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 THURSDAY, OCTOBER 12, 2006 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) 606-2649 CB06-149, BEA06-46, FT-900 (06-08) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES August 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 August exports of $122.4 billion and imports of $192.3 billion resulted in a goods and services deficit of $69.9 billion, $1.9 billion more than the $68.0 billion in July, revised. August exports were $2.7 billion more than July exports of $119.7 billion. August imports were $4.6 billion more than July imports of $187.7 billion. In August, the goods deficit increased $2.1 billion from July to $75.5 billion, and the services surplus increased $0.2 billion to $5.7 billion. Exports of goods increased $2.5 billion to $88.0 billion, and imports of goods increased $4.6 billion to $163.5 billion. Exports of services increased $0.2 billion to $34.4 billion, and imports of services decreased $0.1 billion to $28.8 billion. In August, the goods and services deficit was up $11.1 billion from August 2005. Exports were up $14.4 billion, or 13.4 percent, and imports were up $25.5 billion, or 15.3 percent. Goods The July to August change in exports of goods reflected increases in capital goods ($1.3 billion); industrial supplies and materials ($0.5 billion); other goods ($0.4 billion); foods, feeds, and beverages ($0.4 billion); and consumer goods ($0.2 billion). A decrease occurred in automotive vehicles, parts, and engines ($0.1 billion). The July to August change in imports of goods reflected increases in industrial supplies and materials ($2.0 billion); capital goods ($1.0 billion); consumer goods ($0.7 billion); automotive vehicles, parts, and engines ($0.5 billion); foods, feeds, and beverages ($0.2 billion); and other goods ($0.2 billion). The August 2005 to August 2006 change in exports of goods reflected increases in capital goods ($3.9 billion); industrial supplies and materials ($3.6 billion); consumer goods ($1.5 billion); foods, feeds, and beverages ($1.1 billion); automotive vehicles, parts, and engines ($1.0 billion); and other goods ($0.8 billion). The August 2005 to August 2006 change in imports of goods reflected increases in industrial supplies and materials ($11.7 billion); capital goods ($4.5 billion); consumer goods ($4.2 billion); automotive vehicles, parts, and engines ($1.2 billion); foods, feeds, and beverages ($0.7 billion); and other goods ($0.6 billion). Services Services exports increased $0.2 billion from July to August. Increases in other transportation (which includes freight and port services) and other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) were partly offset by a decrease in travel. Changes in other categories of services exports were small. Services imports decreased $0.1 billion from July to August. Decreases in travel and royalties and license fees were partly offset by an increase in other private services. Changes in other categories of services imports were small. From August 2005 to August 2006, services exports increased $2.7 billion. The largest increases were in other private services ($1.6 billion), other transportation ($0.7 billion), and royalties and license fees ($0.5 billion). From August 2005 to August 2006, services imports increased $2.6 billion. The largest increases were in other private services ($1.4 billion) and other transportation ($0.5 billion). Goods and Services Moving Average For the three months ending in August, exports of goods and services averaged $121.1 billion, while imports of goods and services averaged $188.7 billion, resulting in an average trade deficit of $67.6 billion. For the three months ending in July, the average trade deficit was $66.1 billion, reflecting average exports of $119.8 billion and average imports of $185.9 billion. Selected Not Seasonally Adjusted Goods Details The August figures showed surpluses, in billions of dollars, with Australia $0.9 ($0.7 for July), Hong Kong $0.7 ($0.7), Singapore $0.4 ($0.1), Egypt $0.2 ($0.1), and Argentina $0.1 ($0.1). Deficits were recorded, in billions of dollars, with China $22.0 ($19.6), Europe $13.7 ($15.6), OPEC $11.2 ($10.9), the European Union $11.0 ($13.4), Japan $7.5 ($7.6), Mexico $6.2 ($5.1), Canada $6.1 ($5.9), Taiwan $1.7 ($1.4), Korea $1.1 ($1.3), and Brazil $1.0 ($0.9). Advanced technology products (ATP) exports were $21.3 billion in August and imports were $24.9 billion, resulting in a deficit of $3.6 billion. August exports were $1.7 billion more than the $19.6 billion in July, while imports were $0.7 billion more than the $24.2 billion in July. Revisions Goods carry-over in August was $0.2 billion (0.2 percent) for exports and $2.0 billion (1.2 percent) for imports. For July, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.3 billion (0.3 percent). For July, revised import carry-over was $0.3 billion (0.2 percent), revised down from $1.9 billion (1.2 percent). Services exports for July were virtually unchanged at $34.3 billion. Services imports for July were revised down $0.1 billion to $28.8 billion; the revision was accounted for by downward revisions in travel and passenger fares. 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 SOURCE: Report FT900 (CB-06-149, BEA-06-46), Bureau of the Census, Foreign Trade Division, August 2006. For more information, contact Nick Orsini (301-763-6959) or Vanessa Ware (301-763-2311), Foreign Trade Division.