Fact #427: June 5, 2006
Transportation and the U.S. Trade Deficit, 2001-2005
In calendar year 2005, the U.S. trade deficit in goods totaled nearly $782 billion. Nearly half (47.5%) of the 2005 trade deficit is transportation-related - petroleum (29.3%) and vehicles, engines, and parts (18.2%).
U.S. Trade Deficit, 2001-2005
Supporting Information
| Commodity Category | 2001 | 2001 Share | 2002 | 2002 Share | 2003 | 2003 Share | 2004 | 2004 Share | 2005 | 2005 Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Petroleum | 93.0 | 21.8% | 93.2 | 19.3% | 120.4 | 22.0% | 163.8 | 24.6% | 229.2 | 29.3% |
| Vehicles, engines, and parts | 114.3 | 26.8% | 124.8 | 25.8% | 129.5 | 23.6% | 140.0 | 21.0% | 142.2 | 18.2% |
| Other goods | 219.9 | 51.5% | 264.9 | 54.9% | 297.7 | 54.4% | 361.6 | 54.3% | 410.3 | 52.5% |
| Total | 427.2 | 100.0% | 482.9 | 100.0% | 547.6 | 100.0% | 665.5 | 100.0% | 781.6 | 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 2004, March 2005, March 2006 editions. | ||||||||||
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