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February 19, 2026US TRADE BALANCE, DECEMBER AND ANNUAL 2025 
Month over month (December 2025 vs November 2025)
The US trade deficit in goods and services expanded by $17.3 billion to $70.3 billion in December. The goods deficit expanded by $15.7 billion to $99.3 billion, and the services surplus contracted by $1.6 billion to $29.0 billion.
Total US exports decreased $5.0 billion to $287.3 billion. Goods exports decreased $5.5 billion to $180.8 billion, and services exports increased $453 million to $106.5 billion.
Total imports increased $12.3 billion to $357.6 billion. Goods imports increased $10.2 billion to $280.2 billion, and services imports increased $2.0 billion to $77.4 billion.
Year over year (December 2025 vs December 2024)
Compared with December 2024, the US trade deficit narrowed by $26.6 billion. The goods deficit narrowed by $23.5 billion and the services surplus expanded by $3.1 billion.
Total exports increased by 6.3% (+$17.1 billion). Goods exports increased 6.1% (+$10.4 billion), services exports increased 6.8% (+$6.7 billion).
Total imports decreased 2.6% (-$9.5 billion). Goods imports decreased 4.5% (-$13.1 billion), and services imports increased 4.9% (+$3.6 billion).
Annual (2025 vs 2024)
For 2025 as a whole, the US trade deficit contracted by $2.1 billion to $901.5 billion. The goods deficit widened by $25.5 billion to $1,240.9 billion while the services surplus expanded by $27.6 billion to $339.5 billion.
US total exports of goods and services increased by $199.8 billion (+6.2%) in 2025, rising to $3,432.3 billion. Goods exports increased by 5.7% (+$117.7 billion) to $2,197.5 billion while services exports rose 7.1% (+$82.1 billion) to $$1,234.9 billion.
US total imports of goods and services increased by $197.8 billion (+4.8%) in 2025, rising to $4,333.8 billion. Goods imports increased by 4.3% (+$143.2 billion) to $3,438.4 billion while services imports rose 6.5% (+$54.5 billion) to $895.4 billion.
US Bureau of Economic Analysis: U.S. Trade in Goods and Services, 1960-Present; retrieved from Federal Reserve Bank of St. Louis
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