United States Department of COMMERCE NEWS Washington, D.C. 20230 ECONOMICS AND STATISTICS ADMINISTRATION ------------ U.S. Census Bureau Bureau of Economic Analysis This release contains sensitive economic data not to be released before 8:30 a.m. Tuesday, August 20, 2002 CB-02-108 Press Copy FT-900 (02-06) For information on goods contact: U.S. Census Bureau: 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 June 2002 Goods and Services The U.S. Census Bureau and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total June exports of $82.0 billion and imports of $119.2 billion resulted in a goods and services deficit of $37.2 billion, $0.7 billion less than the $37.8 billion in May, revised. June exports were $1.3 billion more than May exports of $80.7 billion. June imports were $0.7 billion more than May imports of $118.5 billion. In June, the goods deficit decreased $0.9 billion from May to $40.8 billion, and the services surplus decreased $0.2 billion to $3.6 billion. Exports of goods increased to $58.5 billion from $57.3 billion, and imports of goods increased to $99.3 billion from $99.0 billion. Exports of services increased to $23.5 billion from $23.4 billion, and imports of services increased to $19.9 billion from $19.5 billion. Goods The May to June change in exports of goods reflected increases in capital goods ($0.9 billion); foods, feeds, and beverages ($0.3 billion); consumer goods ($0.3 billion); and industrial supplies and materials ($0.1 billion). Decreases occurred in other goods ($0.3 billion) and automotive vehicles, parts, and engines ($0.1 billion). The May to June change in imports of goods reflected increases in consumer goods ($0.6 billion); other goods ($0.3 billion); and capital goods ($0.3 billion). Decreases occurred in automotive vehicles, parts, and engines ($0.5 billion) and industrial supplies and materials ($0.3 billion). Foods, feeds, and beverages were virtually unchanged. Services Services exports increased $0.2 billion from May to June. The increase was mostly accounted for by an increase in travel. Changes in the other categories of services exports were small. Services imports increased $0.4 billion from May to June. More than half of the increase was accounted for by an increase in royalties and license fees. Changes in the other categories of services imports were small. Goods and Services Moving Average For the three months ending in June, exports of goods and services averaged $80.9 billion, while imports of goods and services averaged $118.0 billion, resulting in an average trade deficit of $37.0 billion. For the three months ending in May, the average trade deficit was $35.5 billion, reflecting average exports of $79.7 billion and average imports of $115.2 billion. Selected Not Seasonally Adjusted Goods Details The June figures showed surpluses, in billions of dollars, with Australia $0.6 (for May $0.6), Singapore $0.5 (deficit of $0.1), and Hong Kong $0.4 ($0.3). Deficits were recorded, in billions of dollars, with China $8.5 ($8.1), Western Europe $7.1 ($8.4), Japan $5.3 ($4.9), Canada $3.4 ($4.2), Mexico $3.2 ($3.3), OPEC $2.9 ($2.4), Taiwan $1.1 ($1.1), Korea $0.8 ($1.0), Brazil $0.3 ($0.3), Egypt $0.3 (surplus of $0.1), and Argentina $0.1 ($0.1). The deficit in advanced technology products (ATP) decreased from $0.9 billion in May to $0.1 billion in June. Exports increased $1.8 billion from May to $16.5 billion, while imports increased $1.0 billion from May to $16.5 billion. Revisions Goods carry-over in June was $0.4 billion (0.7 percent) for exports and $1.0 billion (1.0 percent) for imports. For May, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent). For May, revised import carry-over was $0.6 billion (0.6 percent), revised down from $1.2 billion (1.2 percent). Services exports for May were virtually unrevised at $23.4 billion. Services imports for May were also virtually unrevised at $19.5 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-02-108), Bureau of the Census, Foreign Trade Division, June 2002. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.