Figure B
Steadily growing U.S. deficit in non-oil goods trade, 1974–2019
| Date | Non-oil goods trade balance ($billions) | Non-oil goods trade deficit (GDP share) |
|---|---|---|
| 1974 | 1.5% | 22.9 |
| 1975 | 2.2% | 37.8 |
| 1976 | 1.5% | 28.1 |
| 1977 | 0.8% | 16.9 |
| 1978 | 0.4% | 10.5 |
| 1979 | 1.1% | 29.3 |
| 1980 | 2.0% | 57.6 |
| 1981 | 1.6% | 50.4 |
| 1982 | 0.8% | 26.6 |
| 1983 | -0.3% | -10.0 |
| 1984 | -1.3% | -52.5 |
| 1985 | -1.6% | -70.0 |
| 1986 | -2.3% | -107.1 |
| 1987 | -2.3% | -110.8 |
| 1988 | -1.6% | -84.9 |
| 1989 | -1.2% | -65.3 |
| 1990 | -0.8% | -50.1 |
| 1991 | -0.4% | -26.2 |
| 1992 | -0.7% | -44.8 |
| 1993 | -1.2% | -80.3 |
| 1994 | -1.6% | -113.2 |
| 1995 | -1.5% | -117.0 |
| 1996 | -1.4% | -114.6 |
| 1997 | -1.4% | -123.2 |
| 1998 | -2.1% | -194.5 |
| 1999 | -2.9% | -279.4 |
| 2000 | -3.4% | -345.1 |
| 2001 | -3.2% | -338.7 |
| 2002 | -3.6% | -391.3 |
| 2003 | -3.8% | -432.0 |
| 2004 | -4.2% | -511.2 |
| 2005 | -4.3% | -562.7 |
| 2006 | -4.2% | -579.3 |
| 2007 | -3.8% | -544.1 |
| 2008 | -3.2% | -463.6 |
| 2009 | -2.2% | -319.7 |
| 2010 | -2.7% | -403.7 |
| 2011 | -2.9% | -448.5 |
| 2012 | -3.0% | -483.2 |
| 2013 | -3.0% | -497.3 |
| 2014 | -3.3% | -577.7 |
| 2015 | -3.9% | -701.9 |
| 2016 | -3.8% | -709.1 |
| 2017 | -3.9% | -764.3 |
| 2018 | -4.1% | -840.0 |
| 2019 | -4.0% | -854.2 |
Sources: EPI Analysis of Bureau of Economic Analysis NIPA [Table 1.1.5] and Energy Information Administration.
This chart appears in:
Previous chart: « Globalization has steadily increased trade shares of U.S. GDP, 1970–2019
Next chart: Real trade weighted U.S. dollar* increased 20.8% in past 5 years »