Fact #348: November 29, 2004
U.S. Trade Deficit, 2001–2003
In calendar year 2003, the U.S. trade deficit in goods totaled $547 billion, which is $64 billion more than the previous year's deficit. Nearly half (45.6%) of the 2003 trade deficit is transportation-related: petroleum (22.0%) and vehicles, engines, and parts (23.6%).
U.S. Trade Deficit, 2001–2003
Supporting Information
| Commodity Category | 2001 | 2001 Share | 2002 | 2002 Share | 2003 | 2003 Share |
|---|---|---|---|---|---|---|
| Petroleum | $92,950 | 21.8% | $93,169 | 19.3% | $120,402 | 22.0% |
| Vehicles, engines, and parts | $114,347 | 26.8% | $124,801 | 25.8% | $129,487 | 23.6% |
| Other goods | $219,891 | 51.5% | $264,925 | 54.9% | $297,663 | 54.4% |
| Total | $427,188 | 100.0% | $482,895 | 100.0% | $547,552 | 100.0% |
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Source: U.S. Department of Commerce, Bureau of Economic Analysis, "U.S. International Trade in Goods and Services," Exhibits 6 and 9, November 10, 2004. | ||||||
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