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. Thursday, October 19, 2000 CB-00-173 Press Copy FT-900 (00-08) 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 August 2000 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total August exports of $93.0 billion and imports of $122.5 billion resulted in a goods and services deficit of $29.4 billion, $2.3 billion less than the $31.7 billion in July, revised. August exports were $3.2 billion more than July exports of $89.8 billion. August imports were $1.0 billion more than July imports of $121.5 billion. In August, the goods deficit decreased $2.1 billion from July to $36.4 billion, and the services surplus increased $0.1 billion to $7.0 billion. Exports of goods increased to $68.0 billion from $65.1 billion, and imports of goods increased to $104.4 billion from $103.6 billion. Exports of services increased to $25.1 billion from $24.7 billion, and imports of services increased to $18.1 billion from $17.9 billion. Goods The July to August change in exports of goods reflected increases in capital goods ($1.2 billion); industrial supplies and materials ($0.9 billion); automotive vehicles, parts, and engines ($0.7 billion); foods, feeds, and beverages ($0.2 billion); and consumer goods ($0.2 billion). A decrease occurred in other goods ($0.1 billion). The July to August change in imports of goods reflected increases in capital goods ($1.2 billion); consumer goods ($0.2 billion); and other goods ($0.2 billion). Decreases occurred in industrial supplies and materials ($0.7 billion) and automotive vehicles, parts, and engines ($0.3 billion). Foods, feeds, and beverages were virtually unchanged. Services Services exports increased $0.4 billion from July to August. The increase was mostly accounted for by increases in other private services (mainly business, professional, and technical services and financial services) and travel. Changes in the other categories of services exports were small. Services imports increased $0.2 billion from July to August, reflecting small increases in nearly every category. Goods and Services Moving Average For the three months ending in August, exports of goods and services averaged $91.3 billion, while imports of goods and services averaged $121.6 billion, resulting in an average trade deficit of $30.3 billion. For the three months ending in July, the average trade deficit was $30.4 billion, reflecting average exports of $89.2 billion and average imports of $119.7 billion. Selected Not Seasonally Adjusted Goods Details The August figures showed surpluses, in billions of dollars, with Australia $0.5 (for July $0.4), Egypt $0.2 ($0.2), Hong Kong $0.2 ($0.1), Argentina $0.1 ($0.1), and Brazil $0.0 ($0.1). Deficits were recorded, in billions of dollars, with China -$8.6 (-$7.6), Japan -$6.8 (-$7.5), Western Europe -$5.2 (-$7.2), Canada -$4.5 (-$4.6), OPEC -$4.4 (-$4.5), Mexico -$1.9 (-$2.2), Taiwan -$1.4 (-$1.0), Korea -$1.2 (-$1.2), and Singapore -$0.2 (-$0.1). Advanced technology products (ATP) exports were $19.7 billion in August and imports were $20.1 billion, resulting in a deficit of $0.4 billion. August exports were $1.6 billion more than the $18.1 billion in July, while imports were $1.6 billion more than the $18.5 billion in July. Revisions Goods carry-over in August was $0.6 billion (1.0 percent) for exports and $0.7 billion (0.7 percent) for imports. For July, revised export carry-over was $0.7 billion (1.2 percent), revised down from $1.2 billion (2.0 percent). For July, revised import carry-over was $0.3 billion (0.3 percent), revised down from $0.9 billion (0.9 percent). Services exports for July were virtually unrevised at $24.7 billion. Services imports for July were virtually unrevised at $17.9 billion. Table of Contents August 2000 August 1995 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-00-173), Bureau of the Census, Foreign Trade Division, August 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.