In 2018, total U.S. trade with foreign countries was $5.6 trillion. That was $2.5 trillion in exports and $3.1 trillion in imports of both goods and services.
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“Goods contribute 66%, or $1.7 trillion, to U.S. exports.2 One-third of exported goods are capital goods ($547 billion). The largest sub-category is commercial aircraft ($132 billion). Other capital goods include industrial machines ($57 billion), semiconductors ($50 billion), and telecommunications ($36 billion). Electric apparatus ($44 billion) and medical equipment ($38 billion) are also significant contributors….
“Services make up one-third of U.S. exports ($847 billion). The largest single category is travel services at $306 billion. Computer and business services export $228 billion. The next category is royalties and license fees at $129 billion. Other private services, such as financial services, also add $131 billion. Government and military contracts add $21 billion….
“More than 80% of U.S. imports are goods ($2.5 trillion). Capital goods($678 billion) contribute 27% of all goods imported. That includes computers at $131 billion and telecommunications at $117 billion….
“Services make up 19% of imports ($597 billion).5 The largest category is travel services at $262 billion. The next is business and computer services at $161 billion. Banking and insurance is $84 billion. Last but not least is government service imports at $24 billion.
“Since the United States imports more than it exports, its trade deficit is $617 billion. Even though America exports billions in oil, consumer goods, and automotive products, it imports even more.”