Where Data Tells the Story
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The US typically imports more than it exports. In 2023, the US imported $1 trillion more in goods than it exported, marking the sixth straight year of a trade deficit in the trillions (adjusting for inflation).
In two-thirds of its trade relationships with at least $10 billion in two-way trade, the US imported more than it exported — a trade deficit.
The highest trade deficits were with China ($279 billion), Mexico ($152 billion), and Vietnam ($105 billion).
Of course, that means that with one-third of trade partners, the US exported more than it imported, creating a trade surplus. The US had its largest surpluses with the Netherlands ($43 billion), Hong Kong ($24 billion), the United Arab Emirates ($18 billion), and Australia ($18 billion).