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. Tuesday, December 19, 2000 CB-00-213 Press Copy FT-900 (00-10) 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 October 2000 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total October exports of $91.2 billion and imports of $124.4 billion resulted in a goods and services deficit of $33.2 billion, $0.6 billion less than the $33.7 billion in September, revised. October exports were $1.4 billion less than September exports of $92.7 billion. October imports were $2.0 billion less than September imports of $126.4 billion. In October, the goods deficit increased $0.2 billion from September to $39.5 billion, and the services surplus increased $0.7 billion to $6.3 billion. Exports of goods decreased to $66.4 billion from $67.8 billion, and imports of goods decreased to $105.9 billion from $107.2 billion. Exports of services were virtually unchanged at $24.8 billion, and imports of services decreased to $18.5 billion from $19.2 billion. Goods The September to October change in exports of goods reflected decreases in capital goods ($0.5 billion); consumer goods ($0.4 billion); industrial supplies and materials ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). An increase occurred in automotive vehicles, parts, and engines ($0.1 billion). Other goods were virtually unchanged. The September to October change in imports of goods reflected decreases in industrial supplies and materials ($0.5 billion); capital goods ($0.5 billion); other goods ($0.1 billion); foods, feeds, and beverages ($0.1 billion); and automotive vehicles, parts, and engines ($0.1 billion). An increase occurred in consumer goods ($0.1 billion). Services Services exports in October were virtually the same as in September, as a decrease in travel was nearly offset by an increase in other private services. Changes in the other categories of services exports were small. Services imports decreased $0.7 billion from September to October, mostly reflecting a decrease in royalties and license fees. Royalties and license fees had been boosted in September by payments for broadcast rights for the 2000 Summer Olympic Games. Changes in the other categories of services imports were small. Goods and Services Moving Average For the three months ending in October, exports of goods and services averaged $92.3 billion, while imports of goods and services averaged $124.6 billion, resulting in an average trade deficit of $32.3 billion. For the three months ending in September, the average trade deficit was $31.9 billion, reflecting average exports of $91.7 billion and average imports of $123.6 billion. Selected Not Seasonally Adjusted Goods Details The October figures showed surpluses, in billions of dollars, with Australia $0.5 (for September $0.4), Brazil $0.5 ($0.3), Hong Kong $0.3 ($0.1), Egypt $0.3 ($0.2), and Argentina $0.1 ($0.1). Deficits were recorded, in billions of dollars, with China -$9.1 (-$8.7), Japan -$8.4 (-$6.1), Western Europe -$6.1 (-$4.4), Canada -$4.7 (-$4.5), OPEC -$4.3 (-$4.2), Mexico -$2.4 (-$2.7), Taiwan -$1.6 (-$1.7), and Korea -$1.4 (-$1.2). Advanced technology products (ATP) exports were $20.5 billion in October and imports were $21.4 billion, resulting in a deficit of $0.9 billion. October exports were $0.4 billion more than the $20.1 billion in September, while imports were $0.2 billion more than the $21.2 billion in September. Revisions Goods carry-over in October was $1.1 billion (1.6 percent) for exports and $0.7 billion (0.6 percent) for imports. For September, revised export carry-over was $0.3 billion (0.4 percent), revised down from $0.5 billion (0.7 percent). For September, revised import carry-over was $0.3 billion (0.3 percent), revised down from $1.1 billion (1.0 percent). Services exports and imports for April through September 2000 were revised to incorporate revisions to BEA's quarterly U.S. international transactions accounts, which were released December 14 (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 September were revised down $0.2 billion to $24.8 billion; the revision was more than accounted for by downward revisions in other private services and royalties and license fees. Services imports for September were revised up $0.1 billion to $19.2 billion; the revision was mostly accounted for by an upward revision in travel. Scheduled Release Dates In 2001 are Located on Page 29 Table of Contents October 2000 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-00-213), Bureau of the Census, Foreign Trade Division, October 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.