The U.S. trade deficit in goods and services increased 5.4 percent in December and was up 12.1 percent from 2016 to 2017, according to trade statistics released Feb. 6 by the Department of Commerce. The annual deficit was the highest since 2008.
Monthly statistics. The monthly trade deficit rose to $53.1 billion in December, the highest level in more than nine years. Exports were up 1.8 percent to a record $203.4 billion while imports also hit an all-time high, rising 2.5 percent to $256.5 billion.
The deficit in goods trade gained 3.7 percent to $73.3 billion in December. Imports of goods were up 2.9 percent to $210.8 billion, including increases of $1.8 billion in pharmaceutical preparations, $1.7 billion in cell phones and other household goods, and $1.1 billion in passenger cars. Exports of goods rose 2.5 percent to $137.5 billion, including increases of $800 million in civilian aircraft, $700 million in other industrial machines, and $200 million each in organic chemicals and fuel oil.
The services surplus was down 0.5 percent to $20.2 billion. Imports gained 0.7 percent to $45.7 billion and exports gained 0.2 percent to $65.9 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$34.0 billion
|
+1.5
|
|
|
|
European Union
|
$17.2 billion
|
+27.4
|
|
|
|
Mexico
|
$6.1 billion
|
+5.2
|
|
|
|
Germany
|
$5.7 billion
|
+7.5
|
|
|
|
Japan
|
$5.5 billion
|
-5.2
|
|
|
|
Italy
|
$3.7 billion
|
+32.1
|
|
|
|
India
|
$2.1 billion
|
-12.5
|
|
|
|
South Korea
|
$2.1 billion
|
+23.5
|
|
|
|
France
|
$2.1 billion
|
+61.5
|
|
|
|
Taiwan
|
$1.6 billion
|
+77.8
|
|
|
|
Canada
|
$1.4 billion
|
+27.3
|
|
|
|
Saudi Arabia
|
$0.6 billion
|
+200
|
|
|
|
South/Central America
|
|
|
$3.7 billion
|
+42.3
|
|
Hong Kong
|
|
|
$2.5 billion
|
+10.7
|
|
Brazil
|
|
|
$1.1 billion
|
+266.7
|
|
Singapore
|
|
|
$0.9 billion
|
-10.0
|
|
United Kingdom
|
|
|
$0.3 billion
|
-25.0
|
| |
|
|
|
|
Annual statistics. For all of 2017 the U.S. trade deficit totaled $566.0 billion, up $61.2 billion from 2016. Exports rose 5.5 percent to $2.33 trillion and imports gained 6.7 percent to $2.90 trillion.
The goods deficit increased 7.6 percent to $810.0 billion. Exports were up 6.6 percent to $1.55 trillion, including increases of $12.4 billion in crude oil, $8.7 billion in other petroleum products, $8.6 billion in fuel oil, $6.6 billion in other industrial machines, and $4.4 billion in civilian aircraft engines. Imports were up 6.9 percent to $2.36 trillion, including gains of $31.0 billion in crude oil, $9.5 billion in cell phones and other household goods, $8.1 billion in computers, and $7.4 billion in other industrial machines.
The services surplus fell 1.5 percent to $244.0 billion. Exports increased 3.4 percent to $777.9 billion while imports rose 5.8 percent to $533.9 billion.
The deficit was 2.9 percent of gross domestic product in 2017, up from 2.7 percent in 2016.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$375.2 billion
|
+8.1
|
|
|
|
European Union
|
$151.4 billion
|
+3.5
|
|
|
|
Mexico
|
$71.1 billion
|
+12.5
|
|
|
|
Japan
|
$68.8 billion
|
-0.1
|
|
|
|
Germany
|
$64.3 billion
|
-0.9
|
|
|
|
Ireland
|
$38.1 billion
|
+9.2
|
|
|
|
Italy
|
$31.6 billion
|
+10.9
|
|
|
|
Malaysia
|
$24.6 billion
|
-0.8
|
|
|
|
South Korea
|
$22.9 billion
|
-17.3
|
|
|
|
India
|
$22.9 billion
|
-5.8
|
|
|
|
Thailand
|
$20.4 billion
|
+7.9
|
|
|
|
Canada
|
$17.6 billion
|
+57.1
|
|
|
|
France
|
$15.3 billion
|
-3.2
|
|
|
|
Switzerland
|
$14.3 billion
|
+4.4
|
|
|
|
Taiwan
|
$13.6 billion
|
_25.6
|
|
|
|
Indonesia
|
$13.3 billion
|
+0.8
|
|
|
| |
|
|
|
|
|
South & Central America
|
|
|
$34.3 billion
|
+19.1
|
|
Hong Kong
|
|
|
$32.5 billion
|
+18.2
|
|
Netherlands
|
|
|
$24.5 billion
|
+1.2
|
|
Belgium
|
|
|
$14.8 billion
|
-3.3
|
|
Australia
|
|
|
$14.6 billion
|
+15.0
|
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