Exports were $163.0 billion; imports were $471.8 billion. The second part is divided into five chapters: tariffs, trade agreements, non-tariff measures, trade defence measures, and exchange rates. STATISTICS. The 2019 U.S. trade balance is negative, showing a deficit of $617 billion. The United States imports more than it exports. 3 The US-China economic relationship A comprehensive approach impacts for U.S. and global industries, 2,3 and is expected to occur in more advanced industries The trade deficit exists because U.S. exports to China were only $106.4 billion while imports from China were $451.6 billion. In 2018, China exported a total of $2.59T, making it the number 1 exporter in the world. U.S. exports of agricultural products to China totaled $14 billion in 2019, the United States’ 3rd largest agricultural export market. Click here for more information. Total Trade [1] Total Exports (2019) $2,498,569,865,637. The U.S. goods trade deficit with China was $345.2 billion in 2019. The US has run deficits against the rest of the world for decades. The U.S. goods and services trade deficit with China was $308.8 billion in 2019. Exports of goods and services (% of GDP) (2019) [2] 18.42%. How damaging is the Huawei row for the US and China? us-china-trade-relationship. It was up roughly 463% from 2001 (pre-WTO accession). United States Trade Statistics. In 2019, China’s GDP was an estimated $14.1 trillion (curren. October imports of automotive vehicles, parts, and engines ($32.2 billion) were the highest since July 2019 ($32.4 billion). Overall exports and imports fell in both countries in the first ten months of … Foreign Trade shows what is coming in and what is going out. Published 29 May 2019. U.S. foreign direct investment (FDI) in China (stock) was $116.2 billion in 2019, a 6.3% increase from 2018. Please note that this archive is provided for research only. China was the United States' largest supplier of goods imports in 2019. The top import categories (2-digit HS) in 2019 were: electrical machinery ($125 billion); machinery ($92 billion); furniture and bedding ($27 billion); toys and sports equipment ($25 billion); and plastics ($18 billion). This guide provides a comprehensive overview and guide to resources on trade between the U.S. and China and the large trade deficit arising as a result of the trade. It remains the third-ranked U.S. trade partner overall in 2020. CBP TRADE STATISTICS* IMPORTS AND REVENUE COLLECTIONS FY 2017 FY 2018 FY 2019 FY 2020; ... China 7: $72,207,869,575: EU 8: ... * CBP data. In the United States and most other developed economies, herd immunity is most likely to be achieved in the third or fourth quarter of 2021. U.S. exports to China accounted for 6% of overall U.S. exports in 2019. China's FDI in the U.S. is led by wholesale trade, manufacturing, and depository institutions. By contrast, the U.S. shipped a much smaller $120.3 billion in goods to China last year, Census trade figures showed. The guide is intended to serve as a research aid for the discovery of interesting and useful sources worldwide. Find Out, Online tool for visualization and analysis. China is currently the United States’ 3rd largest goods trading partner with $558.1 billion in total (two-way) goods trade during 2019. The United States had a services trade surplus of an estimated $36 billion with China in 2019, down 4.1% from 2018. Race by Sex by Age or poverty & health insurance data. October exports to China ($14.7 billion) were the highest on record. Sales of services in China by majority U.S.-owned affiliates were $54.9 billion in 2017 (latest data available), while sales of services in the United States by majority China-owned firms were $18.0 billio, Economic And Trade Agreement Between The United States Of America And The People’s Republic Of China. U.S. exports to China are up 455% from 2001 (pre-WTO accession). Total Imports (2019) $2,068,950,254,597. Trade (% of GDP) - China, United States from The World Bank: Data The second part discusses trends in selected trade policy instruments including illustrative statistics. Leading services imports from China to the United States were in the transport, travel, and research and development sectors. China trade balance for 2019 was $164.99B, a 54.62% increase from 2018. #1 source for current population data and the latest Economic Indicators. The country's trade surplus with the US narrowed to USD 30.75 billion in September from USD 34.24 billion in August. The top export categories (2-digit HS) in 2019 were: electrical machinery ($14 billion); machinery ($13 billion); aircraft ($10 billion); optical and medical instruments ($9.7 billion); and vehicles ($9.1 billion). In order to pursue ‘fair trade’, the Trump administration has imposed a punitive 25% tariff on $250 billion’s worth of Chinese goods. The historical development and changes in soybean trade after China imposed retaliatory tariffs in 2018 are analyzed in Interdependence of China, the United States, and Brazil in Soybean Trade… The U.S. consumes more petroleum than any other country in the world. With those swoons, China returned to the No. In the graph above, the blue dots represent the trend of imports from China to the US since 1985 and the orange dots represent the trend of exports from the US to China since 1985. China was the United States' 3rd largest goods export market in 2019. U.S. goods imports from China are up 342% from 2001 (pre-WTO accession). Trade Balance (2019) $429,619,611,040. 1 spot, at least for April, as its U.S. trade was off only 6.79%. The first part presents a discussion on ongoing trade tensions between the United States and China. General government final consumption expenditure (current US$), General government final consumption expenditure (current LCU), Imports of goods and services (annual % growth), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. Key variables are the arrival, efficacy, and coverage of vaccines; we anticipate four scenarios (Exhibit 1). Latest U.S. International Trade in Goods and Services Report- PDF | ZIP (XLSX) Summary and Highlights. The China–United States trade war (Chinese: 中美 贸易战; pinyin: Zhōngměi Màoyìzhàn) is an ongoing economic conflict between China and the United States.President Donald Trump in 2018 began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are "unfair trade practices" and intellectual property theft. Mr. Ning Jizhe Meets with the Director of the United Nations Statistics Division On the morning of October 15, Mr. Ning Jizhe, Commissioner of the National Bureau of Statistics of China (NBS), met with Mr. Stefan Schweinfest, Director of the United Nations Statistics Division (...; Mr. Xian Zude Meets with the UN Resident Coordinator a.i. Households to Business to Government - Income & Spending. The United States exports more services than it imports. According to the U.S. Department of Commerce, U.S. exports of goods and services to China supported an estimated 911,000 jobs in 2015 (latest data available), with 601,000 jobs supported by goods exports and 309,000 jobs supported by services exports. Table reflects only those months for which there was trade. China is currently the United States’ 3rd largest goods trading partner with $558.1 billion in total (two-way) goods trade during 2019. That US deficit with the world is … That's 18% less than 2018's $418.9 billion deficit. World Bank national accounts data, and OECD National Accounts data files. US-China trade war: 'We're all paying for this' Published 31 July 2019. Goods exports totaled $106.4 billion; goods imports totaled $451.7 billion. **The Enforce … For the first nine months of the year, China’s trade surplus with the US totaled USD 218.57 billion. U.S. imports of services from China were an estimated $20.1 billion in 2019, 5.4% ($1.0 billion) more than in 2018, and 111% greater than the 2009 level. U.S. imports of agricultural products from China totaled $3.6 billion in 2019, making China the United States’ 6th largest supplier of agricultural imports. It is clear that they both showed an increasing trend until around 2018, they both decreased a little due to the Trade War. This site uses cookies to optimize functionality and give you the best possible experience. Despite a challenging trade environment, China in 2019 was the top market for U.S soybeans, hides and skins, and sorghum. U.S. goods exports to China in 2019 were $106.4 billion, down 11.5% ($13.8 billion) from 2018 but up 53.2% from 2009. Mutual blame over the coronavirus pandemic has reignited tensions between the United States and China, threatening to break what was already a fragile truce on trade … This column uses the iPhone as an example to demonstrate how the trade deficit is inflated and why value-added should be used to assess the bilateral U.S. exports of services to China were an estimated $56.5 billion in 2019, 0.9% ($523 million) less than in 2018, but 231% greater than the 2009 level. To learn more about cookies, click here. Data are in current U.S. dollars. 2020 : U.S. trade in goods with China . The U.S. goods trade deficit with China was $345.0 billion in 2019, a 17.6% decrease ($73.7 billion) from 2018. Can fresh US-China talks end the trade war? Trade profiles provide a series of key indicators on trade in goods and services for over 190 economies, highlighting the major exports and imports for each economy as well as their main trading partners. U.S. goods and services trade with China totaled an estimated $634.8 billion in 2019. They were up roughly 952% from 2001 (pre-WTO accession). For official trade statistics of the United States, please refer to the U.S. Census Bureau. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Exports were $163.0 billion; imports were $471.8 billion. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Services exports were $56.5 billion; services imports were $20.1 billion. U.S. FDI in China is led by manufacturing, wholesale trade, and finance and insurance. However, conventional trade statistics greatly exaggerate the US trade deficit with China. China's FDI in the United States (stock) was $37.7 billion in 2019, up 12.3% from 2018. U.S. goods imports from China totaled $451.7 billion in 2019, down 16.2% ($87.6 billion) from 2018, but up 52.4% from 2009. During the last five reported years the exports of China have changed by $313B from $2.27T in 2013 to $2.59T in 2018. Tourism Statistics. U.S. goods imports from China account for 18.1% of overall U.S. goods imports in 2019. Trade profiles. Federal Spending and much more. U.S. goods and services trade with China totaled an estimated $634.8 billion in 2019. This page provides access to an archive of News Releases previously published by the Bureau of Economic Analysis. Soybeans are China’s top agricultural import, and the United States and Brazil are the main exporters. The U.S. services trade surplus with China was $36.4 billion in 2019. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. The U.S. trade deficit with China in 2019 was $345.2 billion. Leading domestic export categories included: soybeans ($8.0 billion); pork and pork products ($1.3 billion); cotton ($706 million); tree nuts ($606 million); and hides and skins ($412 million).