U.S. Trade in Financial Services: 2010–14

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  • U.S. exports increased by 4.8 percent annually to $104.7 billion in 2014
  • U.S. imports decreased by 2.5 percent annually to $69.6 billion in 2014

U.S. exports of financial services increased by $18.0 billion during 2010–14, while U.S. imports declined by $7.4 billion, resulting in a trade surplus of $35.1 billion in 2014. The rising trade surplus during the period is due, in large part, to an increasing surplus with the European Union (EU). The EU has consistently been the leading U.S. export market for financial services during 2010–14, while Bermuda has been the largest supplier of financial services to the United States (a result of Bermuda’s position as an important supplier of reinsurance services). For more information on U.S. trade in financial services, see chapters 2­–5 of Recent Trends in U.S. Services Trade: 2016 Annual Report