| 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?
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.
7 мар. 2018 г.
What is the United States 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.
Which country has most debt?
24 nations with highest external debt; How much does India owe?
- The United States. External debt: $20,263.7 billion.
- Euro area. External debt: $16,723.2 billion. …
- United Kingdom. External debt: $8,491.4 billion. …
- France. External debt: $6,470.5 billion.
- Germany. External debt: $5,800.9 billion. …
- Luxembourg. External debt: $4,252.7 billion. …
- Japan. External debt: $4,243.6 billion.
- Netherlands. …
27 нояб. 2020 г.
What 5 Nations does the US have the biggest trade deficit with?
Top Five Trade Partners
The two largest are China and Japan. Some of the largest deficits are with countries in the third category. They are Canada, Mexico, and Germany.
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.
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.
Has the US ever had a trade surplus?
The US last had a trade surplus in 1975.
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.
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.
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.
Is the US trade deficit bad?
In the simplest terms, a trade deficit occurs when a country imports more than it exports. A trade deficit is neither inherently entirely good or bad. A trade deficit can be a sign of a strong economy and, under certain conditions, can lead to stronger economic growth for the deficit-running country in the future.
Is US trade deficit a problem?
For many economists, however, the trade deficit has been scapegoated, and they argue that the trade deficit is not itself a problem for the U.S. economy. … This means that the U.S. pays little for its foreign borrowing, allowing it to finance its high consumption at low cost, which boosts global demand.