Balance of trade · United States
United States Goods Trade Balance
The United States Goods Trade Balance shows the difference between the value of goods (and sometimes services) that the United States sells abroad and what it buys from abroad, or the growth of exports and imports.
- Importance
- Medium
- Released
- Monthly
- Currency
- USD · US dollar
- Central bank
- The Federal Reserve
Latest figures
The latest release for FEB, published on 2 April 2026, came in at $-83.5B.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 2 Apr 2026 | FEB | $-83.5B | – | $-80.9B ® |
| 12 Mar 2026 | JAN | $-80.8B | – | $-98.5B |
| 19 Feb 2026 | DEC | $-98.5B | $-86B | $-82.8B ® |
Why it matters
Exports are a big part of demand for open economies (Germany, China, Japan, Korea, the Netherlands). A larger surplus means more foreign demand for the US dollar; strong imports signal domestic demand. China's figures are read as a gauge of world demand.
How it is calculated
Customs records the value of goods crossing the border; services come from surveys. The balance is exports minus imports, usually seasonally adjusted.
Trade balance = exports − importsWhat changes mean
- Look at exports and imports separately: a wider surplus from collapsing imports is a sign of weak domestic demand, not strength.
- Exchange-rate moves take months to affect trade volumes (the J-curve).
Higher than expected: A larger surplus (or smaller deficit) than expected tends to support the US dollar.
Lower than expected: A smaller surplus (or larger deficit) than expected tends to weigh on the US dollar.
A short history
Trade balances were the obsession of mercantilism in the 16th–18th centuries; David Hume's price-specie flow mechanism (1752) explained why surpluses tend to correct themselves.
Questions
What is the United States Goods Trade Balance?
The United States Goods Trade Balance shows the difference between the value of goods (and sometimes services) that the United States sells abroad and what it buys from abroad, or the growth of exports and imports.
What was the latest United States Goods Trade Balance?
$-83.5B for FEB, published on 2 April 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.