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, September 20, 2000 CB-00-149 Press Copy FT-900 (00-07) 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: Ralph Morris (202) 606-2649 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES July 2000 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total July exports of $89.7 billion and imports of $121.6 billion resulted in a goods and services deficit of $31.9 billion, $2.0 billion more than the $29.8 billion in June, revised. July exports were $1.3 billion less than June exports of $91.0 billion. July imports were $0.7 billion more than June imports of $120.8 billion. In July, the goods deficit increased $1.8 billion from June to $38.7 billion, and the services surplus decreased $0.2 billion to $6.8 billion. Exports of goods decreased to $65.0 billion from $66.5 billion, and imports of goods increased to $103.7 billion from $103.3 billion. Exports of services increased to $24.7 billion from $24.5 billion, and imports of services increased to $17.9 billion from $17.5 billion. Goods The June to July change in exports of goods reflected decreases in automotive vehicles, parts, and engines ($0.5 billion), other goods ($0.4 billion); capital goods ($0.4 billion); industrial supplies and materials ($0.3 billion); and consumer goods ($0.2 billion). Foods, feeds, and beverages were virtually unchanged. The June to July change in imports of goods reflected increases in industrial supplies and materials of $0.4 billion (primarily crude oil and natural gas); automotive vehicles, parts, and engines ($0.3 billion); foods, feeds, and beverages ($0.1 billion). Decreases occurred in capital goods ($0.1 billion) and consumer goods ($0.1 billion). Other goods were virtually unchanged. Services Services exports increased $0.2 billion from June to July. The largest increase was in travel. Changes in the other categories of services exports were small. Services imports increased $0.4 billion from June to July. The increase was mostly accounted for by increases in travel, other transportation, and other private services. Changes in the other categories of services imports were small. Goods and Services Moving Average For the three months ending in July, exports of goods and services averaged $89.2 billion, while imports of goods and services averaged $119.7 billion, resulting in an average trade deficit of $30.5 billion. For the three months ending in June, the average trade deficit was $29.8 billion, reflecting average exports of $88.4 billion and average imports of $118.1 billion. Selected Not Seasonally Adjusted Goods Details The July figures showed surpluses, in billions of dollars, with Australia $0.4 (for June $0.6), Egypt $0.2 ($0.3), Argentina $0.1 ($0.1), Brazil $0.1 ($0.1), and Hong King $0.1 ($0.3). Deficits were recorded, in billions of dollars, with China -$7.6 (-$7.2), Japan -$7.5 (-$6.3), Western Europe -$7.2 (-$4.3), Canada -$4.7 (-$4.1), OPEC -$4.5 (-$4.6), Mexico -$2.2 (-$2.3), Korea -$1.2 (-$0.9), Taiwan -$1.0 (-$1.2), and Singapore -$0.1 (-$0.1). Advanced technology products (ATP) exports were $18.1 billion in July and imports were $18.5 billion, resulting in a deficit of $0.4 billion. July exports were $2.1 billion less than the $20.3 billion in June, while imports were $0.5 billion less than the $19.0 billion in June. Revisions Goods carry-over in July was $1.2 billion (2.0 percent) for exports and $0.9 billion (0.9 percent) for imports. For June, revised export carry-over was $0.4 billion (0.6 percent), revised down from $1.1 billion (1.6 percent). For June, revised import carry-over was $0.2 billion (0.2 percent), revised down from $0.8 billion (0.8 percent). Services exports and imports for January through June 2000 were revised to incorporate revisions to BEA's quarterly U.S. international transactions accounts, which were released September 13 (see page 29 for the monthly revision policy). The revised quarterly and monthly estimates are based on more complete source data than were available previously. Services exports for June were revised up $0.5 billion to $24.5 billion; the revision was mostly accounted for by upward revisions in travel and royalties and license fees. Services imports for June were revised down $0.3 billion to $17.5 billion; the revision was mostly accounted for by downward revisions in other private services and royalties and license fees. 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-00-149), Bureau of the Census, Foreign Trade Division, July 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.