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This chart is presented to show how the USA did not have a trade deficit until the 1970s and since then we have had a serious trade deficit. Note -- the first column shows the trade balance which is in positive numbers until 1971.

 

This is a chart U.S. Trade in Goods and Services - Balance of Payments (BOP) Basis Value in millions of dollars
1960 thru 2005

           Balance                             Exports                             Imports
 Period        Total   Goods BOP    Services       Total   Goods BOP    Services       Total   Goods BOP    Services

  1960         3,508       4,892      -1,384      25,940      19,650       6,290      22,432      14,758       7,674
  1961         4,195       5,571      -1,376      26,403      20,108       6,295      22,208      14,537       7,671
  1962         3,370       4,521      -1,151      27,722      20,781       6,941      24,352      16,260       8,092
  1963         4,210       5,224      -1,014      29,620      22,272       7,348      25,410      17,048       8,362
  1964         6,022       6,801        -779      33,341      25,501       7,840      27,319      18,700       8,619
  1965         4,664       4,951        -287      35,285      26,461       8,824      30,621      21,510       9,111
  1966         2,939       3,817        -878      38,926      29,310       9,616      35,987      25,493      10,494
  1967         2,604       3,800      -1,196      41,333      30,666      10,667      38,729      26,866      11,863
  1968           250         635        -385      45,543      33,626      11,917      45,293      32,991      12,302
  1969            91         607        -516      49,220      36,414      12,806      49,129      35,807      13,322
  1970         2,254       2,603        -349      56,640      42,469      14,171      54,386      39,866      14,520
  1971        -1,302      -2,260         958      59,677      43,319      16,358      60,979      45,579      15,400
  1972        -5,443      -6,416         973      67,222      49,381      17,841      72,665      55,797      16,868
  1973         1,900         911         989      91,242      71,410      19,832      89,342      70,499      18,843
  1974        -4,293      -5,505       1,212     120,897      98,306      22,591     125,190     103,811      21,379
  1975        12,404       8,903       3,501     132,585     107,088      25,497     120,181      98,185      21,996
  1976        -6,082      -9,483       3,401     142,716     114,745      27,971     148,798     124,228      24,570
  1977       -27,246     -31,091       3,845     152,301     120,816      31,485     179,547     151,907      27,640
  1978       -29,763     -33,927       4,164     178,428     142,075      36,353     208,191     176,002      32,189
  1979       -24,565     -27,568       3,003     224,131     184,439      39,692     248,696     212,007      36,689
  1980       -19,407     -25,500       6,093     271,834     224,250      47,584     291,241     249,750      41,491
  1981       -16,172     -28,023      11,851     294,398     237,044      57,354     310,570     265,067      45,503
  1982       -24,156     -36,485      12,329     275,236     211,157      64,079     299,391     247,642      51,749
  1983       -57,767     -67,102       9,335     266,106     201,799      64,307     323,874     268,901      54,973
  1984      -109,072    -112,492       3,420     291,094     219,926      71,168     400,166     332,418      67,748
  1985      -121,880    -122,173         294     289,070     215,915      73,155     410,950     338,088      72,862
  1986      -138,538    -145,081       6,543     310,033     223,344      86,689     448,572     368,425      80,147
  1987      -151,684    -159,557       7,874     348,869     250,208      98,661     500,552     409,765      90,787
  1988      -114,566    -126,959      12,393     431,149     320,230     110,919     545,715     447,189      98,526
  1989       -93,141    -117,749      24,607     487,003     359,916     127,087     580,144     477,665     102,479
  1990       -80,864    -111,037      30,173     535,233     387,401     147,832     616,097     498,438     117,659
  1991       -31,135     -76,937      45,802     578,344     414,083     164,261     609,479     491,020     118,459
  1992       -39,212     -96,897      57,685     616,883     439,631     177,252     656,094     536,528     119,566
  1993       -70,310    -132,451      62,141     642,863     456,943     185,920     713,173     589,394     123,779
  1994       -98,493    -165,831      67,338     703,254     502,859     200,395     801,747     668,690     133,057
  1995       -96,384    -174,170      77,786     794,387     575,204     219,183     890,771     749,374     141,397
  1996      -104,065    -191,000      86,935     851,602     612,113     239,489     955,667     803,113     152,554
  1997      -107,949    -198,104      90,155     934,453     678,366     256,087   1,042,402     876,470     165,932
  1998      -164,606    -246,687      82,081     933,174     670,416     262,758   1,097,780     917,103     180,677
  1999      -263,286    -346,015      82,729     965,884     683,965     281,919   1,229,170   1,029,980     199,190
  2000      -377,559    -452,414      74,855   1,070,597     771,994     298,603   1,448,156   1,224,408     223,748
  2001      -362,795    -427,188      64,393   1,004,896     718,712     286,184   1,367,691   1,145,900     221,791
  2002      -421,067    -482,297      61,230     974,721     682,422     292,299   1,395,789   1,164,720     231,069
  2003      -494,897    -547,302      52,405   1,016,096     713,415     302,681   1,510,993   1,260,717     250,276
  2004      -611,296    -655,410      54,114   1,151,942     807,516     344,426   1,763,238   1,472,926     290,312
  2005      -716,730    -782,740      66,011   1,275,245     894,631     380,614   1,991,975   1,677,371     314,604

Source: U.S. Census Bureau, Foreign Trade Division.


June 9, 2006