External balance on goods and services in North America
North America: External balance on goods and services was -2.8% in 2024. ◆ Volatile
External balance on goods and services in North America, 1970–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
North America recorded -2.8% for external balance on goods and services in 2024.
Compared with earlier readings it is down 9.4% on the previous year and down 5.7% over ten years.
Over the whole period, external balance on goods and services in North America peaked at 0.7% in 1975 and was at its lowest, -4.9%, in 2006.
That places North America 34th out of 44 groups with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in North America, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 0.5% | — |
| 1971 | 0.2% | -69.2% |
| 1972 | -0.2% | -219.7% |
| 1973 | 0.4% | -292.3% |
| 1974 | -0.0% | -113.3% |
| 1975 | 0.7% | -1523.2% |
| 1976 | -0.2% | -123.3% |
| 1977 | -1.0% | +546.1% |
| 1978 | -1.0% | -6.9% |
| 1979 | -0.7% | -22.9% |
| 1980 | -0.3% | -65.2% |
| 1981 | -0.3% | +11.8% |
| 1982 | -0.2% | -26.1% |
| 1983 | -1.0% | +379.5% |
| 1984 | -2.1% | +101.2% |
| 1985 | -2.2% | +9.1% |
| 1986 | -2.6% | +15.3% |
| 1987 | -2.6% | +2.1% |
| 1988 | -1.8% | -30.6% |
| 1989 | -1.4% | -24.3% |
| 1990 | -1.2% | -16.0% |
| 1991 | -0.5% | -60.5% |
| 1992 | -0.5% | +10.3% |
| 1993 | -0.9% | +70.5% |
| 1994 | -1.1% | +24.9% |
| 1995 | -0.8% | -21.5% |
| 1996 | -0.8% | -4.3% |
| 1997 | -1.0% | +17.9% |
| 1998 | -1.5% | +60.8% |
| 1999 | -2.3% | +47.6% |
| 2000 | -3.1% | +35.3% |
| 2001 | -2.9% | -4.2% |
| 2002 | -3.5% | +17.7% |
| 2003 | -3.9% | +13.5% |
| 2004 | -4.4% | +12.7% |
| 2005 | -4.9% | +9.9% |
| 2006 | -4.9% | +1.6% |
| 2007 | -4.4% | -11.0% |
| 2008 | -4.4% | -1.0% |
| 2009 | -2.8% | -36.7% |
| 2010 | -3.4% | +21.9% |
| 2011 | -3.4% | +2.2% |
| 2012 | -3.2% | -6.0% |
| 2013 | -2.7% | -16.5% |
| 2014 | -2.7% | -0.1% |
| 2015 | -2.8% | +4.8% |
| 2016 | -2.6% | -6.4% |
| 2017 | -2.7% | +2.8% |
| 2018 | -2.8% | +2.7% |
| 2019 | -2.6% | -7.6% |
| 2020 | -2.8% | +9.9% |
| 2021 | -3.3% | +15.7% |
| 2022 | -3.3% | -0.3% |
| 2023 | -2.6% | -20.5% |
| 2024 | -2.8% | +9.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -0.1% | -1.0% | 0.7% | 10 |
| 1980s | -1.5% | -2.6% | -0.2% | 10 |
| 1990s | -1.0% | -2.3% | -0.5% | 10 |
| 2000s | -3.9% | -4.9% | -2.8% | 10 |
| 2010s | -2.9% | -3.4% | -2.6% | 10 |
| 2020s | -3.0% | -3.3% | -2.6% | 5 |
Countries ranked near North America
More economy & growth data for North America
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0145 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,224 BoP, current US$ per person (2025)
- Foreign direct investment, net outflows (BoP, current US$), gaps 479.40 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1,250 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 30.35 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0142 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 469.55 billion BoP, current US$ (2025)
- GDP (current US$), annual growth rate 4.82 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.7546 current US$ per US$ of GDP (2021)
- Services, value added (current US$), per capita 52,472 current US$ per person (2021)
Frequently asked questions
- What is external balance on goods and services in North America?
- External balance on goods and services in North America was -2.8% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in North America?
- The highest recorded value was 0.7% in 1975.
- What is the lowest external balance on goods and services recorded in North America?
- The lowest recorded value was -4.9% in 2006.
- How does North America rank for external balance on goods and services?
- North America ranks 34th out of 44 groups with data for 2024.
- Is external balance on goods and services rising or falling in North America?
- Over the last ten years it is down 5.7%. The long-run trend across the full record is volatile.
- Where does this North America data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.