WORLD

[Graphic News] US has trade deficits with most Asian trade partners

By Korea Herald
  • Published : Jul 2, 2017 - 17:58
  • Updated : Jul 2, 2017 - 17:58




The US imports more from Asian countries than it exports, and as per available data the US runs trade deficits with most Asian countries, with the exception of Singapore. The US has a trade surplus of $8 billion with Singapore.

While the US imports $985 billion from Asia, the total value of its exports to the region is $452 billion, as per data from the United States Census Bureau. The US shipped $116 billion of goods to China in 2016, but it imported goods worth $463 billion from China. The result was a US trade deficit of $347 billion, the largest of any US trading partner.

Other Asian countries the US has a huge trade deficit with are Japan ($69 billion), Vietnam ($32 billion), South Korea ($28 billion) and Malaysia ($25 million).