U.S. goods and services trade with ASEAN countries totaled $303 billion in 2017 (latest data available for goods and services trade). Exports totaled $111 billion; Imports totaled $192 billion. The U.S. goods and services trade deficit with ASEAN countries was $82 billion in 2017 (latest data available).
U.S trade with ASEAN was $272.0 billion in total (two way) goods trade during 2018. Goods exports totaled $86.2 billion; goods imports totaled $185.8 billion. The U.S. goods trade deficit with ASEAN was $99.6 billion in 2018.
Trade in services with ASEAN countries (exports and imports) totaled $55 billion in 2017 (latest data available). Exports were $33 billion; Services imports were $22 billion. The U.S. services trade surplus with ASEAN countries was $10 billion in 2017 (latest data available).
According to the Department of Commerce, U.S. Goods exports supported an estimated 356 thousand jobs in 2015 (latest data available).
Exports
- U.S. goods exports to ASEAN in 2018 were $86.2 billion, up 10.6% ($8.2 billion) from 2017 and up 28.9% from 2008. U.S. exports to ASEAN for 5.2% of overall U.S. exports in 2018.
- The top 5 U.S. export markets in the ASEAN countries for 2018 were: Singapore ($33.1 billion), Malaysia ($12.9 billion), Thailand ($12.6 billion), Vietnam ($9.7 billion), and the Philippines ($8.7 billion).
- The top export categories (2-digit HS) in 2018 were: electrical machinery ($16.3 billion), machinery ($10.2 billion), aircraft ($9.0 billion), mineral fuels ($6.8 billion), and optical and medical instruments ($5.5 billion).
- U.S. domestic exports of agricultural products to ASEAN countries totaled $14.2 billion in 2018. Leading categories include: soybeans ($2.4 billion), cotton ($2.3 billion), soybean meal ($1.5 billion), wheat ($1.1 billion), and dairy products ($771 million).
- U.S. exports of services to ASEAN were $30.0 billion in 2017 (latest data available), up 8.7% ($2.6 billion) from 2016, and up 117% from 2007.
Imports
- U.S. goods imports from ASEAN totaled $185.8 billion in 2018, up 9.4% ($16.0 billion) from 2017, and up 68.7% from 2008. U.S. imports from ASEAN account for 7.3% of overall U.S. imports in 2018.
- The top 5 U.S. import suppliers from the ASEAN countries for 2018 were: Vietnam ($49.2 billion), Malaysia ($39.4 billion), Thailand ($31.9 billion), Singapore ($27.3 billion), and Indonesia ($20.9 billion).
- The top import categories (2-digit HS) in 2018 were: electrical machinery ($52.9 billion), machinery ($23.3 billion), knit apparel ($12.8 billion), woven apparel ($8.7 billion), and footwear ($8.3 billion).
- U.S. imports for consumption of agricultural products from ASEAN countries totaled $13.2 billion in 2018. Leading categories include: tropical oils ($2.2 billion), tree nuts ($1.6 billion), rubber & allied products ($1.3 billion), processed fruit & vegetables ($757 million), and coffee, unroasted ($694 million).
- U.S. imports of services from ASEAN were $22.4 billion in 2017 (latest data available), up 6.9% ($1.5 billion) from 2016, and up 132% from 2007.
Trade Balance
- The U.S. goods trade deficit with ASEAN was $99.6 billion in 2018, a 8.4% increase ($7.8 billion) over 2017.
- The United States had a service trade surplus of $10.2 billion with ASEAN countries in 2017 (latest data available), up 12.8% ($1.2 billion) from 2016, and up 90% from 2007.
Investment
- U.S. foreign direct investment (FDI) in ASEAN countries (stock) was $328.8 billion in 2017 (latest data available), up 5.6% from 2016.
- U.S. direct investment in ASEAN countries is led by the nonbank holding companies, manufacturing, and wholesale trade sectors.
- Reported ASEAN countries FDI in the United States countries (stock) was $27.5 billion in 2017 (latest data available), down 5.0% from 2016.
- Reported ASEAN FDI in the U.S. is led by the manufacturing and wholesale trade sectors.
NOTE: Services trade data includes all ASEAN countries except Burma (Myanmar), Cambodia, and Laos.
|
U.S. Goods Trade with ASEAN (in billions of dollars) |
|||||||||
|
|
1995 |
2000 |
2008 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Total |
102.1 |
135.1 |
177.0 |
205.9 |
215.9 |
226.8 |
233.0 |
247.8 |
272.0 |
|
Exports |
40.0 |
47.1 |
66.9 |
79.0 |
78.4 |
74.9 |
74.7 |
78.0 |
86.2 |
|
Imports |
62.1 |
87.9 |
110.1 |
126.9 |
137.5 |
152.0 |
158.4 |
169.8 |
185.8 |
|
Balance |
-22.2 |
-40.8 |
-43.2 |
-47.9 |
-59.1 |
-77.1 |
-83.7 |
-91.8 |
-99.6 |
|
U.S. Agricultural Trade with ASEAN (in billions of dollars) |
|||||||
|
|
2008 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Total |
15.4 |
20.2 |
21.2 |
19.5 |
20.8 |
22.6 |
27.4 |
|
Domestic Exports |
7.0 |
10.7 |
11.4 |
10.0 |
11.2 |
11.7 |
14.2 |
|
Imports for Consumption |
8.4 |
9.5 |
9.8 |
9.5 |
9.6 |
10.9 |
13.2 |
|
Balance |
-1.4 |
1.2 |
1.6 |
0.5 |
1.6 |
0.8 |
1.0 |
|
U.S. Manufacturing Trade with ASEAN (in billions of dollars) |
|||||||||
|
|
1995 |
2000 |
2008 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Total |
NA |
NA |
157.0 |
183.8 |
193.2 |
206.3 |
211.3 |
221.8 |
241.1 |
|
Exports |
NA |
NA |
59.7 |
70.6 |
69.1 |
66.7 |
65.0 |
65.8 |
69.9 |
|
Imports |
NA |
NA |
97.3 |
113.2 |
124.1 |
139.6 |
146.3 |
156.0 |
171.2 |
|
Balance |
NA |
NA |
-37.6 |
-42.6 |
-55.0 |
-72.8 |
-81.3 |
-90.2 |
-101.3 |
| U.S. Services Trade with ASEAN (in billions of dollars) | |||||||||
|
|
1995 |
2007 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Total |
NA |
24.7 |
40.0 |
38.2 |
41.4 |
46.1 |
51.0 |
55.1 |
NA |
|
Exports |
NA |
15.0 |
25.1 |
23.0 |
24.2 |
27.1 |
30.0 |
32.6 |
NA |
|
Imports |
NA |
9.7 |
14.9 |
15.3 |
17.2 |
19.0 |
21.0 |
22.4 |
NA |
|
Balance |
NA |
5.4 |
10.1 |
7.7 |
7.1 |
8.1 |
9.0 |
10.2 |
NA |
Last Updated: April 30, 2019
