America’s Trade Deficit Surged in 2022

 

 

Annual U.S. trade balance

Note: Goods and services, seasonally adjusted, not adjusted for inflation

Source: U.S. Census Bureau

By The New York Times

 

 

Overall trade with China last year easily surpassed previous records, and the U.S. trade deficit with China grew 8.3 percent annually to $382.9 billion, the second-highest total on record.

One beneficiary of the shift has been Mexico, now a destination for more global factories hoping to serve the United States. Data released Tuesday showed strong growth in trade with Mexico last year, with exports rising 17.3 percent and imports 18.3 percent. The U.S. trade deficit with Mexico grew 20.7 percent to $130 billion.

https://www.nytimes.com/2023/02/07/business/economy/us-trade-deficit.html 

https://www.census.gov/foreign-trade/balance/c5700.html