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. EDT WEDNESDAY, APRIL 12, 2006 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 CB06-52, BEA06-13, FT-900 (06-02) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES February 2006 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 February exports of $113.0 billion and imports of $178.7 billion resulted in a goods and services deficit of $65.7 billion, $2.8 billion less than the $68.6 billion in January, revised. February exports were $1.3 billion less than January exports of $114.3 billion. February imports were $4.2 billion less than January imports of $182.9 billion. In February, the goods deficit decreased $3.5 billion from January to $70.1 billion, and the services surplus decreased $0.6 billion to $4.3 billion. Exports of goods decreased $1.1 billion to $80.5 billion, and imports of goods decreased $4.6 billion to $150.5 billion. Exports of services decreased $0.2 billion to $32.5 billion, and imports of services increased $0.4 billion to $28.2 billion. In February, the goods and services deficit was up $5.6 billion from February 2005. Exports were up $11.7 billion, or 11.5 percent, and imports were up $17.3 billion, or 10.7 percent. Goods The January to February change in exports of goods reflected decreases in foods, feeds, and beverages ($0.3 billion); capital goods ($0.3 billion); industrial supplies and materials ($0.2 billion); automotive vehicles, parts, and engines ($0.2 billion); other goods ($0.1 billion); and consumer goods ($0.1 billion). The January to February change in imports of goods reflected decreases in capital goods ($1.5 billion); automotive vehicles, parts, and engines ($1.3 billion); consumer goods ($0.9 billion); other goods ($0.4 billion); foods, feeds, and beverages ($0.3 billion); and industrial supplies and materials ($0.2 billion). The February 2005 to February 2006 change in exports of goods reflected increases in capital goods ($4.9 billion); industrial supplies and materials ($2.1 billion); automotive vehicles, parts, and engines ($1.2 billion); consumer goods ($0.9 billion); foods, feeds, and beverages ($0.5 billion); and other goods ($0.4 billion). The February 2005 to February 2006 change in imports of goods reflected increases in industrial supplies and materials ($10.2 billion); capital goods ($2.7 billion); automotive vehicles, parts, and engines ($1.6 billion); foods, feeds, and beverages ($0.6 billion); and other goods ($0.5 billion). A decrease occurred in consumer goods ($0.1 billion). Services Services exports decreased $0.2 billion from January to February. The decrease reflected decreases in travel ($0.2 billion) and other transportation, which includes freight and port services ($0.1 billion). Changes in other categories of services exports were small. Services imports increased $0.4 billion from January to February. Royalties and license fees increased $0.6 billion; it includes payments for the rights to broadcast the 2006 Winter Olympic Games. Other transportation decreased $0.2 billion and travel decreased $0.1 billion. Changes in other categories of services imports were small. From February 2005 to February 2006, services exports increased $1.8 billion. The largest increases were in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services ($1.0 billion), other transportation ($0.5 billion), and travel ($0.4 billion). From February 2005 to February 2006, services imports increased $1.9 billion. The largest increases were in other private services ($1.0 billion) and royalties and license fees ($0.6 billion). Goods and Services Moving Average For the three months ending in February, exports of goods and services averaged $113.0 billion, while imports of goods and services averaged $179.4 billion, resulting in an average trade deficit of $66.5 billion. For the three months ending in January, the average trade deficit was $66.0 billion, reflecting average exports of $111.7 billion and average imports of $177.7 billion. Scheduled FT-900 release dates through February 2007 are located on page 31 Selected Not Seasonally Adjusted Goods Details The February figures showed surpluses, in billions of dollars, with Australia $0.7 ($0.9 for January), Hong Kong $0.6 ($0.5), Singapore $0.5 ($0.3), and Egypt $0.1 ($0.1). Deficits were recorded, in billions of dollars, with China $13.8 ($17.9), Europe $9.8 ($11.7), the European Union $8.3 ($9.7), OPEC $7.3 ($8.4), Canada $7.2 ($8.9), Japan $7.1 ($6.5), Mexico $4.7 ($4.6), Korea $1.2 ($1.3), Taiwan $1.0 ($1.6), and Brazil $0.6 ($0.6). Advanced technology products (ATP) exports were $18.4 billion in February and imports were $19.8 billion, resulting in a deficit of $1.4 billion. February exports were $0.1 billion more than the $18.3 billion in January, while imports were $1.9 billion less than the $21.7 billion in January. Revisions Goods carry-over in February was $0.4 billion (0.5 percent) for exports and $1.2 billion (0.9 percent) for imports. For January, revised export carry-over was $0.2 billion (0.3 percent), revised down from $0.5 billion (0.7 percent). For January, revised import carry-over was $0.2 billion (0.1 percent), revised down from $1.0 billion (0.7 percent). Services exports for January were revised up $0.1 billion to $32.7 billion. The revision was mostly accounted for by upward revisions in travel and passenger fares. Services imports for January were virtually unchanged at $27.8 billion. 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 16a Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas. . 24 Exhibit 17 Imports of Energy - Related Petroleum Products, Including Crude Oil. . . . . . . . . . . . . . . . . . . . . . . 25 Exhibit 18 Exports and Imports of Motor Vehicles and Parts By Selected Countries. . . . . . . . . . . . . . . . . . . . . . . .26 Information on Goods and Services. . . . . . . . . . . . . . . . 27 NOTE: (1) Data presented on a Balance of Payments (BOP) basis. For information on data sources and methodology, see the information section on page 27 of this release, or at www.census.gov/ft900 or www.bea.gov/bea/di/home/trade.htm. ' SOURCE: Report FT900 (CB-06-52, BEA-06-13), Bureau of the Census, Foreign Trade Division, February 2006. For more information, contact Nick Orsini (301-763-6959) or Vanessa Ware (301-763-2311), Foreign Trade Division.