The U.S.Trade Balance
While many Americans are aware of the enormous overall U.S. trade deficit, few realize that our trade in services shows a surplus. The overall trade deficit results solely from our trade in goods. The trade balance in services has been in surplus for more than 15 years and has helped to offset the large and growing trade deficit in goods. In 1999, the U.S. had a surplus of $80.6 billion on cross-border transactions in private services, compared with a $345.6 billion deficit on trade in goods.
Suggested citation: "The U.S. Trade Balance," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-02, pp. 08, 02.01.2001.