China’s $171 Billion Services Trade Deficit in 2023 vs. U.S. and EU Surpluses of $278 Billion and $177 Billion

- U.S. Services Trade (2023): $1,027 billion in exports, $748 billion in imports, and a $278 billion trade surplus. The surplus was driven by business services ($276 billion) and financial services ($113 billion).

- EU Services Trade (2023): $1,500 billion in exports, $1,323 billion in imports, resulting in a $177 billion trade surplus. Key contributors were telecommunications, computer, and information services ($188 billion) and travel services ($67 billion).

- China Services Trade (2023): $381 billion in exports, $552 billion in imports, leading to a $171 billion trade deficit. The deficit was primarily due to travel services ($182 billion) and charges for the use of intellectual property ($41 billion).