
|
European Union
|
$219.6 billion
|
+19.7
|
|
|
|
Mexico
|
$108.2 billion
|
-4.0
|
|
|
|
Germany
|
$70.1 billion
|
+22.3
|
|
|
|
Ireland
|
$60.2 billion
|
+7.7
|
|
|
|
Japan
|
$60.2 billion
|
+8.7
|
|
|
|
Canada
|
$49.0 billion
|
+230.0
|
|
|
|
Malaysia
|
$41.0 billion
|
+29.3
|
|
|
|
Taiwan
|
$40.2 billion
|
+34.4
|
|
|
|
Italy
|
$39.3 billion
|
+33.2
|
|
|
|
Switzerland
|
$39.0 billion
|
-31.2
|
|
|
|
Thailand
|
$34.7 billion
|
+31.4
|
|
|
|
India
|
$33.1 billion
|
+39.1
|
|
|
|
South Korea
|
$29.2 billion
|
+17.7
|
|
|
|
France
|
$20.3 billion
|
+30.1
|
|
|
|
Indonesia
|
$17.6 billion
|
+37.5
|
|
|
|
South/Central America
|
|
|
$53.6 billion
|
+34.7
|
|
Hong Kong
|
|
|
$25.8 billion
|
+60.2
|
|
Netherlands
|
|
|
$18.2 billion
|
+0.6
|
|
Brazil
|
|
|
$15.6 billion
|
+33.3
|
|
Australia
|
|
|
$14.0 billion
|
+53.8
|
|
Belgium
|
|
|
$12.7 billion
|
+89.6
|
Monthly statistics. The monthly trade deficit in goods and services was $80.7 billion in December 2021, up 1.8 percent from November and just shy of a record.
Imports rose 1.6 percent from November to December to $308.9 billion. Imports of goods were up 2.0 percent to a record-high $259.7 billion, including increases of $2.4 billion in cell phones and other household goods, $1.4 billion in passenger cars, and $1.0 billion in toys, games, and sporting goods. Imports of services fell 0.8 percent to $49.2 billion.
Exports were up 1.5 percent to $228.1 billion. Exports of goods rose 1.3 percent to $158.3 billion, including increases of $1.2 billion in non-monetary gold, $1.0 billion in pharmaceutical preparations, and $800 million in passenger cars. Services exports gained 2.0 percent to $69.9 billion.
For the month, the deficit in goods trade was up 3.3 percent to $101.4 billion while the services trade surplus gained 9.5 percent to $20.7 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$34.1 billion
|
+20.1
|
|
|
|
European Union
|
$16.3 billion
|
-16.0
|
|
|
|
Mexico
|
$11.0 billion
|
0
|
|
|
|
Germany
|
$5.3 billion
|
-13.1
|
|
|
|
Japan
|
$5.0 billion
|
+38.9
|
|
|
|
Canada
|
$4.2 billion
|
-22.2
|
|
|
|
India
|
$3.9 billion
|
_+30.0
|
|
|
|
Taiwan
|
$3.8 billion
|
-5.0
|
|
|
|
South Korea
|
$3.7 billion
|
+68.2
|
|
|
|
Italy
|
$3.1 billion
|
-13.9
|
|
|
|
France
|
$0.8 billion
|
-33.3
|
|
|
|
Saudi Arabia
|
$0.7 billion
|
+75.0
|
|
|
|
South/Central America
|
|
|
$5.4 billion
|
+20.0
|
|
Hong Kong
|
|
|
$1.9 billion
|
+18.8
|
|
Brazil
|
|
|
$1.2 billion
|
+20.0
|
|
Singapore
|
|
|
$0.8 billion
|
+166.7
|
|
United Kingdom
|
|
|
$0.6 billion
|
+20.0
|
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