The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Wednesday, March 8, 2023 Services: 301-278-9003 Goods: 301-763-2311 2022 Trade Gap is $945.3 Billion U.S. international trade in goods and services The U.S. international trade deficit increased from $845.0 billion in 2021 to $945.3 billion in 2022 (revised), as imports increased more than exports. The goods deficit increased $100.7 billion to $1.19 trillion, and the services surplus increased $0.5 billion to $245.7 billion. The goods and services deficit was 3.7 percent of current-dollar gross domestic product in 2022, up from 3.6 percent in 2021. Exports of goods and services increased $455.2 billion, or 17.8 percent, in 2022 to $3.01 trillion. Exports of goods increased $324.5 billion, and exports of services increased $130.7 billion. • The increase in exports of goods reflected increases in industrial supplies and materials ($190.9 billion), in capital goods ($51.0 billion), and in consumer goods ($23.6 billion). • The increase in exports of services reflected increases in travel ($65.0 billion), in transport ($25.0 billion), and in other business services ($23.2 billion). Imports of goods and services increased $555.5 billion, or 16.3 percent, in 2022 to $3.96 trillion. Imports of goods increased $425.2 billion, and imports of services increased $130.3 billion. • The increase in imports of goods reflected increases in industrial supplies and materials ($160.7 billion), in capital goods ($103.5 billion), in consumer goods ($76.3 billion), and in automotive vehicles, parts, and engines ($52.0 billion). • The increase in imports of services reflected increases in travel ($58.1 billion) and in transport ($49.7 billion). Real, or inflation-adjusted, statistics are also available for trade in goods. The real goods deficit increased 7.2 percent in 2022, compared to a 9.8 percent nominal increase. Real exports of goods increased 5.9 percent, compared to a 17.7 percent nominal increase. Real imports of goods increased 6.4 percent, compared to a 14.7 percent nominal increase. 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 2023.” BEA statistics—including gross domestic product, 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. The next release of U.S. international trade in goods and services will be on April 5, 2023. U.S. Bureau of Economic Analysis and U.S Census Bureau, U.S. Department of Commerce
@FedFRASER