10 The $346 billion deficit with China was created by $452 billion in imports. For total exports and imports, data users should refer to the by-commodity and by-service type totals shown in the other exhibits. Exports decreased $1.3 billion to $21.1 billion and imports increased $0.8 billion to $29.9 billion.  China continued to be the main supplier for U.S. imports of merchandise and was the third leading destination for U.S. exports. The increase in U.S. imports from China was led by increases in imports of computers, peripherals, and parts; toys and games; and miscellaneous plastic products. Table reflects only those months for which there was trade. Looking at the period 2008 to 2018, the EU had a trade in goods surplus (meaning larger exports than imports) with the United States. Forest Products In addition, U.S. imports of coffee and tea decreased $596 million (8.3 percent), driven by lower imports of these products from Canada, Vietnam, Colombia, and Brazil. Details may not equal totals due to rounding. Net balance of payments adjustments decreased $0.2 billion. Although not the target of the trade dispute, U.S. tariffs have precipitated drops in commodity prices, local currencies, and major stock exchanges. firstname.lastname@example.org. Several recurring reports are published annually as part of the Commission’s mission to provide independent tariff, trade, and competitiveness-related analysis and information.  (For more information about oilseeds exports to China, see the Agricultural Products and Special Topic chapters.). Country Shifts (Interactive Graphics) What are special provision exports and imports? The United States had a services trade surplus of an estimated $36 billion with China in 2019, down 4.1% from 2018. As of 2018, the United States had a trade deficit of about 616.8 billion U.S. dollars. (For more information, see the Energy-related Products, Transportation Equipment, and Chemicals and Related Products chapters. The repairs may be performed at the site of the repair facility or elsewhere. Monthly revisions: Each month, a preliminary estimate for the current month and a revised estimate for the immediately preceding month are released. What trade statistics are used? U.S. imports of footwear increased the least in both absolute and percentage terms, growing $927 million (3.6 percent) from 2017 to 2018. Imports of goods on a Census basis increased $200.8 billion. Macroeconomic Conditions in 2018 The biggest U.S. trade partners include China, Canada and Mexico. Adjustments for seasonal and trading-day variations. These products represent leading edge technology in that field. U.S. Trade by Industry Sector and Selected Trading Partners Why are your data different from other trade data? See "U.S. 70th Report . Operation of the Trade Agreements Program . A traveler is defined as a person who stays, or intends to stay, for less than one year in a country of which he or she is not a resident or as a nonresident whose purpose is to obtain education or medical treatment, no matter how long the stay. Imports from these three countries saw the largest increases during this period and accounted for about 42 percent of the total increase in the value of U.S. general imports. They rule on motions during the trial stage and, following the trial, make an initial determination as to whether a violation of section 337 exists. The trade relationship of the United States with Canada is the second largest in the world after China and the United States. Energy-related products and transportation equipment experienced the second- and third-largest increase in U.S. general imports, rising $38.4 billion (19.4 percent) and $24.9 billion (5.7 percent), respectively (table US.1).  USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). Imports of goods from all countries should be valued at the customs value—the value at the foreign port of export including inland freight charges. Trump orders “Section 301” probe into alleged Chinese intellectual property theft, described as his first direct trade measure against Beijing. Low-valued transactions: The total values of transactions valued as much as or below $2,500 for exports and $2,000 ($250 for certain quota items) for imports are estimated for each country, using factors based on the ratios of low-valued shipments to individual country totals for past periods. Meanwhile, U.S. exports of aircraft engines and gas turbines declined $766 million (7.7 percent), a decrease that was led by lower exports to countries including Saudi Arabia, Hungary, Singapore, and Canada. Share page. In accordance with the Government in the Sunshine Act of 1976, USITC fosters transparency by posting public notices of Commission meetings and hearings. For 2018, the goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017. Because the data series for aircraft is highly variable, users studying data trends may wish to analyze trade in aircraft separately from other trade. The U.S. monthly international trade deficit increased in October 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau.  IHS Markit, Global Trade Atlas database (HS subheadings 2709, 2010, and 2011, accessed July 30, 2019). Goods carry-over in December was $0.2 billion (0.1 percent) for exports and $0.2 billion (0.1 percent) for imports. Next release: March 27, 2019, at 8:30 A.M. EDT, U.S. International Trade in Goods and Services, January 2019. 2 Section 201 tariff-rate quotas for washing machines were effective February 7, 2018, for all countries except Canada and most Generalized System of Preferences (GSP) beneficiary countries (except Thailand). Total US investment in the EU is three times higher than in all of Asia. The full schedule is available in the Census Bureau's Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA's Web site at www.bea.gov/news/schedule. Business travel also includes expenditures by border, seasonal, and other short-term workers in their economy of employment. Services primarily include those for which an explicit commission or a fee is charged; implicit fees for bond transactions, measured as the difference between bid and ask prices, are also included.  USITC DataWeb/USDOC, digest AG030 (accessed March 15, 2019). However, this increase was tempered by a decrease in exports of two product groups within this sector—motor vehicles (down $1.2 billion, or 1.5 percent) and aircraft engines and gas turbines (down $766 million, or 7.7 percent) (table US.2). (For more information, see the Energy-related Products, Chemicals and Related Products, and Transportation Equipment chapters. The Census data only include gold that leaves the U.S. customs territory. Purchases can be either for own use or for gifts to others. Personal travel covers travel for all non-business purposes, including for medical or educational purposes. ... Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR): Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua. Cell phones and other household goods increased $0.6 billion. They will also help Egypt achieve its goal of becoming a regional energy hub, which is also priority for the United States.” For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. In 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. Share. For goods on a BOP basis and for services, European Union and OPEC reflect the composition of the areas at the time of reporting. Revision procedure (goods on a BOP basis and services). Transportation Equipment, Special Topic: Section 232 and 301 Trade Actions in 2018, Companion Data Set [XLSX] The 2018 increase in the goods and services deficit reflected an increase in the goods deficit of $83.8 billion, or 10.4 percent, to $891.3 billion and an increase in the services surplus of $15.0 billion, or 5.9 percent, to $270.2 billion. Civilian aircraft engines increased $7.9 billion. U.S. During the last five reported years the imports of United States changed by $245B from $2.16T in 2013 to $2.41T in 2018. Tariff Data for specific products, Tariff Programs, Agency Planning, Budget and Financial Reports, U.S. Trade by Industry Sector and Selected Trading Partners, Miscellaneous Tariff Bill (MTB) Information Page. Net balance of payments adjustments increased $1.4 billion. China Energy-related products showed the largest increase in U.S. total exports in terms of value, mostly due to an increase in export prices, while export volumes experienced a relatively small increase; specifically, the value of U.S. exports of energy-related products rose $51.6 billion (35.7 percent) in 2018. Strategic Plan. All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. The United States-Nepal Council on Trade and Investment, under the United States-Nepal Trade and Investment Framework Agreement (TIFA) View Full Release.  U.S. exports of soybeans (HTS 1201.90.0095) led the decrease in exports of oilseeds to China. Border Patrol History. Documents.  USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). Trade in services 2016-2018, € billions Year EU imports EU exports Balance; 2016: 192.5: 160.0-32.4: 2017: 194.7: 172.8-21.8: 2018: 196.2: 179.4-16.8 Monthly revisions: Monthly data include actual month's transactions as well as a small number of transactions for previous months. By 2018, it had increased to $418.9 billion, before falling to $345.2 billion in 2019. Exports increased $35.4 billion to $318.6 billion and imports increased $53.3 billion to $487.9 billion. Net balance of payments adjustments increased $0.6 billion. Covering more than 200 nations; over 400 airports, seaports and border crossings; and more than 900 export and 900 import commodities. (free alongside ship) value of merchandise at the U.S. port of export, based on the transaction price including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier at the U.S. port of exportation. Average imports decreased $0.4 billion to $263.7 billion in December. Financial services increased $0.1 billion. Euro Area: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain. The USITC conducts investigations on matters involving international trade and industry competitiveness. This increase in U.S. imports from Canada was partially offset by a decrease in imports of motor vehicles, lumber, and precious metals and non-numismatic coins. Unlike the seasonal adjustments by commodity and by service type that are applied to the global totals, these adjustments are developed and applied directly at the country and world area levels. This despite President Trump’s efforts to revive American manufacturing & reduce dependence on imported goods. Deductions for equipment repairs (parts and labor), developed motion picture film, military grant-aid, and, for periods prior to 2010, goods identified in the Census data as exports under the Foreign Military Sales (FMS) program. 2018 : U.S. trade in goods with Russia . Imports of goods on a Census basis increased $5.2 billion. Trade statistics in the Advance Report, released on average 24 to 26 calendar days after the end of the reference month, reflect nearly complete coverage of goods trade, while statistics in the FT-900, released on average 34 to 36 calendar days after the end of the reference month, reflect complete coverage. The Harmonized System describes and measures the characteristics of the goods and is the basis for the systems used in the United States: Schedule B for exports and Harmonized Tariff Schedule for imports. However, for the advance GDP estimate, FT-900 data for the third month are not yet available, so BEA uses data from the Advance Report. Further, U.S. exports of steel mill products were $954 million (7.1 percent) lower in 2018 than in 2017, driven by lower exports to Canada and Mexico. In particular, exports of oilseeds dropped $4.3 billion (19.9 percent), driven by a reduction in exports to China (table US.2). Sales of customized software and related use licenses, as well as licenses to use non-customized software with a periodic license fee, are also included, as is software downloaded or otherwise electronically delivered. The seasonally adjusted country and world area data will not sum to the seasonally adjusted by-commodity and by-service type totals because the two sets of statistics are derived from different aggregations of the export and import data and from different seasonal adjustment models.  USITC DataWeb/USDOC, digest EP005 (accessed March 15, 2019). USITC’s Strategic Plan, Budget, and Performance Reports, Information about the agency, the mission, & history, Administrative Law Judge (ALJ) biographies and photos, USITC’s Strategic Plan, Budget, and Annual Reports, USITC’s role and activities in conducting antidumping (AD), countervailing duty (CVD), and review (Five-year Sunset) and Global/Bilateral Safeguards investigations, A listing of Probable Effect Studies, Industry Assessments and Negotiation Background Information, Information about the USITC’s role and activities in conducting unfair import investigations under Section 337, Antidumping (AD), Countervailing Duty (CVD) and Safeguard Investigations. Imports were $3,121.0 billion, up $217.7 billion from 2017. Premium supplements represent investment income from insurance reserves, which are attributed to policyholders who are treated as paying the income back to the insurer. The Census Bureau provides these data to BEA for use in the NIPAs and in the U.S international transactions accounts (balance of payments accounts). Merchandise trade statistics data for United States (USA) exports, to partner countries including trade value, number of product exported, Partner Share, and share in total products for year 2018 2016 Trade Webinars Archive. The average goods and services deficit increased $1.5 billion to $55.5 billion for the three months ending in December. Such products constitute a significant part of all items covered in the selected classification code. Table reflects only those months for which there was trade. Business travel covers goods and services acquired for use by persons whose primary purpose for travel is for business (including goods and services for which business travelers are reimbursed by employers). Year-over-year, the average goods and services deficit increased $6.2 billion from the three months ending in December 2017. South Korea  USITC DataWeb/USDOC, digest EL003 (accessed March 15, 2019). - Includes goods and services supplied by and to enclaves, such as embassies, military bases, and international organizations; goods and services acquired from the host economy by diplomats, consular staff, and military personnel located abroad and their dependents; and services supplied by and to governments that are not included in other services categories. Documents may be lost, and data may be incorrectly keyed, coded, or recorded. Also, the seasonally adjusted goods data were revised for January through November so that the totals of the seasonally adjusted months equal the annual totals. December imports were $264.9 billion, $5.5 billion more than November imports. The International Trade Administration, U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. Exports increased $13.6 billion to $163.8 billion and imports increased $6.3 billion to $122.3 billion. Sound statistical and holistic economic analysis of the trade dispute’s consequences is difficult due to data limitations. Annual revisions: Each June, historical data are revised to incorporate newly available and revised source data, changes in definitions and classifications, and changes in estimation methods. U.S. International Trade in Goods, Balance of Payments Adjustments and in the January, April, July, and October issues of the Survey of Current Business.