The United States is facing a prolonged period of trade deficit. Present for decades, the trade deficit has been deteriorating from the US point of view. The average annual change in the last 14 years has been 5.75 % (exports) and 6.5 % (imports).
The cumulative balance between 1992 and 2016 is US$10 005 116 million dollars. On six occasions over a 24 year period, the trade deficit was lower than in the previous year (1995, 2001, 2007, 2009, 2012 and 2013) – see years with an asterisk in table above. It is unclear why this happened, and indeed it would be interesting to analyse the phenomena further in order to understand the reasons for this decrease. The US current account was and remains in deficit, international investment position (IIP) liabilities have increased faster than assets, and the federal debt has grown at a rapid pace.