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. Thursday, April 10, 2003 CB-03-64 Press Copy FT-900 (03-02) 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 February 2003 Goods and Services The U.S. Census Bureau and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total February exports of $82.4 billion and imports of $122.8 billion resulted in a goods and services deficit of $40.3 billion, $0.9 billion less than the $41.2 billion in January, revised. February exports were $0.4 billion more than January exports of $82.0 billion. February imports were $0.5 billion less than January imports of $123.3 billion. In February, the goods deficit decreased $0.7 billion from January to $44.2 billion, and the services surplus increased $0.2 billion to $3.9 billion. Exports of goods increased $0.6 billion to $57.4 billion, and imports of goods decreased $0.1 billion to $101.6 billion. Exports of services decreased to $25.0 billion from $25.2 billion, and imports of services decreased to $21.1 billion from $21.5 billion. Goods The January to February change in exports of goods reflected increases in capital goods ($1.1 billion); other goods ($0.1 billion); and foods, feeds, and beverages ($0.1 billion). Decreases occurred in consumer goods ($0.5 billion) and industrial supplies and materials ($0.1 billion). Automotive vehicles, parts, and engines were virtually unchanged. The January to February change in imports of goods reflected decreases in capital goods ($1.0 billion) and foods, feeds, and beverages ($0.1 billion). Increases occurred in industrial supplies and materials ($0.8 billion) and consumer goods ($0.1 billion). Automotive vehicles, parts, and engines and other goods were virtually unchanged. Services Services exports decreased $0.2 billion from January to February. Decreases in travel and passenger fares more than accounted for the decrease. Changes in the other categories of services exports were small. Services imports decreased $0.4 billion from January to February. Decreases in travel, other transportation (which includes freight and port expenditure services), and passenger fares more than accounted for the decrease. Changes in other categories of services imports were small. Goods and Services Moving Average For the three months ending in February, exports of goods and services averaged $81.7 billion, while imports of goods and services averaged $123.8 billion, resulting in an average trade deficit of $42.1 billion. For the three months ending in January, the average trade deficit was also $42.1 billion, reflecting average exports of $81.9 billion and average imports of $124.0 billion. Selected Not Seasonally Adjusted Goods Details The February figures showed surpluses, in billions of dollars, with Australia $0.6 (for January $0.3), Hong Kong $0.4 ($0.1), Singapore $0.3 (deficit of $0.4), and Egypt $0.1 ($0.1). Deficits were recorded, in billions of dollars, with China $7.6 ($9.4), Western Europe $6.6 ($7.0), Japan $5.3 ($5.2), Canada $4.3 ($4.9), Mexico $3.9 ($3.0), OPEC $3.4 ($3.6), Taiwan $1.0 ($1.4), Brazil $0.5 ($0.6), Korea $0.5 ($1.1), and Argentina $0.1 ($0.1). Advanced technology products (ATP) exports were $13.7 billion in February and imports were $14.3 billion, resulting in a deficit of $0.6 billion. February exports were $0.6 billion more than the $13.1 billion in January, while imports were $1.1 billion less than the $15.4 billion in January. Revisions Goods carry-over in February was $0.3 billion (0.5 percent) for exports and $1.0 billion (1.1 percent) for imports. For January, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent). For January, revised import carry-over was $0.2 billion (0.2 percent), revised down from $0.9 billion (0.9 percent). Services exports for January were revised up $0.1 billion to $25.2 billion; the revision was mostly accounted for by an upward revision in travel. Services imports for January were revised up $0.1 billion to $21.5 billion; the revision was mostly accounted for by upward revisions in travel and passenger fares. Table of Contents Seasonally Adjusted Exhibit 1 International Trade in Goods and Services. . . . . . .4 Exhibit 2 Goods and Services Centered Three - Month Moving Averages5 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 Category9 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 Category18 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 Groupings21 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 Countries25 Information on Goods and Services. . . . . . . . . . . . . . . 26