What is the value of US trade?
Data updated February 24, 2025
$3.19 trillion in exports and $4.11 trillion in imports in 2024. According to the Office of the US Trade Representative, trade fuels economic growth, supports domestic jobs, raises living standards, and makes goods and services more affordable.
$3.19T
value of exports from US (2024)
$4.11T
value of imports to US (2024)
US sales abroad are exports and US purchases from abroad are imports. When the nation imports more than it exports, it's called a trade deficit. The US has consistently had a trade deficit from 1992 to 2024. It was as low as $831.0 million in February 1992 and as high as $101.9 billion in March 2022.
In December 2024, imports ($364.9 billion) were 36.9% higher than exports ($266.5 billion). The 2024 trade deficit as of December was at $918.4 billion.
In December 2024, the US imported $364.9 billion in goods and services and exported $266.5 billion.
Monthly trade balance, seasonally adjusted. Not adjusted for inflation
The US has trade relations with more than 200 countries, territories, and regional associations. When adding the value of imports and exports, Canada, Mexico, and China have been the top three trading partners with the US since 2004. China went from being the sixth top trading partner in 1999 to the first throughout 2016 to 2018. As of 2023, it is third after Canada and Mexico.
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The nation’s top six partners accounted for 49.2% of all US trade in 2023.
Share of total trade value (imports + exports) by country
The nation's top import in 2023 was capital goods, meaning goods used in the production process, like machinery or tools. The US imported $865 billion in capital goods, 17% of which were purchased from China and another 17% from Mexico. About 28%, or $210.2 billion, of consumer goods were imported from China. Consumer goods are goods and services purchased for personal use, like clothing and cellphones.
In addition, 32.9% of industrial supplies, meaning items needed for operating a factory, come from Canada. Mexico accounted for 37.8% of automotive vehicles and parts.
Imports from Canada, Mexico, and China accounted for 37.8% of US imports in 2023.
Top 10 US imports by top trading partners and other countries (2023)
The nation’s top export in 2023 was industrial supplies. The US exported $719.6 billion in industrial supplies, 17.5% of which were purchased by Mexico and another 14.6% by Canada. About 16.6%, or $100.3 billion, of goods used in the production process, like machinery or tools, were exported to Mexico.
In addition, 37.9% of automotive vehicles and parts went to Canada.
Canada, Mexico, and China received 32.7% of total US exports in 2023.
Top 10 US exports by top trading partners and other countries (2023)
Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
US Bureau of Economic Analysis
International Transactions
