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
