Net exports (exports less imports or X-M) is one of the components of GDP. In the U.S., net exports are negative, meaning imports are greater than exports. This is a trade deficit. Mathematically, a trade deficit reduces GDP, other things equal. The U.S. trade deficit decreased from $627.7 billion in 2019 to $617.7 billion in 2018, down $10.9 billion or 1.7%.^[1] The U.S. trade deficit with China (goods only) decreased from $420 billion in 2018 to $346 billion in 2019, down $74 billion or 20%.^[2] The Federal Reserve Economic Data (FRED) chart containing the trade deficit and GDP data for the image is available at the citations.^[3]

References

Obtaining data

• The trade deficit data is available here: BEA - Trade News Release. Use the interactive tables option to get the period needed.
• The GDP data is available here: BEA-GDP News Release Use the interactive tables, Table 1.1.5 GDP for the nominal GDP.