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. Friday, January 17, 2003 CB-03-15 Press Copy FT-900 (02-11) 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 November 2002 Goods and Services The U.S. Census Bureau and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total November exports of $83.2 billion and imports of $123.3 billion resulted in a goods and services deficit of $40.1 billion, $4.9 billion more than the $35.2 billion in October, revised. November exports were $0.9 billion more than October exports of $82.3 billion. November imports were $5.8 billion more than October imports of $117.5 billion. In November, the goods deficit increased $4.8 billion from October to $44.3 billion, and the services surplus decreased $0.1 billion to $4.2 billion. Exports of goods increased $0.6 billion to $58.0 billion, and imports of goods increased $5.4 billion to $102.3 billion. Exports of services increased to $25.2 billion from $24.9 billion, and imports of services increased to $21.0 billion from $20.6 billion. Goods The October to November change in exports of goods reflected increases in industrial supplies and materials ($0.5 billion) and foods, feeds, and beverages ($0.4 billion). Decreases occurred in automotive vehicles, parts, and engines ($0.3 billion); capital goods ($0.1 billion); and other goods ($0.1 billion). Consumer goods were virtually unchanged. The October to November change in imports of goods reflected increases in consumer goods ($2.7 billion); capital goods ($2.1 billion); automotive vehicles, parts, and engines ($0.7 billion); and foods, feeds, and beverages ($0.4 billion). Decreases occurred in industrial supplies and materials ($0.4 billion) and other goods ($0.2 billion). Services Services exports increased $0.3 billion from October to November. The increase was mostly accounted for by increases in travel, other private services (which includes items such as business, professional, and technical services; insurance services; and financial services) and other transportation (which includes freight services and port expenditures by carriers). Services imports increased $0.4 billion from October to November. Travel and other transportation accounted for most of the increase. Goods and Services Moving Average For the three months ending in November, exports of goods and services averaged $82.8 billion, while imports of goods and services averaged $120.2 billion, resulting in a average trade deficit of $37.5 billion. For the three months ending in October, the average trade deficit was $36.8 billion, reflecting average exports of $82.8 billion and average imports of $119.6 billion. Selected Not Seasonally Adjusted Goods Details The November figures showed surpluses, in billions of dollars, with Australia $0.5 (for October $0.6) and Hong Kong $0.3 ($0.1). Deficits were recorded, in billions of dollars, with China $10.5 ($9.5), Western Europe $7.9 ($8.7), Japan $6.5 ($6.5), Canada $3.7 ($4.3), OPEC $2.9 ($3.6), Mexico $2.9 ($3.5), Korea $1.6 ($1.1), Taiwan $1.3 ($1.1), Brazil $0.2 ($0.5), Argentina $0.2 ($0.1), and Singapore $0.1 (surplus of $0.3). Advanced technology products (ATP) exports were $14.7 billion in November and imports were $17.7 billion, resulting in a deficit of $3.1 billion. November exports were $1.0 billion less than the $15.7 billion in October, while imports were $0.2 billion more than the $17.5 billion in October. Revisions Goods carry-over in November was $0.6 billion (1.0 percent) for exports and $1.2 billion (1.2 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 $0.7 billion (0.7 percent). Services exports for October were virtually unrevised at $24.9 billion. Services imports for October were revised up $0.1 billion to $20.6 billion. The revision was more than accounted for by an upward revision in passenger fares. 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 dispute. The impact 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 Products23 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