U.S. energy trade lowers the overall 2020 U.S. trade deficit for the first time on record

In 2020, the U.S. net merchandise trade value of energy products—the value of petroleum, natural gas, coal, and electricity exports less the value of their imports—was a surplus of $27 billion. This amount marks the first time the value of U.S. energy exports exceeded imports since at least 1974, the earliest year in the U.S. Census Bureau’s trade value data.