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.
1960
$3.508 billion
1961
$4.195 billion
1962
$3.370 billion
1963
$4.210 billion
1964
$6.022 billion
1965
$4.664 billion
1966
$2.939 billion
1967
$2.604 billion
1968
$250 million
1969
$91 million
1970
$2.254 billion
1971
-$1.302 billion
1972
-$5.443 billion
1973
$1.900 billion
1974
-$4.293 billion
1975
$12.404 billion
1976
-$6.082 billion
1977
-$24.246 billion
1978
-$29.763 billion
1979
-$24.565 billion
1980
-$19.407 billion
1981
-$16.172 billion
1982
-$24.156 billion
1983
-$57.767 billion
1984
-$109.072 billion
1985
-$121.880 billion
1986
-$138.538 billion
1987
-$151.684 billion
1988
-$114.566 billion
1989
-$93.141 billion
1990
-$80.864 billion
1991
-$31.135 billion
1992
-$39.212 billion
1993
-$40.311 billion
1994 -$98.493
billion
1995
-$96.384 billion
1996
-$104.065 billion
1997
-$108.273 billion
1998
-$168.140 billion
1999
-$258.617 billion
2000
-$372.517 billion
2001
-$361.511 billion
2002
-$418.955 billion
2003
-$493.890 billion
2004
-$609.883 billion
2005
-$714.245 billion
2006
-$761.716 billion
2007
-$705.375 billion
2008
–$708.726 billion
2009
-$383.774 billion
2010
-$495.225 billion
2011
-$549.699 billion
2012
-$537.408 billion
2013
-$451.135 billion
2014
-$489.584 billion
2015
-$498.525 billion
2016
-$502.001 billion
2017
-$552.277 billion
2018
-$622.106 billion
Comments
We will begin to see
our trade deficit decline as companies adjust to our Tariffs.
Norb Leahy, Dunwoody
GA Tea Party Leader
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