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Tuesday, March 7, 2017 Services: Jeannine Aversa, (301) 278-9003 Goods: Mala Kline, (301) 763-2311 2016 Trade Gap is $500.6 Billion U.S. international trade in goods and services The U.S. international trade deficit increased in 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $500.4 billion in 2015 to $500.6 billion in 2016, as exports decreased more than imports. As a percentage of U.S. gross domestic product, the goods and services deficit was 2.7 percent in 2016, down from 2.8 percent in 2015. The goods deficit decreased from $762.6 billion in 2015 to $749.9 billion in 2016, and the services surplus decreased from $262.2 billion in 2015 to $249.4 billion in 2016. Balance on Goods and Services Trade 1996-2016 Billion $ 0 -100 -200 -300 -400 -500 -600 -700 -800 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 U.S. Bureau of Economic Analysis U.S. Census Bureau Exports Exports of goods and services decreased $49.1 billion, or 2.2 percent, in 2016 to $2,212.1 billion. Exports of goods decreased $50.6 billion and exports of services increased $1.6 billion. • The largest decreases in exports of goods were in industrial supplies and materials ($28.2 billion) and in capital goods ($20.1 billion). • The largest increases in exports of services were in other business services ($6.0 billion) and in maintenance and repair services ($2.4 billion). Imports Imports of goods and services decreased $48.9 billion, or 1.8 percent, in 2016 to $2,712.6 billion. Imports of goods decreased $63.3 billion and imports of services increased $14.4 billion. • The largest decreases in imports of goods were in industrial supplies and materials ($42.0 billion), in capital goods ($12.1 billion), and in consumer goods ($10.5 billion). • The largest increases in imports of services were in travel (for all purposes including education) ($8.7 billion) and in charges for the use of intellectual property ($3.2 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: January 2017. 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 March 7 news release, U.S. International Trade in Goods and Services: January 2017, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is April 4, 2017.