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 9, 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 CB06-164, BEA06-50, FT-900 (06-09) U.S. INTER NATIONAL TRADE IN GOODS AND SERVICES September 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 September exports of $123.2 billion and imports of $187.5 billion resulted in a goods and services deficit of $64.3 billion, $4.7 billion less than the $69.0 billion in August, revised. September exports were $0.6 billion more than August exports of $122.6 billion. September imports were $4.1 billion less than August imports of $191.6 billion. In September, the goods deficit decreased $4.8 billion from August to $70.1 billion, and the services surplus decreased $0.1 billion to $5.8 billion. Exports of goods increased $0.6 billion to $88.6 billion, and imports of goods decreased $4.2 billion to $158.7 billion. Exports of services were virtually unchanged at $34.5 billion, and imports of services were virtually unchanged at $28.7 billion. In September, the goods and services deficit was down $0.7 billion from September 2005. Exports were up $16.8 billion, or 15.8 percent, and imports were up $16.2 billion, or 9.4 percent. Goods The August to September change in exports of goods reflected increases in industrial supplies and materials ($1.0 billion); capital goods ($0.7 billion); and other goods ($0.3 billion). Decreases occurred in automotive vehicles, parts, and engines ($0.7 billion); consumer goods ($0.4 billion); and foods, feeds, and beverages ($0.3 billion). The August to September change in imports of goods reflected decreases in industrial supplies and materials ($3.6 billion); capital goods ($0.6 billion); automotive vehicles, parts, and engines ($0.4 billion); and foods, feeds, and beverages ($0.1 billion). An increase occurred in consumer goods ($0.6 billion). Other goods were virtually unchanged. 2 The September 2005 to September 2006 change in exports of goods reflected increases in capital goods ($6.5 billion); industrial supplies and materials ($5.4 billion); other goods ($1.0 billion); consumer goods ($0.9 billion); foods, feeds, and beverages ($0.9 billion); and automotive vehicles, parts, and engines ($0.3 billion). The September 2005 to September 2006 change in imports of goods reflected increases in industrial supplies and materials ($5.2 billion); consumer goods ($3.8 billion); capital goods ($3.5 billion); automotive vehicles, parts, and engines ($0.8 billion); foods, feeds, and beverages ($0.5 billion); and other goods ($0.2 billion). Services Services exports were virtually unchanged from August to September. A decrease in other transportation (which includes freight and port services) was mostly offset by an increase in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services). Changes in other categories of services exports were small. Services imports were virtually unchanged from August to September. An increase in other private services was mostly offset by small decreases in other categories of services imports. From September 2005 to September 2006, services exports increased $2.1 billion. The largest increases were in other private services ($1.5 billion), royalties and license fees ($0.5 billion), and other transportation ($0.4 billion). From September 2005 to September 2006, services imports increased $2.1 billion. The largest increases were in other private services ($1.5 billion) and other transportation ($0.3 billion). Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $121.8 billion, while imports of goods and services averaged $188.9 billion, resulting in an average trade deficit of $67.1 billion. For the three months ending in August, the average trade deficit was $67.3 billion, reflecting average exports of $121.2 billion and average imports of $188.5 billion. Selected Not Seasonally Adjusted Goods Details The September figures showed surpluses, in billions of dollars, with Hong Kong $1.0 ($0.7 for August), Australia $0.9 ($0.9), Singapore $0.7 ($0.4), Egypt $0.2 ($0.2), and Argentina $0.2 ($0.1). Deficits were recorded, in billions of dollars, with China $23.0 ($22.0), OPEC $9.2 ($11.2), Europe $9.0 ($13.7), the European Union $7.0 ($11.0), Japan $6.7 ($7.5), Mexico $5.8 ($6.2), Canada $5.7 ($6.1), Taiwan $1.5 ($1.7), Korea $0.8 ($1.1), and Brazil $0.5 ($1.0). Advanced technology products (ATP) exports were $22.0 billion in September and imports were $26.2 billion, resulting in a deficit of $4.2 billion. September exports were $0.7 billion more than the $21.3 billion in August, while imports were $1.3 billion more than the $24.9 billion in August. Revisions Goods carry-over in September was $0.2 billion (0.2 percent) for exports and $1.0 billion (0.6 percent) for imports. For August, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.2 billion (0.2 percent). For August, revised import carry-over was $0.6 billion (0.3 percent), revised down from $2.0 billion (1.2 percent). Services exports for August were revised up $0.1 billion to $34.6 billion; the revision was mostly accounted for by an upward revision to travel. Services imports for August were revised down $0.1 billion to $28.7 billion; the revision was mostly accounted for by a downward revision to travel. Table of Contents December 1995 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 Averages5 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 Category9 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 Category18 Exhibit 14 Exports, Imports, and Balance of Goods by Selected Countries and Areas . . . . . . . . . . . . 19 Exhibit 15 Exports and Imports of Goods by Principal SITC Commodities21 Exhibit 16 Exports, Imports, and Balance of Advanced Technology Products23 Exhibit 16aExports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas24 Exhibit 17 Imports of Energy-Related Petroleum Products, Including Crude Oil. . . . . . . . . . . . . . . . 25 Exhibit 18 Exports and Imports of Motor Vehicles and Parts By Selected Countries26 Information on Goods and Services. . . . . . . . . . . . . . . . 27