In services trade, the United States had a surplus with Mexico of $3.1 billion in 2019, down from $5.1 billion in 2018. U.S. services exports to Mexico totaled $32.9 billion in 2019, up from $14.2 billion in 1999, while imports increased from $9.7 billion in 1999 to $29.8 billion in 2019.
Does the United States have a trade surplus or deficit?
In 2019, U.S. merchandise exports were $1.65 trillion; imports were $2.52 trillion; and the merchandise trade deficit was $864 billion on a balance of payments basis, with a services surplus of $287 billion, as indicated in Figure 1.
What does the United States trade with Mexico?
Mexico is the United States’ second largest trading partner and second-largest export market (after Canada). In 2019, two-way trade in goods totaled $614.5 billion. Other top U.S. exports to Mexico include machinery, electrical machinery, vehicles, mineral fuels, and plastics.
Which countries does the US have a trade deficit with?
Year-to-Date Deficits
| Rank | Country | Deficit |
|---|---|---|
| 1 | China | -158.5 |
| 2 | Mexico | -52.9 |
| 3 | Vietnam | -42.1 |
| 4 | Germany | -33.5 |
What country does the U.S. have the worst trade balance with?
The largest deficit in goods in the United States is with China. In fact, over 65% of the trade deficit – or $419 billion – is because of imports from China. The main imports that the US purchased from China include clothing, machinery, and electronics. The United States also has a trade deficit with Mexico.
Has the US ever had a trade surplus?
The US last had a trade surplus in 1975.
Why the United States and Mexico have a strong trade relationship?
The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico’s proximity, the extensive cultural and economic ties between the two countries, and the strong economic relationship that developed over the past 26 years under the North American Free Trade Agreement (NAFTA).
What is the US trade deficit with Mexico?
The United States also has a trade deficit with Mexico. This deficit is significantly smaller than that of China’s at just $81 billion. The U.S. has imported $346 billion worth of goods from Mexico, including vehicles and auto parts. A trade deficit of $68.2 billion with Germany is the third largest trade deficit of the U.S.
What is the trade surplus between Mexico and the US?
Others include: China, Japan and Germany. In 2017, trade between Mexico and the United States reached USD 522 billion, with Mexico posting a surplus of near USD 132 billion.
How big is the US trade deficit with Canada?
The United States Has a Deficit With Its NAFTA Partners. Canada, the United States, and Mexico are partners in the world’s largest trade agreement, the North American Free Trade Agreement. The trade deficit with Canada is $18 billion. That’s only 3 percent of the total Canadian trade of $582 billion.
Which is the second largest trade deficit in the world?
Canada, the United States, and Mexico are partners in the world’s largest trade agreement, the North American Free Trade Agreement. The second-largest U.S. trade deficit is with Mexico at $81 billion. Exports are $265 billion, mostly auto parts and petroleum products.
