U.S. Census Bureau U.S. Bureau of Economic Analysis NEWS U.S. Department of Commerce · Washington, D.C. 20230 FOR IMMEDIATE RELEASE 8:30 A.M. EST THURSDAY, NOVEMBER 10, 2005 For information on goods contact: For information on services contact: U.S. Census Bureau: U.S. Bureau of Economic Analysis: Nick Orsini (301) 763-6959 Technical: Christopher Bach (202) 606-9545 Vanessa Ware (301) 763-2311 Media: Ralph Stewart (202) 606-2649 CB05-164, BEA05-49, FT-900 (05-09) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES September 2005 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 September exports of $105.2 billion and imports of $171.3 billion resulted in a goods and services deficit of $66.1 billion, $6.8 billion more than the $59.3 billion in August, revised. September exports were $2.8 billion less than August exports of $108.0 billion. September imports were $4.0 billion more than August imports of $167.3 billion. In September, the goods deficit increased $7.1 billion from August to $71.1 billion, and the services surplus increased $0.3 billion to $5.0 billion. Exports of goods decreased $3.3 billion to $73.4 billion, and imports of goods increased $3.8 billion to $144.5 billion. Exports of services increased $0.5 billion to $31.8 billion, and imports of services increased $0.2 billion to $26.8 billion. In September, the goods and services deficit was up $14.2 billion from September 2004. Exports were up $7.5 billion, or 7.7 percent, and imports were up $21.7 billion, or 14.5 percent. Goods The August to September change in exports of goods reflected decreases in capital goods ($2.3 billion); industrial supplies and materials ($1.2 billion); and foods, feeds, and beverages ($0.3 billion). An increase occurred in consumer goods ($0.4 billion). Other goods and automotive vehicles, parts, and engines were virtually unchanged. The August to September change in imports of goods reflected increases in industrial supplies and materials ($2.7 billion); consumer goods ($0.9 billion); other goods ($0.4 billion); capital goods ($0.3 billion); and foods, feeds, and beverages ($0.2 billion). A decrease occurred in automotive vehicles, parts, and engines ($0.7 billion). The September 2004 to September 2005 change in exports of goods reflected increases in industrial supplies and materials ($1.5 billion); consumer goods ($1.1 billion); capital goods ($1.0 billion); automotive vehicles, parts, and engines ($0.6 billion); and other goods ($0.3 billion). Foods, feeds, and beverages were virtually unchanged. The September 2004 to September 2005 change in imports of goods reflected increases in industrial supplies and materials ($11.6 billion); consumer goods ($3.3 billion); capital goods ($2.6 billion); foods, feeds, and beverages ($0.9 billion); other goods ($0.7 billion); and automotive vehicles, parts, and engines ($0.7 billion). Services Services exports increased $0.5 billion from August to September. The increase was mostly accounted for by increases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services), travel, and other transportation (which includes freight and port services). Changes in other categories of services exports were small. Services imports increased $0.2 billion from August to September. The increase was more than accounted for by increases in other transportation, travel, and other private services. Changes in other categories of services imports were small. From September 2004 to September 2005, services exports increased $3.1 billion. The largest increases were in travel ($0.8 billion), royalties and license fees ($0.7 billion), other transportation ($0.5 billion), and other private services ($0.5 billion). From September 2004 to September 2005, services imports increased $1.8 billion. The largest increases were in other private services ($0.7 billion), other transportation ($0.4 billion), and travel ($0.3 billion). Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $106.5 billion, while imports of goods and services averaged $167.7 billion, resulting in an average trade deficit of $61.1 billion. For the three months ending in August, the average trade deficit was $58.9 billion, reflecting average exports of $106.7 billion and average imports of $165.7 billion. Selected Not Seasonally Adjusted Goods Details The September figures showed surpluses, in billions of dollars, with Australia $0.7 (for August $0.7), Hong Kong $0.5 ($0.6), Singapore $0.5 ($0.4), and Egypt $0.0 ($0.1). Deficits were recorded, in billions of dollars, with China $20.1 ($18.5), Europe $12.0 ($12.8), the European Union $10.1 ($11.3), OPEC $9.1 ($9.0), Canada $7.4 ($6.6), Japan $6.4 ($6.6), Mexico $4.3 ($4.2), Taiwan $1.3 ($0.8), Korea $1.2 ($1.3), and Brazil $0.7 ($0.6). Advanced technology products (ATP) exports were $17.1 billion in September and imports were $22.6 billion, resulting in a deficit of $5.6 billion. September exports were $1.5 billion less than the $18.5 billion in August, while imports were $0.8 billion more than the $21.8 billion in August. Revisions Goods carry-over in September was $0.2 billion (0.3 percent) for exports and $1.2 billion (0.8 percent) for imports. For August, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.2 billion (0.3 percent). For August, revised import carry- over was $0.5 billion (0.4 percent), revised down from $1.3 billion (0.9 percent). Services exports for August were revised down $0.2 billion to $31.3 billion; the revision was mostly accounted for by downward revisions in travel and passenger fares. Services imports for August were revised down $0.1 billion to $26.6 billion; the revision was more than accounted for by downward revisions in travel and passenger fares. NOTICE New Preliminary Export and Import Goods Data for the Gulf Region The Census Bureau will release preliminary export and import data for districts in the Gulf Region affected by the hurricanes three weeks earlier than the official monthly release. The report is available at www.census.gov/trade and contains preliminary export and import totals for each of the ports in the Gulf region and aggregated industry data for five Districts. This release will pertain solely to Census basis goods trade data involving districts in the region affected by hurricanes Katrina and Rita, and will not include any data on trade in services. The preliminary release can be found at www.census.gov/foreign-trade/Press-Release/gulf_index.html. The Census Bureau requested, and the Office of Management and Budget (OMB) granted, an exception under Section 7 of OMB Statistical Policy Directive No. 3 on the Compilation, Release, and Evaluation of Principal Federal Economic Indicators to the previously approved schedule of release dates. The OMB exception, for a period not to exceed six months, was for the sole purpose of providing public release of preliminary monthly trade statistics for the Gulf region. The data will provide more timely trade statistics on export and import flows in this major international trade gateway. The statistics in this release will have several limitations, the most significant being the coverage of the preliminary data in relation to the final data. Analysis of Gulf Region export and import goods data indicates the value of preliminary data should be between 70 and 90 percent of the final value reported in the regular monthly trade report, with wider variations by district, port, and industry group. Preliminary data will be released on the dates given below at 10:00 a.m. OMB, in consultation with the Census Bureau, will determine if an optional two-month extension is warranted. Statistical Month Date Day October 2005 11-21-05 Monday November 2005 12-20-05 Tuesday December 2005 01-20-06 Friday If you have questions please contact nick.orsini@census.gov. Table of Contents Seasonally Adjusted Exhibit 1 U.S. 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-05-164, BEA-05-49), Bureau of the Census, Foreign Trade Division, September 2005. For more information, contact Nick Orsini (301-763-6959) or Vanessa Ware (301-763-2311), Foreign Trade Division.