The US trade deficit jumped to $63.6 billion in July of 2020 from a downwardly revised $53.5 billion gap in June and above market forecasts of a USD 58 billion deficit. It is the highest trade gap since July of 2008, reflecting an increase in the goods deficit of $9.3 billion to $80.9 billion and a decrease in the services surplus of $0.8 billion to $17.4 billion, the lowest since 2012. Both exports and imports increased in July but remained below pre-pandemic levels, reflecting the ongoing impact of COVID-19, as many businesses continued to operate at limited capacity or ceased operations completely, and the movement of travelers across borders remained restricted. Exports went up 8.1% to $168.1 billion, boosted by sales of cars, crude oil, semicondutors and diamonds. Imports surged 10.9% to $231.7 billion, mainly due to cars, auto parts, civilian aircrafts, cell phones and finished metal shapes.

Balance of Trade in the United States averaged -15254.67 USD Million from 1950 until 2020, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -68277 USD Million in August of 2006. This page provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Bureau of Economic Analysis (BEA)