The expected value of U.S.-China commerce in products and services increased by 2.6 percent ($17 billion) from 2023 to $658.9 billion in 2024.
The expected value of the United States’ overall goods trade (imports + exports) with China in 2024 was $582.0 billion. In 2024, U.S. goods exports to China were $143.2 billion, a decrease of $4.4 billion or 3.0% from 2023. In 2024, the United States imported $438.7 billion worth of products from China, an increase of 2.7 percent ($11.5 billion) over 2023. In 2024, the U.S. goods trade deficit with China was $295.5 billion, up $15.9 billion or 5.7 percent from 2023.
In 2024, the expected value of U.S.-China services trade (exports + imports) was $76.9 billion. In 2024, U.S. services exports to China were $55.0 billion, up $17.3 billion or 15.3% from 2023. In 2024, the United States imported $21.9 billion worth of services from China, a 13.3 percent ($2.6 billion) increase over 2023. In 2024, the U.S. services trade surplus with China was $33.2 billion, up $14.8 billion or 16.7% from 2023.l