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. Wednesday, January 12, 2005 CB-05-04 BEA-05-01 FT-900 (04-11) For information on goods contact: U.S. Census Bureau: Nick Orsini (301) 763-6959 Vanessa Ware (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 November 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 November exports of $95.6 billion and imports of $155.8 billion resulted in a goods and services deficit of $60.3 billion, $4.3 billion more than the $56.0 billion in October, revised. November exports were $2.2 billion less than October exports of $97.8 billion. November imports were $2.0 billion more than October imports of $153.8 billion. In November, the goods deficit increased $4.0 billion from October to $64.1 billion, and the services surplus decreased $0.3 billion to $3.8 billion. Exports of goods decreased $2.6 billion to $66.5 billion, and imports of goods increased $1.4 billion to $130.7 billion. Exports of services increased $0.4 billion to $29.0 billion, and imports of services increased $0.7 billion to $25.2 billion. In November, the goods and services deficit was up $20.3 billion from November 2003. Exports were up $5.4 billion, or 6.0 percent, and imports were up $25.7 billion, or 19.8 percent. Goods The October to November change in exports of goods reflected decreases in capital goods ($1.4 billion); industrial supplies and materials ($0.8 billion); automotive vehicles, parts, and engines ($0.4 billion); consumer goods ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). An increase occurred in other goods ($0.2 billion). The October to November change in imports of goods reflected increases in industrial supplies and materials ($1.2 billion); consumer goods ($0.4 billion); foods, feeds, and beverages ($0.2 billion); and other goods ($0.2 billion). Decreases occurred in automotive vehicles, parts, and engines ($0.4 billion) and capital goods ($0.1 billion). The November 2003 to November 2004 change in exports of goods reflected increases in industrial supplies and materials ($2.5 billion); consumer goods ($0.6 billion); automotive vehicles, parts, and engines ($0.5 billion); and other goods ($0.2 billion). Decreases occurred in foods, feeds, and beverages ($0.4 billion) and capital goods ($0.2 billion). The November 2003 to November 2004 change in imports of goods reflected increases in industrial supplies and materials ($13.8 billion); capital goods ($4.0 billion); consumer goods ($3.3 billion); automotive vehicles, parts, and engines ($0.8 billion); foods, feeds, and beverages ($0.5 billion); and other goods ($0.3 billion). Services Services exports increased $0.4 billion from October to November. The increase was more than accounted for by increases in travel, passenger fares, and other private services (which includes items such as business, professional, and technical services, insurance services, and financial services). Changes in the other categories of services exports were small. Services imports increased $0.7 billion from October to November. Most of the increase was accounted for by an increase in other transportation (which includes freight and port services). Travel, passenger fares, and other private services also increased. Changes in the other categories of services imports were small. From November 2003 to November 2004, services exports increased $1.9 billion. The largest increases were in other private services ($0.6 billion), travel ($0.5 billion), and other transportation ($0.4 billion). From November 2003 to November 2004, services imports increased $2.9 billion. The largest increases were in other transportation ($1.2 billion), travel ($0.7 billion), and other private services ($0.6 billion). Goods and Services Moving Average For the three months ending in November, exports of goods and services averaged $96.9 billion, while imports of goods and services averaged $152.7 billion, resulting in an average trade deficit of $55.7 billion. For the three months ending in October, the average trade deficit was $53.6 billion, reflecting average exports of $97.2 billion and average imports of $150.8 billion. Selected Not Seasonally Adjusted Goods Details The November figures showed surpluses, in billions of dollars with Australia $0.5 (for October $0.6), Hong Kong $0.5 ($0.4), Singapore $0.1 ($0.1), and Egypt $0.1 ($0.2). Deficits were recorded, in billions of dollars, with China $16.6 ($16.8), the European Union (25) $10.5 ($9.3), Canada $7.3 ($5.7), Japan $7.3 ($5.9), OPEC $6.9 ($7.2), Mexico $3.9 ($4.4), Korea $2.3 ($2.0), Taiwan $1.4 ($1.1), and Brazil $0.8 ($0.8). Advanced technology products (ATP) exports were $16.1 billion in November and imports were $21.9 billion, resulting in a deficit of $5.8 billion. November exports were $1.8 billion less than the $17.9 billion in October, while imports were virtually unchanged from October. Revisions Goods carry-over in November was $0.3 billion (0.4 percent) for exports and $1.1 billion (0.8 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 (0.1 percent), revised down from $0.9 billion (0.6 percent). Services exports for October were revised down $0.1 billion to $28.6 billion; the revision was mostly accounted for by a downward revision in travel. Services imports for October were virtually unchanged at $24.5 billion. 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 Notice With the release of the January 2005 statistics on March 11, 2005, exhibits 14 and 14a of the U.S. International Trade in Goods and Services release and exhibits 6 and 6a of the FT-900 Supplement will be revised. The primary modifications are to add lines to the exhibits for Europe, Africa, and individual countries that have accounted for increased trade activity in recent years. In addition, lines pertaining to Western Europe, Eastern Europe, European Union (15), and the former Soviet Republics will be removed. For examples of the revised exhibits, go to www.census.gov/foreign-trade/2005_examples.html. If you have any questions or comments, please contact Vanessa Ware at (301) 763-2311 or e-mail at vanessa.ware@census.gov. SOURCE: Report FT900 (CB-05-04, BEA-05-01), Bureau of the Census, Foreign Trade Division, November 2004. For more information, contact Nick Orsini (301-763-6959) or Vanessa Ware (301-763-2311), Foreign Trade Division.