United States - Balance of payments

Since 1950, the United States has generally recorded deficits in its overall payments with the rest of the world, despite the fact that it had an unbroken record of annual surpluses up to 1970 on current-account goods, services, and remittances transactions. The balance of trade, in the red since 1975, reached a record deficit of $249 billion in 1998. The nation's stock of gold declined from a value of $22.9 billion at the start of 1958 to $10.5 billion as of 31 July 1971, only two weeks before President Nixon announced that the United States would no longer exchange dollars for gold. From 1990–98, the value of the gold stock was stable at $11 billion. On 12 February 1973,

Exports, Imports and Trade Balance by Country and Area: 2002 Annual Totals

In millions of dollars. Details may not equal totals due to rounding. (X) Not applicable. (-) Represents zero or less than one-half of value shown. January–December, Cumulative

COUNTRY	TRADE BALANCE	RANK	EXPORTS F . A . S .	RANK	IMPORTS CUSTOMS	RANK
Total, BOP Basis	-482,871.8	(X)	681,874.0	(X)	1,164,745.8	(X)
Net Adjustments	-14,609.0	(X)	-11,229.2	(X)	3,379.8	(X)
Total, Census Basis	-468,262.8	(X)	693,103.2	(X)	1,161,366.0	(X)
Afghanistan	76.7	195	80.0	114	3.3	178
Albania	9.0	151	14.8	176	5.8	167
Algeria	-1,375.8	41	984.4	55	2,360.2	49
Andorra	10.2	154	11.0	183	0.8	201
Angola	-2,748.6	26	374.0	74	3,122.7	44
Anguilla	18.9	163	19.9	167	1.0	197
Antigua and Barbuda	77.8	196	81.4	113	3.5	177
Argentina	-1,601.9	35	1,585.4	44	3,187.3	42
Armenia	81.2	198	111.8	103	30.7	137
Aruba	-309.2	61	464.6	68	773.7	66
Australia	6,606.2	229	13,085.0	13	6,478.8	28
Austria	-1,387.5	40	2,427.4	38	3,814.9	35
Azerbaijan	35.3	183	69.6	121	34.4	136
Bahamas	525.6	220	975.3	56	449.7	72
Bahrain	24.4	169	419.3	71	394.9	76
Bangladesh	-1,865.1	30	269.1	81	2,134.2	53
Barbados	233.2	212	267.6	82	34.4	135
Belarus	-106.4	80	19.1	168	125.5	113
Belgium	3,519.0	228	13,325.8	12	9,806.8	22
Belize	60.0	190	137.7	98	77.7	121
Benin	34.5	180	35.2	143	0.7	203
Bermuda	392.2	219	415.1	72	22.9	143
Bhutan	0.1	119	1.0	212	0.8	200
Bolivia	31.7	178	192.1	93	160.4	107
Bosnia-Hercegovina	16.1	161	31.7	147	15.5	148
Botswana	2.4	138	31.7	146	29.3	138
Brazil	-3,404.6	25	12,376.0	15	15,780.6	13
British Indian Ocean Territory	0.1	118	0.4	218	0.4	210
British Virgin Islands	26.9	173	67.4	122	40.5	133
Brunei	-240.8	65	46.3	136	287.1	91
Bulgaria	-238.3	66	101.4	106	339.7	82
Burkina	15.9	160	18.8	169	2.9	180
Myanmar (Burma)	-346.2	58	10.1	186	356.4	81
Burundi	1.0	131	1.7	208	0.7	202
Cambodia	-1,041.7	44	29.2	152	1,071.0	64
Cameroon	-16.3	97	155.8	95	172.1	103
Canada	-48,164.9	3	160,922.6	1	209,087.6	1
Cape Verde	7.8	148	9.6	187	1.8	189
Cayman Islands	222.8	211	231.6	86	8.8	159
Central African Republic	4.4	142	6.4	191	2.0	187
Chad	121.6	206	127.3	101	5.7	168
Chile	-1,175.5	42	2,609.0	34	3,784.5	36
China	-103,064.7	1	22,127.8	7	125,192.5	3
Christmas Island	0.6	125	1.2	210	0.6	206
Cocos (Keeling) Island	0.7	128	1.0	211	0.2	216
Colombia	-2,021.9	27	3,582.5	29	5,604.3	32
Comoros	-5.2	106	0.1	225	5.3	169
Congo (ROC)	-129.7	76	52.4	132	182.1	102
Congo (DROC)	-175.9	70	28.1	155	204.1	98
Cook Islands	-0.3	111	0.8	215	1.1	196
Costa Rica	-25.3	93	3,116.5	31	3,141.8	43
Croatia	-67.5	87	78.1	117	145.6	111
Cuba	145.3	207	145.6	96	0.3	214
Cyprus	167.7	208	193.4	91	25.6	141
Czech Republic	-579.7	49	653.7	62	1,233.4	61
Denmark	-1,741.4	32	1,495.9	47	3,237.3	41
Djibouti	56.7	189	58.6	128	1.9	188
Dominica	40.3	186	45.0	137	4.7	172
Dominican Republic	81.2	199	4,250.1	26	4,168.9	33
East Timor	0.1	120	0.1	224	(-)	221

COUNTRY	TRADE BALANCE	RANK	EXPORTS F . A . S .	RANK	IMPORTS CUSTOMS	RANK
Ecuador	-537.8	50	1,605.7	43	2,143.4	52
Egypt	1,512.5	225	2,868.4	33	1,356.0	60
El Salvador	-318.2	60	1,664.1	42	1,982.3	54
Equatorial Guinea	-393.2	56	108.7	104	501.9	70
Eritrea	28.4	176	28.8	153	0.4	211
Estonia	-82.1	85	81.5	112	163.6	104
Ethiopia	34.9	182	60.5	127	25.7	140
Falkland Islands	-5.6	105	0.4	219	6.0	166
Faroe Islands	-10.8	99	4.7	196	15.5	150
Federal Republic of Germany	-35,876.1	5	26,629.6	5	62,505.7	5
Fedrated States of Micronesia	12.0	156	27.2	158	15.2	152
Fiji	-139.4	74	16.9	174	156.3	109
Finland	-1,912.1	29	1,534.9	46	3,447.0	39
France	-9,223.9	13	19,016.2	8	28,240.1	9
French Guiana	242.3	213	249.7	84	7.5	162
French Polynesia	34.8	181	78.9	116	44.1	131
French Southern and Antarctic Lands	0.7	127	0.7	216	(-) 224	n.a.
Gabon	-1,521.9	37	65.5	124	1,587.5	59
Gambia	9.2	152	9.6	188	0.3	213
Gaza Strip Administered by Israel	-6.9	104	(-)	228	6.9	163
Georgia	81.4	200	98.8	108	17.5	146
Ghana	76.2	194	192.6	92	116.3	114
Gibraltar	24.6	170	25.7	159	1.1	194
Greece	605.6	221	1,151.8	51	546.2	69
Greenland	-18.6	94	4.0	199	22.6	144
Grenada	49.5	188	56.4	130	6.9	164
Guadeloupe	29.2	177	39.7	140	10.5	154
Guatemala	-751.9	47	2,044.4	40	2,796.4	45
Guinea	-8.7	100	62.9	125	71.6	124
Guinea-Bissau	2.5	139	2.6	203	(-)	220
Guyana	12.6	157	128.2	100	115.6	115
Haiti	318.2	216	573.2	65	255.0	94
Heard and McDonald Islands	0.1	117	0.1	226	(-)	227
Honduras	-690.3	48	2,571.1	35	3,261.3	40
Hong Kong	3,266.1	227	12,594.4	14	9,328.2	25
Hungary	-1,949.6	28	687.9	60	2,637.4	46
Iceland	-77.9	86	219.0	87	296.9	90
India	-7,717.3	15	4,101.1	27	11,818.3	19
Indonesia	-7,087.5	17	2,555.8	36	9,643.3	23
Iran	-124.5	77	31.8	145	156.3	108
Iraq	-3,516.6	24	31.6	148	3,548.2	37
Ireland	-15,692.6	6	6,745.1	21	22,437.7	12
Israel	-5,389.0	19	7,026.7	20	12,415.7	18
Italy	-14,163.5	7	10,056.8	17	24,220.3	10
Ivory Coast	-300.2	62	76.2	119	376.4	78
Jamaica	1,023.9	222	1,420.2	48	396.3	75
Japan	-69,979.4	2	51,449.3	3	121,428.7	4
Jordan	-7.9	103	404.4	73	412.3	73
Kazakhstan	270.0	215	604.6	63	334.6	83
Kenya	82.6	201	271.2	80	188.6	101
Kiribati	2.7	140	3.8	200	1.1	195
Korea (ROC)	-12,996.1	10	22,575.8	6	35,571.8	7
Kuwait	-925.7	45	1,014.7	54	1,940.4	55
Kyrgyzstan	26.3	172	31.1	149	4.8	171
Laos	1.6	135	4.2	197	2.6	185
Latvia	-106.2	81	90.8	111	197.0	99
Lebanon	255.8	214	317.4	77	61.7	126
Lesotho	-319.7	59	2.0	206	321.7	84
Liberia	-18.1	95	27.7	156	45.8	130
Libya	18.3	162	18.3	172	(-)	(X)
Liechtenstein	-223.2	67	14.5	177	237.7	96
Lithuania	-196.8	69	102.8	105	299.6	89
Luxembourg	180.2	210	480.1	67	300.0	88

COUNTRY	TRADE BALANCE	RANK	EXPORTS F . A . S .	RANK	IMPORTS CUSTOMS	RANK
Macao	-1,152.6	43	79.0	115	1,231.7	62
Macedonia (Skopje)	-54.5	89	18.6	170	73.2	123
Madagascar	-200.4	68	15.4	175	215.8	97
Malawi	-40.7	92	30.1	151	70.8	125
Malaysia	-13,665.3	9	10,343.7	16	24,008.9	11
Maldives	-109.5	78	4.1	198	113.6	117
Mali	8.6	149	11.2	181	2.6	184
Malta	-99.8	83	210.1	88	309.9	85
Marshall Islands	19.3	164	28.7	154	9.4	157
Martinique	23.1	167	23.7	163	0.7	204
Mauritania	21.9	166	22.9	165	0.9	198
Mauritius	-253.2	63	27.5	157	280.6	92
Mayott	(-)	114	(-)	229	(-)	226
Mexico	-37,145.5	4	97,470.3	2	134,615.8	2
Moldova	-8.5	101	30.7	150	39.1	134
Monaco	-3.7	107	11.4	180	15.1	153
Mongolia	-95.4	84	66.3	123	161.7	105
Montserrat	4.7	144	5.1	195	0.4	208
Morocco	173.0	209	565.4	66	392.4	77
Mozambique	86.1	202	94.6	109	8.5	160
Namibia	0.3	124	57.8	129	57.4	128
Nauru	2.4	137	2.9	202	0.5	207
Nepal	-132.4	75	20.0	166	152.4	110
Netherlands	8,462.2	230	18,310.7	10	9,848.5	21
Netherlands Antilles	379.7	217	741.4	58	361.7	80
New Caledonia	27.0	174	36.6	141	9.6	155
New Zealand	-468.5	51	1,813.1	41	2,281.6	51
Nicaragua	-242.6	64	437.0	69	679.6	68
Niger	40.0	185	40.9	138	0.9	199
Nigeria	-4,887.6	20	1,057.8	52	5,945.4	29
Niue	0.3	123	0.3	220	(-)	223
Norfolk Island	0.1	121	0.2	223	0.1	218
North Korea	24.9	171	25.0	161	0.1	219
Norway	-4,436.2	22	1,406.5	50	5,842.6	30
Oman	-44.6	91	356.0	76	400.6	74
Pakistan	-1,611.6	34	693.4	59	2,305.0	50
Palau	3.0	141	18.5	171	15.5	149
Panama	1,104.1	223	1,406.7	49	302.6	87
Papua New Guinea	-66.9	88	23.2	164	90.2	120
Paraguay	389.2	218	432.9	70	43.7	132
Peru	-376.9	57	1,562.5	45	1,939.3	56
Philippines	-3,703.9	23	7,276.0	19	10,979.9	20
Pitcairn Island	6.0	146	6.1	193	0.1	217
Poland	-422.2	54	686.3	61	1,108.5	63
Portugal	-811.3	46	861.3	57	1,672.6	58
Qatar	-170.7	72	313.9	78	484.7	71
Republic of Yemen	119.8	205	366.1	75	246.3	95
Reunion	-0.2	112	2.3	204	2.6	186
Romania	-446.9	52	248.2	85	695.1	67
Russia	-4,473.2	21	2,397.0	39	6,870.2	27
Rwanda	7.1	147	10.2	185	3.1	179
San Marino	4.6	143	5.8	194	1.2	192
Sao Tome and Principe	1.6	134	2.0	207	0.4	209
Saudi Arabia	-8,369.1	14	4,780.7	24	13,149.9	17
Senegal	71.1	193	74.6	120	3.6	176
Seychelles	-18.1	96	8.2	189	26.3	139
Sierra Leone	21.7	165	25.5	160	3.8	174
Singapore	1,415.7	224	16,217.9	11	14,802.2	15
Slovakia	-167.6	73	92.7	110	260.3	93
Slovenia	-175.7	71	130.9	99	306.5	86
Solomon Islands	0.9	130	1.5	209	0.6	205
Somalia	5.8	145	6.2	192	0.3	212
South Africa	-1,508.6	38	2,525.5	37	4,034.1	34

COUNTRY	TRADE BALANCE	RANK	EXPORTS F . A . S .	RANK	IMPORTS CUSTOMS	RANK
Spain	-435.2	53	5,297.9	22	5,733.0	31
Sri Lanka	-1,638.5	33	171.9	94	1,810.4	57
St Helena	-2.0	109	2.1	205	4.1	173
St Kitts and Nevis	0.8	129	49.5	133	48.6	129
St Lucia	80.3	197	99.5	107	19.2	145
St Pierre and Miquelon	-2.8	108	0.8	214	3.7	175
St Vincent and the Grenadines	24.0	168	40.4	139	16.5	147
Sudan	9.5	153	10.8	184	1.4	191
Suriname	-8.0	102	124.8	102	132.7	112
Svalbard, Jan Mayen Island	0.6	126	0.6	217	(-)	225
Swaziland	-103.0	82	11.5	179	114.5	116
Sweden	-6,063.3	18	3,153.0	30	9,216.3	26
Switzerland	-1,599.4	36	7,782.5	18	9,382.0	24
Syria	113.2	204	274.1	79	160.8	106
Taiwan	-13,766.1	8	18,381.8	9	32,147.9	8
Tajikistan	32.0	179	33.1	144	1.1	193
Tanzania	37.9	184	62.7	126	24.8	142
Thailand	-9,932.7	12	4,860.2	23	14,792.9	16
Togo	11.1	155	13.8	178	2.7	183
Tokelau	15.3	158	18.0	173	2.7	182
Tonga	1.9	136	11.0	182	9.1	158
Trinidad and Tobago	-1,420.1	39	1,020.2	53	2,440.3	47
Tunisia	101.6	203	194.8	90	93.2	119
Turkey	-403.0	55	3,113.0	32	3,516.0	38
Turkmenistan	-12.5	98	47.1	135	59.6	127
Turks and Caicos Islands	48.5	187	53.6	131	5.1	170
Tuvalu	0.1	116	0.1	227	(-)	228
Uganda	8.7	150	24.0	162	15.3	151
Ukraine	-107.6	79	254.8	83	362.4	79
United Arab Emirates	2,670.3	226	3,593.2	28	922.9	65
United Kingdom	-7,540.2	16	33,204.7	4	40,744.9	6
Uruguay	15.4	159	208.6	89	193.2	100
Uzbekistan	61.4	191	138.5	97	77.1	122
Vanuatu	-1.9	110	0.9	213	2.8	181
Vatican City	1.2	132	2.9	201	1.7	190
Venezuela	-10,663.8	11	4,429.7	25	15,093.5	14
Vietnam	-1,814.5	31	580.2	64	2,394.7	48
Wallis and Futuna	0.2	122	0.2	222	(-)	229
West Bank Administered by Israel	(-)	115	0.3	221	0.3	215
Western Sahara	(-)	113	(-)	230	(-)	222
Western Samoa	1.3	133	7.6	190	6.4	165
Yugoslavia	68.5	192	78.1	118	9.6	156
Zambia	27.9	175	35.7	142	7.9	161
Zimbabwe	-53.4	90	49.3	134	102.8	118
Unidentified	187.1	(X)	187.1	(X)	(-)	(X)
North America	-85,310.5	(X)	258,392.9	(X)	343,703.4	(X)
Western Europe	-88,938.2	(X)	157,029.8	(X)	245,968.0	(X)
Euro Area	-66,735.3	(X)	105,837.6	(X)	172,572.9	(X)
European Union (EU)	-82,080.2	(X)	143,691.3	(X)	225,771.4	(X)
European Free Trade Association	-6,336.7	(X)	9,422.5	(X)	15,759.2	(X)
Eastern Europe	-8,300.9	(X)	6,596.6	(X)	14,897.5	(X)
Former Soviet Republics	-4,505.8	(X)	4,111.5	(X)	8,617.3	(X)
Organization for Economic	-88,818.3	(X)	156,244.7	(X)	245,063.0	(X)
Cooperation & Development
(OECD) in Europe
Pacific Rim Countries	-214,903.6	(X)	178,569.1	(X)	393,472.7	(X)
Asia–Near East	-15,364.6	(X)	18,930.0	(X)	34,294.6	(X)
Asia–(NICS)	-22,080.2	(X)	69,769.9	(X)	91,850.1	(X)
Asia—South	-12,888.2	(X)	5,335.4	(X)	18,223.6	(X)
Assoc. of South East Asia Nations	-34,256.1	(X)	41,329.1	(X)	75,585.2	(X)
(ASEAN)
APEC	-316,834.3	(X)	448,891.8	(X)	765,726.0	(X)
South/Central America	-17,952.2	(X)	51,551.1	(X)	69,503.3	(X)

COUNTRY TRADE BALANCE RANK EXPORTS F . A . S . RANK	IMPORTS	CUSTOMS	RANK
(1) Detailed data are presented on a Census basis. The information needed to convert to a BOP basis is not available.
(2) Countries included in Euro Area are also included in European Union.
(3) Selected countries are included in more than one area grouping. Indonesia is included in both OPEC and Pacific Rim; Venezuela is included in both OPEC and South/Central America.
(4) The export totals reflect shipments of certain grains, oilseeds, and satellites that are not included in the country/area totals.
NOTE: For information on data sources, iron sampling errors and definitions, see the information section on page 26 of the FT-900, or at www.census.gov/foreign-trade/www/press.html or www.bea.gov/bea/rels.htm . Source: U.S. Census Bureau and the Bureau of Economic Analysis (BEA). "U.S. International Trade in Goods and Services: April 2003." Washington: United States Department of Commerce, 2003.
Twenty Latin American Republics -56,871.1 (X) 142,263.1 (X)		199,134.2	(X)
Central American Common Market -2,028.3 (X) 9,833.1 (X)		11,861.4	(X)
Latin American Free Trade Association -56,491.6 (X) 126,054.4 (X)		182,546.0	(X)
North Atlantic Treaty Organization -133,683.6 (X) 313,205.0 (X)		446,888.5	(X)
(NATO) Allies
Organization of Petroleum Exporting -34,432.7 (X) 18,811.9 (X)		53,244.6	(X)
Countries (OPEC)
Unidentified 187.1 (X) 187.1 (X)		(-)	(X)

pressures on the US dollar compelled the government to announce a 10% devaluation against nearly all of the world's major currencies. US international gold reserves thereupon rose from $14.4 billion in 1973 to $15.9 billion at the end of 1974; as of 1999, US gold reserves stood at $75 billion, down from $102 billion in 1990

Despite the decline in the value of the dollar in 2003, the current account was forecast to remain in substantial deficit for 2003/04. The volume of US imports and exports surpasses that of any other country, but exports of goods and services accounted for less than 11% of GDP in 2001.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of the United States' exports was $723 billion while imports totaled $1.15 trillion resulting in a trade deficit of $425 billion.

The International Monetary Fund (IMF) reports that in 2001 the United States had exports of goods totaling $722 million and imports totaling $1.15 trillion. The services credit totaled $276 billion and debit $210 billion. The following table summarizes the United States' balance of payments as reported by the IMF for 2001 in billions of US dollars.

Current Account	-393
Balance on goods	-424
Balance on services	66
Balance on income	14
Current transfers	-49
Capital Account	1
Financial Account	387
Direct investment abroad	-128
Direct investment in the United States	131
Portfolio investment assets	-95
Portfolio investment liabilities	426
Other investment assets	-144
Other investment liabilities	196
Net Errors and Omissions	11
Reserves and Related Items	-5