US Trade Deficit Update

In 2018, the US Trade Deficit with China was $416.5274 billion. In 2019, the US Trade Deficit with China is $231.576 billion for January through August 2019. The average for 2019 is $28.947 billion per month.  If the average remains the same, the US Trade Deficit with China is estimated at $347.364 billion, a reduction of $69.1634 billion.

The US Trade Deficit or Surplus History from 1960 to 2018 is listed by year below.

From 1960 to 1971, the US exported more than it imported and had Trade Surpluses and no Trade Deficits. The US had taken over manufacturing after World War II and dominated global manufacturing from 1945 to 1971.

In 1971, the US began to run Trade Deficits along with a few trade surpluses. Germany and Japan began manufacturing cars and production equipment and gained US market share. US companies were required to open manufacturing plants in foreign countries to make products for consumption in those countries. 

In 1983, the US trade deficit doubled from $24 billion to $58 billion and rose to $109 billion in 1984.

In 1998, the US Trade Deficit reached $259 billion. By 2000, the US trade deficit was $372.5 billion. In 2018, the US trade deficit was $622 billion.

US Trade Deficit or Surplus by Year from 1960 to 2018

1960 $3.508 billion surplus

1961 $4.195 billion surplus

1962 $3.370 billion surplus

1963 $4.210 billion surplus

1964 $6.022 billion surplus

1965 $4.664 billion surplus

1966 $2.939 billion surplus

1967 $2.604 billion surplus

1968 $250.635 billion surplus

1969 $91.607 billion surplus

1970 $2.254 billion surplus

1971 -$1.302 billion deficit

1972 -$5.443 billion deficit

1973 $1.900 billion surplus

1974 -$4.293 billion deficit

1975 $12.404 billion surplus

1976 -$6.082 billion deficit

1977 -$24.246 billion deficit

1978 -$29.763 billion deficit

1979 -$24.565 billion deficit

1980 -$19.407 billion deficit

1981 -$16.172 billion deficit

1982 -$24.156 billion deficit

1983 -$57.767 billion deficit

1984 -$109.072 billion deficit

1985 -$121.880 billion deficit

1986 -$138.538 billion deficit

1987 -$151.684 billion deficit

1988 -$114.566 billion deficit

1989 -$93.141 billion deficit

1990 -$80.864 billion deficit

1991 -$31.135 billion deficit

1992 -$39.212 billion deficit

1993 -$40.311 billion deficit

1994 -$98.493 billion deficit

1995 -$96.384 billion deficit

1996 -$104.065 billion deficit

1997 -$108.273 billion deficit

1998 -$168.140 billion deficit

1999 -$258.617 billion deficit

2000 -$372.517 billion deficit

2001 -$361.511 billion deficit

2002 -$418.955 billion deficit

2003 -$493.890 billion deficit

2004 -$609.883 billion deficit

2005 -$714.245 billion deficit

2006 -$761.716 billion deficit

2007 -$705.375 billion deficit

2008 –$708.726 billion deficit

2009 -$383.774 billion deficit

2010 -$495.225 billion deficit

2011 -$549.699 billion deficit

2012 -$537.408 billion deficit

2013 -$451.135 billion deficit

2014 -$489.584 billion deficit

2015 -$498.525 billion deficit

2016 -$502.001 billion deficit

2017 -$552.277 billion deficit

2018 -$622.106 billion deficit

https://www.census.gov/foreign-trade/statistics/historical/gands.pdf

https://www.thestreet.com/politics/national-debt-year-by-year-14876008

Norb Leahy, Dunwoody GA Tea Party Leader