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Tuesday, February 7, 2023 Services: (301) 278-9003 Goods: (301) 763-2311 2022 Trade Gap is $948.1 Billion U.S. international trade in goods and services The U.S. international trade deficit increased in 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $845.0 billion in 2021 to $948.1 billion in 2022, as imports increased more than exports. The goods deficit increased $101.5 billion in 2022 to $1,191.8 billion. The services surplus decreased $1.6 billion in 2022 to $243.7 billion. The goods and services deficit was 3.7 percent of currentdollar gross domestic product in 2022, up from 3.6 percent in 2021. Billion $ Annual Goods and Services Trade Deficit 2000–2022 1000 900 800 700 600 500 400 300 200 100 0 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 U.S. Bureau of Economic Analysis U.S. Census Bureau Exports Exports of goods and services increased $453.1 billion, or 17.7 percent, in 2022 to $3,009.7 billion. Exports of goods increased $324.2 billion and exports of services increased $128.9 billion. • The increase in exports of goods reflected increases in industrial supplies and materials ($190.9 billion), in capital goods ($51.0 billion), in consumer goods ($24.2 billion), in foods, feeds, and beverages ($15.3 billion), and in automotive vehicles, parts, and engines ($14.3 billion). • The increase in exports of services reflected increases in travel ($63.8 billion), in other business services ($26.5 billion), and in transport ($24.3 billion). Imports Imports of goods and services increased $556.1 billion, or 16.3 percent, in 2022 to $3,957.8 billion. Imports of goods increased $425.7 billion and imports of services increased $130.5 billion. • The increase in imports of goods reflected increases in industrial supplies and materials ($160.9 billion), in capital goods ($103.5 billion), in consumer goods ($76.3 billion), in automotive vehicles, parts, and engines ($52.0 billion), and in foods, feeds, and beverages ($26.1 billion). • The increase in imports of services reflected increases in travel ($56.5 billion) and in transport ($49.1 billion). For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, December and Annual 2022. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the February 7 news release, U.S. International Trade in Goods and Services, December and Annual 2022, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is March 8, 2023.
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