This release contains sensitive economic data not to be released before 8:30 a.m. Friday, May 19, 2000 CB-00-83 Press Copy FT-900 (00-03) For information on goods contact: Bureau of the Census: Haydn R. Mearkle (301) 457-2246 Nick Orsini (301) 457-2311 For information on services contact: Bureau of Economic Analysis: Technical: Christopher Bach (202) 606-9545 Media: Larry Moran (202) 606-2649 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES March 2000 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total March exports of $87.3 billion and imports of $117.4 billion resulted in a goods and services deficit of $30.2 billion, $1.5 billion more than the deficit of $28.7 billion in February, revised. March exports were $2.4 billion more than February exports of $84.8 billion. March imports were $3.9 billion more than February imports of $113.6 billion. In March, the goods deficit increased $1.7 billion from February to $37.0 billion, and the services surplus increased $0.2 billion to $6.9 billion. Exports of goods increased to $62.7 billion from $60.8 billion, and imports of goods increased to $99.7 billion from $96.2 billion. Exports of services increased to $24.6 billion from $24.0 billion, and imports of services increased to $17.7 billion from $17.3 billion. Goods The February to March change in exports of goods reflected increases in industrial supplies and materials of $1.0 billion (the largest were fuel oil and other industrial supplies); capital goods ($0.6 billion); automotive vehicles, parts, and engines ($0.3 billion); and foods, feeds, and beverages ($0.1 billion). A decrease occurred in other goods ($0.7 billion). Consumer goods were virtually unchanged. The February to March change in imports of goods reflected increases in consumer goods of $1.2 billion (primarily pharmaceutical preparations and apparel); automotive vehicles, parts, and engines ($1.0 billion); industrial supplies and materials ($0.8 billion); capital goods ($0.5 billion); and foods, feeds, and beverages ($0.2 billion). Other goods were virtually unchanged. Note: Total goods are reported on a balance of payments basis; commodity and country detail for goods are on a Census basis. Definitions are explained in the notes starting on page 26 of this release. Services Services exports increased $0.6 billion from February to March. The increase was mostly attributable to other private services, as stepped-up activity in U.S. financial markets increased commission receipts from nonresidents, and travel, which reflected an increase in the number of foreign visitors to the United States. Changes in the other categories of services exports were small. Services imports increased $0.4 billion from February to March. The increase was mostly attributable to travel, reflecting an increase in the number of U.S. travelers abroad, other transportation, and passenger fares. Changes in the other categories of services imports were small. Goods and Services Moving Average For the three months ending in March, exports of goods and services averaged $85.5 billion, while imports of goods and services averaged $114.3 billion, resulting in an average trade deficit of $28.8 billion. For the three months ending in February, the average trade deficit was $26.9 billion, reflecting average exports of $84.9 billion and average imports of $111.8 billion. Selected Not Seasonally Adjusted Goods Details The March figures showed surpluses, in billions of dollars, with Australia $0.6 (for February $0.6), Hong Kong $0.5 ($0.2), Singapore $0.2 (-$0.2), Argentina $0.2 ($0.1), Egypt $0.1 ($0.4), and Brazil $0.1 ($0.0). Deficits were recorded, in billions of dollars, with Japan -$6.8 (-$6.7), Western Europe -$5.9 (-$3.5), China -$5.1 (-$5.6), OPEC -$4.2 (-$3.2), Canada -$3.9 (-$3.1), Mexico -$1.9 (-$2.0), Taiwan -$1.2 (-$1.3), and Korea -$0.7 (-$0.7). Advanced technology products (ATP) exports were $18.7 billion in March and imports were $17.6 billion, resulting in a surplus of $1.2 billion. March exports were $2.4 billion more than the $16.4 billion in February, while imports were $2.1 billion more than the $15.5 billion in February. Revisions Goods carry-over in March was $1.3 billion (1.9 percent) for exports and $1.0 billion (1.0 percent) for imports. For February, revised export carry-over was $0.4 billion (0.7 percent), revised down from $1.2 billion (2.0 percent). For February, revised import carry-over was $0.3 billion (0.3 percent), revised down from $1.2 billion (1.3 percent). Services exports for February were virtually unrevised at $24.0 billion. Services imports for February were revised slightly upward to $17.3 billion. *NOTICE* Beginning with the April 2000 statistical data, which will be released on June 20, 2000, the Bureau of the Census will begin publishing Exhibits 10 and 11 of the FT-900, using 1996 as the base year for the constant dollar series. Historical data for 1996 through 1998, with 1996 as the base year, will be available upon request. Contact the Data Dissemination Branch at (301) 457-2311 or visit the Foreign Trade Division's website at: www.census.gov/foreign-trade. Seasonally Adjusted Exhibit 1 International Trade in Goods and Services. . . . . . .........4 Exhibit 2 Goods and Services Centered Three - Month Moving Averages.....5 Exhibit 3 U.S. Services by Major Category--Exports . . . . . ...........6 Exhibit 4 U.S. Services by Major Category--Imports . . . . . ...........7 Exhibit 5 U.S. Trade in Goods. . . . . . . . . . . . . . . . ...........8 Exhibit 6 Exports and Imports of Goods by Principal End-Use Category....9 Exhibit 7 Exports of Goods by End-Use Category and Commodity ..........10 Exhibit 8 Imports of Goods by End-Use Category and Commodity ..........12 Exhibit 9 Petroleum and Non-Petroleum End-Use Category Totals......... 14 Exhibit 10 Exports and Imports of Goods by Principal End-Use Category (Constant Dollars) . . . . . . .....................15 Exhibit 11 Exports, Imports, and Balance of Goods, Petroleum and Non- Petroleum End-Use Commodity Category Totals (Constant Dollars)...........................................16 Not Seasonally Adjusted Exhibit 12 U.S. Trade in Goods. . . . . . . . . . . . . . . ............17 Exhibit 13 Exports and Imports of Goods by Principal End-Use Category...18 Exhibit 14 Exports, Imports, and Balance of Goods by Selected Countries and Areas . . . . . . . . . . . . . . . .........19 Exhibit 15 Exports and Imports of Goods by Principal SITC Commodity Groupings....................................................21 Exhibit 16 Exports, Imports, and Balance of Advanced Technology Products.....................................................23 Exhibit 17 Imports of Energy - Related Petroleum Products, Including Crude Petroleum . . . . . . . . . . . . . .........24 Exhibit 18 Exports and Imports of Motor Vehicles and Parts By Selected Countries....................................................25 Information on Goods and Services. . . . . . . . . . . . . . . .........26 SOURCE: Report FT900 (CB-00-83), Bureau of the Census, Foreign Trade Division, March 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.