In 2003 the United States incurred a merchandise trade deficit of $535.7 billion on a Census basis and $549.4 billion on a balance-of-payments basis (BoP). A surplus in services trade of $60 billion gave a deficit of $489.3 billion on goods and services (BoP) for the year, 17% higher than 2002. Year-to-date (January-October 2004), the trade deficit in goods and services, at $500.5 billion, is 21% higher compared to the same period in 2003.

In 2005 the United States incurred a record merchandise trade deficit of $766 billion on a census basis and $782 billion on a balance-of-payments basis (BoP). A surplus in services trade of $58 billion gave a deficit of $724 billion on goods and services (BoP) for the year — up to $108 billion or 17.2% from the $618 billion deficit in 2004.

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