The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Annual 2020 Press Highlights All values in billions of dollars. Goods and services BOP series, beginning with 1960 statistics. Goods and Services (BOP Basis) Annual 2020 Annual 2019 Percent Change from Prior Year Larger Increase or Decrease by Percent Change / When it Occurred Goods and Services Balance -678.7 -576.9 17.7 27.4 2009-2010 Exports 2,131.9 2,528.3 -15.7 n/a No larger decrease on record. Imports 2,810.6 3,105.1 -9.5 -22.4 2008-2009 Goods (BOP Basis) Balance -915.8 -864.3 6.0 10.1 2017-2018 Exports 1,434.8 1,652.4 -13.2 -18.2 2008-2009 Imports 2,350.6 2,516.8 -6.6 -26.2 2008-2009 Annual 2020 Annual 2019 Dollar Change from Prior Year Larger Increase or Decrease by Dollar Change / When it Occurred Goods and Services Balance -678.7 -576.9 -101.9 -108.3 2009-2010 Exports 2,131.9 2,528.3 -396.4 n/a No larger decrease on record. Imports 2,810.6 3,105.1 -294.5 -574.4 2008-2009 Goods (BOP Basis) Balance -915.8 -864.3 -51.5 -81.0 2017-2018 Exports 1,434.8 1,652.4 -217.7 -238.5 2008-2009 Imports 2,350.6 2,516.8 -166.2 -561.3 2008-2009 n/a Not available * The 2020 goods and services deficit ($678.7 billion) was the highest since 2008 ($712.4 billion). * The 2020 goods deficit ($915.8 billion) was the highest on record. * The 2020 services surplus ($237.1 billion) was the lowest since 2012 ($215.2 billion). * 2020 exports of goods and services ($2.1 trillion) were the lowest since 2010 ($1.9 trillion). * 2020 exports of goods ($1.4 trillion) were the lowest since 2010 ($1.3 trillion). * 2020 exports of services ($697.1 billion) were the lowest since 2012 ($684.8 billion). * 2020 imports of goods and services ($2.8 trillion) were the lowest since 2016 ($2.7 trillion). * 2020 imports of goods ($2.4 trillion) were the lowest since 2016 ($2.2 trillion). * 2020 imports of services ($460.1 billion) were the lowest since 2011 ($458.2 billion). Goods on a Census Basis Balance * The 2020 goods deficit ($904.9 billion) was the highest on record. (1) * The 2020 petroleum surplus ($18.1 billion) was the first annual surplus on record. * The 2020 non-petroleum deficit ($923.0 billion) was the highest on record. Exports * * * * * * 2020 exports of goods ($1.4 trillion) were the lowest since 2010 ($1.3 trillion). 2020 exports of foods, feeds, and beverages ($139.8 billion) were the highest since 2014 ($143.7 billion). 2020 exports of capital goods ($460.4 billion) were the lowest since 2010 ($447.5 billion). 2020 exports of automotive vehicles, parts, and engines ($127.2 billion) were the lowest since 2010 ($112.0 billion). 2020 exports of consumer goods ($174.9 billion) were the lowest since 2010 ($165.2 billion). 2020 exports of other goods ($58.9 billion) were the lowest since 2013 ($58.3 billion). Imports * * * * * 2020 imports of goods ($2.3 trillion) were the lowest since 2016 ($2.2 trillion). 2020 imports of industrial supplies and materials ($479.2 billion) were the lowest since 2016 ($443.3 billion). 2020 imports of foods, feeds, and beverages ($154.4 billion) were the highest on record. 2020 imports of automotive vehicles, parts, and engines ($310.7 billion) were the lowest since 2013 ($308.8 billion). 2020 petroleum imports ($116.4 billion) were the lowest since 2002 ($103.5 billion). Real Dollar Basis (Chained 2012 Dollars, seasonally adjusted) * * * * The 2020 real dollar goods deficit ($1.0 trillion) was the highest on record. 2020 real dollar exports of goods ($1.6 trillion) were the lowest since 2013 ($1.6 trillion). 2020 real dollar imports of petroleum ($305.7 billion) were the lowest on record. 2020 real dollar exports of petroleum ($273.9 billion) were the highest on record. Country and Other Highlights * * * * * * The 2020 deficit with the European Union ($182.2 billion) was the highest on record. The 2020 deficit with Mexico ($112.7 billion) was the highest on record. The 2020 deficit with the Taiwan ($30.0 billion) was the highest on record. The 2020 surplus with the United Kingdom ($8.8 billion) was the highest on record. The 2020 surplus with Singapore ($3.8 billion) was the highest on record. The U.S. had record exports to 8 countries in 2020 led by Pakistan ($2.9 billion), Hungary ($2.1 billion), and Niger ($143.9 million). * The U.S. had record imports from 30 countries in 2020 led by Vietnam ($79.6 billion), Switzerland ($74.8 billion), and Ireland ($65.5 billion). * The 2020 import average price per barrel of crude oil ($36.64) was the lowest since 2016 ($35.60). (1) Based on the current definition of the petroleum series which was established in 1978. NOTE: Based on the February 5, 2021, U.S. International Trade in Goods and Services, December 2020 report, released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.