USA: Trade openness
* indicates monthly or quarterly data series
| USA |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 24.90 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1970 - 2023 |
| Average | 21.85 |
| Min - Max | 10.76 - 30.84 |
| Source | The World Bank |
The latest value from 2023 is 24.9 percent, a decline from 26.89 percent in 2022. In comparison, the world average is 94.91 percent, based on data from 153 countries. Historically, the average for the USA from 1970 to 2023 is 21.85 percent. The minimum value, 10.76 percent, was reached in 1970 while the maximum of 30.84 percent was recorded in 2011.
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* indicates monthly or quarterly data series
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Definition: Exports plus imports as percent of GDP.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 104.65 | 2021 | percent |
| Trade openness | 24.90 | 2023 | percent |
| Financial openness | 2.299 | 2021 | index points |
| Exports, percent of GDP | 11.01 | 2023 | percent |
| Exports, billion dollars | 3,052.47 | 2023 | billion U.S. dollars |
| Growth of exports | 6.96 | 2022 | percent |
| Imports, percent of GDP | 15.41 | 2022 | percent |
| Imports, billion dollars | 3,849.81 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.27 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 348.78 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | 133,015.00 | 2023 | million dollars (current) |
| Current account, percent of GDP | -3.00 | 2023 | percent |
| Current account, in dollars | -905.38 | 2023 | billion U.S. dollars |
| Current Account, quarterly | -6.01 | 3/2025 | percent |
| Trade balance, percent of GDP | -3.77 | 2022 | percent |
| Trade balance, in dollars | -784.89 | 2023 | billion U.S. dollars |
| Reserves | 773.43 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.03 | 2023 | percent |
| Remittances | 7,222.96 | 2023 | million U.S. dollars |
| Net errors and omissions | -12,428.00 | 2023 | million USD |
| Foreign exchange reserves | 245.63 | 3/2025 | billion |