Quick Answer: Which country has the largest trade deficit with the United States?

Rank Country Deficit
1 China -26.3
2 Mexico -9.6
3 Vietnam -6.8
4 Germany -6.3

What country has the largest trade deficit with the US?

The Largest U.S. Deficit Is With China

More than 42.1% of the U.S. trade deficit in goods is with China. 10 The $346 billion deficit with China was created by $452 billion in imports.

What country has the largest trade deficit?

Top 20 countries with the largest deficit

Rank Country Year
1 United States 2017 EST.
2 United Kingdom 2019 Q3 Only
3 India 2018-19 EST.
4 Canada 2017 EST.

Does the US have the largest trade deficit in history?

The current record trade deficit was set in 2018, at $878.68 billion. That was, in fact, a record year for trade, the first above $4 trillion. But U.S. trade, while remaining above $4 trillion in 2019, fell — and the deficit fell to $853.23 billion.

Which countries does the US have a trade surplus with?

These are the biggest U.S. trade partners

  • China – $636 billion.
  • Canada – $582.4 billion.
  • Mexico – $557 billion.
  • Japan – $204.2 billion.
  • Germany – $171.2 billion.
  • South Korea – $119.4 billion.
  • United Kingdom – $109.4 billion.
  • France – $82.5 billion.
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7 мар. 2018 г.

Why is US trade deficit so high?

The large U.S. trade deficit is fundamentally driven by larger economic factors — like the fact Americans spend more than they save and have to borrow from abroad to finance the difference, Lovely said. Trump’s $1.5 trillion tax cut in 2017 contributed to that problem by running up the U.S. budget deficit.

What does US import the most?

What Are the Major U.S. Imports?

  • Machinery (including computers and hardware) – $386.4 billion.
  • Electrical machinery – $367.1 billion.
  • Vehicles and automobiles – $306.7 billion.
  • Minerals, fuels, and oil – $241.4 billion.
  • Pharmaceuticals – $116.3 billion.
  • Medical equipment and supplies – $93.4 billion.

17 дек. 2019 г.

Which country has most debt?

24 nations with highest external debt; How much does India owe?

  1. The United States. External debt: $20,263.7 billion.
  2. Euro area. External debt: $16,723.2 billion. …
  3. United Kingdom. External debt: $8,491.4 billion. …
  4. France. External debt: $6,470.5 billion.
  5. Germany. External debt: $5,800.9 billion. …
  6. Luxembourg. External debt: $4,252.7 billion. …
  7. Japan. External debt: $4,243.6 billion.
  8. Netherlands. …

27 нояб. 2020 г.

What country has the best trade?

Year-to-Date Total Trade

Rank Country Exports
Total, All Countries 1,578.9
Total, Top 15 Countries 1,078.7
1 Canada 300.3
2 China 122.0

Has the US ever had a trade surplus?

The US last had a trade surplus in 1975.

Is the US trade deficit growing or shrinking?

The trade deficit dropped 1.7% to $616.8 billion last year, declining for the first time since 2013. That represented 2.9% of GDP, down from 3.0% in 2018. Goods imports plunged 1.7% last year, also the first decrease in three years.

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What is America’s trade deficit?

The gap between the value of the goods and services the United States sells abroad and what it buys climbed from $577 billion in 2019, the Commerce Department said Friday. Exports skidded 15.7% to $2.1 trillion, and imports fell 9.5% to $2.8 trillion.

What is America’s trade deficit with China?

The politically sensitive deficit in the trade of goods with China fell 6.7% to $26.4 billion. So far this year, the United States has recorded a trade gap of $421.8 billion, up 5.7% from January-August 2019.

What is US biggest export?

Services are the biggest US export, with total foreign sales of $778 billion last year. … These are the service industries that bring in the most money: Travel and transportation: $236 billion.

Who is China’s biggest trading partner?

China’s Top Trading Partners

  • United States: US$418.6 billion (16.8% of China’s total exports)
  • Hong Kong: $279.6 billion (11.2%)
  • Japan: $143.2 billion (5.7%)
  • South Korea: $111 billion (4.4%)
  • Vietnam: $98 billion (3.9%)
  • Germany: $79.7 billion (3.2%)
  • India: $74.9 billion (3%)
  • Netherlands: $73.9 billion (3%)

8 февр. 2021 г.

Who is the largest US exporter?

Seven among America’s largest export-related companies increased their year-over-year sales as of December 2019.

  • Apple: US$267.7 billion, up 8.2% from 2018.
  • ExxonMobil: $256 billion, up 11.3%
  • Ford Motor: $149.9 billion, down -6.1%
  • Chevron: $140.1 billion, up 0.5%
  • General Motors: $137.2 billion, down -5%

26 авг. 2020 г.

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