Figure 1

US imports have been higher this year through July compared with 2024

Cumulative US real merchandise imports and exports, expressed in 2024 prices, billions of dollars, January–July 2024 and January–July 2025

(Please use a modern browser to see the interactive version of this visualization)

Notes: Cumulative free alongside ship (FAS) export values and cost, insurance and freight (CIF) import values for 2025 are adjusted using the corresponding monthly export price index (2024-2025). The trade balance in 2025 is calculated as adjusted exports minus adjusted imports.

Source: United States International Trade Commission (USITC) DataWeb; US Bureau of Labor Statistics via Federal Reserve Economic Data (FRED), import price index and export price index.Download image