US Trade, First Half 2023

US trade dropped in the first half of the year, as compared to January-June 2022. Exports were down 0.8%, and imports by 6.3%. As a result, the deficit was 15% smaller than a year earlier.

Sales to Asia dropped 3.8%, while those to the EU rose 7.9% and exports to NAFTA were flat, rising just 0.2%. Imports from America’s closest neighbors rose 0.1%, while those from the EU were up 6.4%.

Purchases from Asia were down 14.5%, led by a 25.2% crash in buying from China, and an 11% decline in imports from South-east Asia.