United States Department of COMMERCE NEWS Washington, D.C. 20230 ECONOMICS AND STATISTICS ADMINISTRATION ------------ Bureau of the Census Bureau of Economic Analysis This release contains sensitive economic data not to be released before 8:30 a.m. Wednesday, July 19, 2000 CB-00-109 Press Copy FT-900 (00-05) 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 May 2000 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total May exports of $85.7 billion and imports of $116.8 billion resulted in a goods and services deficit of $31.0 billion, $0.5 billion more than the $30.5 billion in April, revised. May exports were $0.8 billion less than April exports of $86.6 billion. May imports were $0.3 billion less than April imports of $117.1 billion. In May, the goods deficit increased $0.3 billion from April to $37.2 billion, and the services surplus decreased $0.3 billion to $6.1 billion. Exports of goods decreased to $62.0 billion from $62.6 billion, and imports of goods decreased to $99.1 billion from $99.5 billion. Exports of services decreased to $23.8 billion from $24.0 billion, and imports of services were virtually unchanged at $17.6 billion. Goods The April to May change in exports of goods reflected decreases in capital goods ($0.2 billion); other goods ($0.1 billion); industrial supplies and materials ($0.1 billion); and consumer goods ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($0.1 billion) and foods, feeds, and beverages ($0.1 billion). The April to May change in imports of goods reflected decreases in automotive vehicles, parts, and engines ($0.8 billion) and other goods ($0.2 billion). Increases occurred in industrial supplies and materials ($0.4 billion); capital goods ($0.1 billion); and consumer goods ($0.1 billion). Foods, feeds, and beverages were virtually unchanged. Services Services exports decreased $0.2 billion from April to May. The decrease was mostly accounted for by decreases in travel and other transportation. Changes in the other categories of services exports were small. Services imports in May were virtually the same as in April. Small increases in several categories of imports were offset by small decreases in others. Goods and Services Moving Average For the three months ending in May, exports of goods and services averaged $86.4 billion, while imports of goods and services averaged $117.1 billion, resulting in an average trade deficit of $30.7 billion. For the three months ending in April, the average trade deficit was $29.8 billion, reflecting average exports of $86.0 billion and average imports of $115.8 billion. Selected Not Seasonally Adjusted Goods Details The May figures showed surpluses, in billions of dollars, with Australia $0.5 (for April $0.6), Hong Kong $0.2 ($0.4), Egypt $0.2 ($0.1), Argentina $0.1 ($0.2), and Brazil $0.1 ($0.0). Deficits were recorded, in billions of dollars, with Japan -$6.9 (-$7.3), China -$6.3 (-$5.8), Western Europe -$5.7 (-$4.6), OPEC -$4.1 (-$3.5), Canada -$4.0 (-$3.7), Mexico -$2.5 (-$1.5), Taiwan -$1.5 (-$1.2), Korea -$0.7 (-$0.5), and Singapore -$0.3 (-$0.1). Advanced technology products (ATP) exports were $18.3 billion in May and imports were $17.8 billion, resulting in a surplus of $0.5 billion. May exports were $0.3 billion more than the $18.0 billion in April, while imports were $1.3 billion more than the $16.5 billion in April. Revisions Goods carry-over in May was $0.3 billion (0.5 percent) for exports and $0.6 billion (0.6 percent) for imports. For April, revised export carry-over was $0.2 billion (0.3 percent), revised down from $0.7 billion (1.1 percent). For April, revised import carry-over was virtually zero, revised down from $0.6 billion (0.6 percent). Services exports for April were revised slightly downward to $24.0 billion. Services imports for April were virtually unrevised at $17.6 billion. Table of Contents 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-00-109), Bureau of the Census, Foreign Trade Division, May 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.