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, November 19, 2002 CB-02-148 Press Copy FT-900 (02-09) For information on goods contact: U.S. Census Bureau: Haydn R. Mearkle (301) 763-2246 Nick Orsini (301) 763-2311 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 September 2002 Goods and Services The U.S. Census Bureau and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total September exports of $82.2 billion and imports of $120.2 billion resulted in a goods and services deficit of $38.0 billion, $0.3 billion less than the $38.3 billion in August, revised. September exports were $0.3 billion less than August exports of $82.5 billion. September imports were $0.6 billion less than August imports of $120.8 billion. In September, the goods deficit decreased $0.5 billion from August to $41.8 billion, and the services surplus decreased $0.3 billion to $3.8 billion. Exports of goods increased $0.1 billion to $58.3 billion, and imports of goods decreased $0.5 billion to $100.1 billion. Exports of services decreased to $23.8 billion from $24.2 billion, and imports of services decreased to $20.0 billion from $20.2 billion. Goods The August to September change in exports of goods reflected decreases in other goods ($0.2 billion) and automotive vehicles, parts, and engines ($0.1 billion). An increase occurred in capital goods ($0.2 billion). Consumer goods; industrial supplies and materials; and foods, feeds, and beverages were virtually unchanged. The August to September change in imports of goods reflected decreases in consumer goods ($0.4 billion); industrial supplies and materials ($0.3 billion); capital goods ($0.1 billion); and foods, feeds, and beverages ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($0.3 billion) and other goods ($0.1 billion). Services Services exports decreased $0.4 billion from August to September. The decrease was mostly accounted for by decreases in travel and passenger fares. Services imports decreased $0.1 billion from August to September. Decreases in travel and passenger fares were partly offset by an increase in other private services (which includes items such as business, professional, and technical services; insurance services; and financial services). Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $82.5 billion, while imports of goods and services averaged $119.6 billion, resulting in a average trade deficit of $37.1 billion. For the three months ending in August, the average trade deficit was $36.7 billion, reflecting average exports of $82.5 billion and average imports of $119.2 billion. Selected Not Seasonally Adjusted Goods Details The September figures showed surpluses, in billions of dollars, with Australia $0.5 (for August $0.5), Hong Kong $0.3 ($0.2), and Egypt $0.1 ($0.3). Deficits were recorded, in billions of dollars, with China $10.3 ($10.9), Western Europe $7.0 ($7.0), Japan $5.9 ($5.3), Canada $4.6 ($4.1), Mexico $3.0 ($3.5), OPEC $2.9 ($3.7), Taiwan $1.2 ($1.3), Korea $1.1 ($1.0), Brazil $0.4 ($0.4), Argentina $0.1 ($0.1), and Singapore $0.1 (surplus of $0.2). Advanced technology products (ATP) exports were $14.8 billion in September and imports were $17.1 billion, resulting in a deficit of $2.2 billion. September exports were $0.3 billion less than the $15.1 billion in August, while imports were $0.8 billion more than the $16.3 billion in August. Revisions Goods carry-over in September was $0.5 billion (0.9 percent) for exports and $1.1 billion (1.1 percent) for imports. For August, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.2 billion (0.3 percent). For August, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.8 billion (0.8 percent). Services exports for August were revised up $0.3 billion to $24.2 billion. The revision was mostly accounted for by upward revisions in travel and passenger fares. Services imports for August were revised up $0.1 billion to $20.2 billion. The revision was almost entirely accounted for by an upward revision in travel. NOTE: Ports located on the west coast of the United States were closed during the last two days of September (and the first eight days of October) due to a labor- management dispute. The impact, if any, cannot be separately identified in the source data. Scheduled release dates through February 2004 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 (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-02-148), Bureau of the Census, Foreign Trade Division, September 2002. For more information, contact Haydn R. Mearkle (301-763-2246) or Nick Orsini (301-763-2311), Foreign Trade Division.