United States Department of COMMERCE NEWS  
Washington, D.C. 20230             

ECONOMICS AND STATISTICS ADMINISTRATION
------------
U.S. Census Bureau
U.S. Bureau of Economic Analysis
                                
This release contains sensitive economic data not to be 
released before 8:30 a.m. Friday, September 10, 2004 

CB-04-155
BEA-04-42
FT-900 (04-07)

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:
U.S. Bureau of Economic Analysis:
Technical:  Christopher Bach  (202) 606-9545
Media:      Ralph Stewart     (202) 606-9690

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
July 2004
           
Goods and Services

     The U.S. Census Bureau and the U.S. Bureau of
Economic Analysis, through the Department of
Commerce, announced today that total July  exports of
$95.9 billion and imports of $146.0 billion resulted in
a goods and services deficit of $50.1 billion, $4.9
billion less than the $55.0 billion in June, revised. 
July exports were $2.8 billion more than June exports
of $93.1 billion.  July imports were $2.1 billion less
than June imports of $148.1 billion.

     In July, the goods deficit decreased $4.6 billion from
June to $54.5 billion, and the services surplus increased
$0.3 billion to $4.4 billion.  Exports of goods increased
$2.8 billion to $67.5 billion, and imports of goods
decreased $1.8 billion to $122.0 billion.  Exports of
services were virtually unchanged at $28.4 billion, and
imports of services decreased $0.3 billion to $24.0 billion.
                                                                  
     In July, the goods and services deficit was up $9.3
billion from July 2003.  Exports were up $10.3 billion, or
12.0 percent, and imports were up $19.6 billion, or 15.5
percent.

Goods

     The June to July change in exports of goods reflected
increases in capital goods ($1.5 billion); industrial supplies 
and materials ($1.2 billion); and automotive vehicles, parts,
and engines ($0.6 billion).  Decreases occurred in other
goods ($0.6 billion) and consumer goods ($0.2 billion). 
Foods, feeds, and beverages were virtually unchanged.
     
     The June to July change in imports of goods reflected
decreases in industrial supplies and materials ($1.4 billion);
consumer goods ($0.4 billion); other goods ($0.1 billion);
capital goods ($0.1 billion); and foods, feeds, and beverages
($0.1 billion).  An increase occurred in automotive vehicles,
parts, and engines ($0.4 billion).     

      The July 2003 to July 2004 change in exports of goods
reflected increases in capital goods ($3.4 billion); industrial
supplies and materials ($2.4 billion); automotive vehicles,
parts, and engines ($0.9 billion); and consumer goods ($0.7
billion).   Decreases occurred in foods, feeds, and beverages
($0.2 billion) and other goods ($0.1 billion).

     The July 2003 to July 2004 change in imports of goods
reflected increases in industrial supplies and materials ($7.3
billion); capital goods ($4.8 billion); consumer goods ($3.1
billion); automotive vehicles, parts, and engines ($1.3
billion); foods, feeds, and beverages ($0.6 billion); and other
goods ($0.1 billion).
     

Services
     
     Services exports were virtually unchanged from June to
July.  A decrease in transfers under U.S. military sales
contracts was partly offset by an increase in royalties and
license fees.  Changes in the other categories of services
exports were small.

     Services imports decreased $0.3 billion from June to July. 
The decrease was mostly accounted for by a decrease in
other transportation (which includes freight and port
services); travel and passenger fares also decreased. 
Changes in the other categories of services imports were
small.          
          
     From July 2003 to July 2004, services exports increased
$2.9 billion.  The largest increases were in travel ($1.1
billion), other private services, which includes items such as
business, professional, and technical services, insurance
services, and financial services ($0.7 billion), and other
transportation ($0.5 billion).  

     From July 2003 to July 2004, services imports increased
$2.4 billion.  The largest increases were in other private
services ($0.8 billion), travel ($0.7 billion), and other
transportation ($0.4 billion). 
                                  
Goods and Services Moving Average 

     For the three months ending in July, exports of goods and
services averaged $95.3 billion, while imports of goods and
services averaged $146.0 billion, resulting in an average
trade deficit of $50.7 billion.  For the three months ending in
June, the average trade deficit was $50.1 billion, reflecting
average exports of $94.8 billion and average imports of
$144.9 billion.
                                  
Scheduled release dates through February 2005 are located on page 30
         
Selected Not Seasonally Adjusted Goods Details 
                                   
The July figures showed surpluses, in billions of dollars,
with Australia $0.6 (for June $0.5), Singapore $0.5 ($0.4),
Hong Kong $0.4 ($0.5), and Egypt $0.1 ($0.1).  Deficits were
recorded, in billions of dollars, with China $14.9 ($14.2),
Western Europe $11.1 ($10.7), the European Union (25)
$10.5 ($10.6), Japan $6.4 ($6.3), Canada $6.1 ($6.6), OPEC
$6.0 ($6.2), Mexico $3.5 ($4.9), Korea $1.7 ($2.0), Taiwan
$1.3 ($1.2), and Brazil $0.8 ($1.1). 
                                 
Advanced technology products (ATP) exports were $15.8
billion in July and imports were $19.5 billion, resulting in a
deficit of $3.7 billion.  July exports were $1.4 billion less than
the $17.3 billion in June, while imports were $1.8 billion less
than the $21.3 billion in June.
                                 
Revisions
                                   
Goods carry-over in July was $0.6 billion (1.0 percent) for
exports and $0.7 billion (0.6 percent) for imports.  For June,
revised export carry-over was $0.1 billion (0.2 percent), revised
down from $0.3 billion (0.4 percent).  For June, revised import
carry-over was $0.1 billion (0.1 percent), revised down from
$1.4 billion (1.1 percent).
                                 
Services exports and imports for January through June 2004
reflect the incorporation of quarterly revisions to the U.S.
international transactions accounts.  The revised quarterly and
monthly estimates are based on more complete source data than
were available previously.  For services exports, the largest
revisions over the entire period were in royalties and license
fees and other private services.  For services imports, the
largest revisions over the entire period were in other
transportation and other private services.
                                 
Services exports for June were revised down $0.2 billion to
$28.4 billion; the revision was more than accounted for by a
downward revision in royalties and license fees.  Services
imports for June were revised up $0.1 billion to $24.3 billion;
the revision was more than accounted for by an upward
revision in other private services.
 
Table of Contents
                                  
Seasonally Adjusted
   
Exhibit 1   International Trade in Goods and Services. . . . . . .4

Exhibit 2   U.S. International Trade in Goods and Services 
	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  Exports, Imports, and Balance of Goods, Petroleum and
            Non-Petroleum End-Use Category Totals. . . . . . . . 14

Exhibit 10 Real Exports and Imports of Goods by Principal End-Use
              Category (2000 Chain-weighted dollars) . . . . . . 15

Exhibit 11 Real Exports, Imports, and Balance of Goods, 
	Petroleum and Non-Petroleum End-Use Commodity 
	Category Totals (2000 Chain-weighted 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 Commodities. . . . . . . . . . . . . . . . . . . . .21

Exhibit 16  Exports, Imports, and Balance of Advanced 
	Technology Products. . . . . . . . . . . . . . . . . . . 23

Exhibit 17  Imports of Energy - Related Petroleum Products, 
              Including Crude Oil. . . . . . . . . . . . . . . . 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-04-155, BEA-04-42), Bureau of the Census, Foreign 
Trade Division, July 2004.  For more information, contact Haydn R. 
Mearkle (301-763-2246) or Nick Orsini (301-763-2311), Foreign 
Trade Division.