For Immediate Release: Friday, February 10, 2012
Contact: Phoebe Silag or Karen Conner, news@epi.org 202-775-8810

U.S. trade deficit increased 11.6% in 2011, primarily from oil imports and trade with China

The EPI International Picture reports today that the U.S. trade deficit in goods and services increased 11.6 percent in 2011. Although the United States had a surplus in services trade, that surplus paled in comparison to the U.S. trade deficit in goods trade, which increased from $645.9 billion to $737.1 billion in 2011 (an increase of $91.2 billion or 14.1 percent).

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Related EPI publications on the economic effects of the trade deficit:

Jobs in the U.S. auto parts industry are at risk due to subsidized and unfairly traded Chinese auto parts

Growing U.S. trade deficit with China cost 2.8 million jobs between 2001 and 2010