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. Friday, January 18, 2002 CB-02-09 Press Copy FT-900 (01-11) 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: Ed Dozier (202) 606-9559 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES November 2001 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total November exports of $78.2 billion and imports of $106.1 billion resulted in a goods and services deficit of $27.9 billion, $1.4 billion less than the $29.3 billion in October, revised. November exports were $0.6 billion more than October exports of $77.6 billion. November imports were $0.9 billion less than October imports of $107.0 billion. In November, the goods deficit decreased $1.1 billion from October to $34.0 billion, and the services surplus increased $0.4 billion to $6.1 billion. Exports of goods decreased to $56.2 billion from $56.6 billion, and imports of goods decreased to $90.2 billion from $91.6 billion. Exports of services increased to $22.0 billion from $21.1 billion, and imports of services increased to $15.9 billion from $15.3 billion. Goods The October to November change in exports of goods reflected decreases in industrial supplies and materials ($0.3 billion); consumer goods ($0.1 billion); other goods ($0.1 billion); and automotive vehicles, parts, and engines ($0.1 billion). Increases occurred in capital goods ($0.1 billion) and foods, feeds, and beverages ($0.1 billion). The October to November change in imports of goods reflected a decrease in industrial supplies and materials ($1.7 billion). Increases occurred in automotive vehicles, parts, and engines ($0.2 billion) and consumer goods ($0.1 billion). Capital goods; foods, feeds, and beverages; and other goods were virtually unchanged. Services The increase in the services surplus in November reflected a larger rebound in travel and passenger fare receipts--from post-September 11 lows recorded in October--than in travel and passenger fare payments. Services exports increased $0.9 billion from October to November. The increase was accounted for by a $0.9 billion increase in travel and passenger fares. Changes in the other categories of services exports were small. Services imports increased $0.6 billion from October to November. The increase was accounted for by a $0.6 billion increase in travel and passenger fares. Changes in the other categories of services imports were small. Goods and Services Moving Average For the three months ending in November, exports of goods and services averaged $77.5 billion, while imports of goods and services averaged $103.0 billion, resulting in an average trade deficit of $25.4 billion. For the three months ending in October, the average trade deficit was $25.5 billion, reflecting average exports of $79.4 billion and average imports of $104.9 billion. Selected Not Seasonally Adjusted Goods Details The November figures showed surpluses, in billions of dollars, with Egypt $0.3 (for October $0.6), Australia $0.3 ($0.3), Hong Kong $0.3 ($0.1), Singapore $0.2 ($0.5), and Brazil $0.2 (deficit of $0.1). Deficits were recorded, in billions of dollars, with China $7.2 ($9.2), Western Europe $6.3 ($7.6), Japan $5.9 ($7.0), Canada $3.8 ($3.8), Mexico $2.5 ($2.6), OPEC $2.1 ($3.1), Taiwan $1.2 ($1.5), and Korea $1.2 ($1.6). Advanced technology products (ATP) exports were $15.0 billion in November and imports were $16.2 billion, resulting in a deficit of $1.2 billion. November exports were $0.7 billion less than the $15.7 billion in October, while imports were $0.7 billion less than the $16.9 billion in October. Revisions Goods carry-over in November was $0.4 billion (0.7 percent) for exports and $0.9 billion (1.0 percent) for imports. For October, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent). For October, revised import carry-over was $0.2 billion (0.2 percent), revised down from $0.9 billion (0.9 percent). Services exports for October were revised up $0.3 billion to $21.1 billion; the revision was more than accounted for by upward revisions in travel and passenger fares. Services imports for October were revised up $0.2 billion to $15.3 billion; the revision was more than accounted for by upward revisions in travel and passenger fares. Scheduled release dates in 2002 are located on page 30 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 (1996 Constant Dollars) . . . . .....................15 Exhibit 11 Exports, Imports, and Balance of Goods, Petroleum and Non- Petroleum End-Use Commodity Category Totals (1996 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-02-09), Bureau of the Census, Foreign Trade Division, November 2001. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.