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 TUESDAY, DECEMBER 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 CB06-180, BEA06-54, FT-900 (06-10) U.S. INTER NATIONAL TRADE IN GOODS AND SERVICES October 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 October exports of $123.6 billion and imports of $182.5 billion resulted in a goods and services deficit of $58.9 billion, $5.4 billion less than the $64.3 billion in September, revised. October exports were $0.3 billion more than September exports of $123.4 billion. October imports were $5.1 billion less than September imports of $187.6 billion. In October, the goods deficit decreased $5.2 billion from September to $65.1 billion, and the services surplus increased $0.2 billion to $6.2 billion. Exports of goods decreased $0.1 billion to $88.5 billion, and imports of goods decreased $5.3 billion to $153.6 billion. Exports of services increased $0.4 billion to $35.2 billion, and imports of services increased $0.2 billion to $28.9 billion. In October, the goods and services deficit was down $7.7 billion from October 2005. Exports were up $15.0 billion, or 13.8 percent, and imports were up $7.3 billion, or 4.2 percent. Goods The September to October change in exports of goods reflected decreases in industrial supplies and materials ($0.5 billion) and automotive vehicles, parts, and engines ($0.1 billion). An increase occurred in consumer goods ($0.4 billion). Foods, feeds, and beverages; capital goods; and other goods were virtually unchanged. The September to October change in imports of goods reflected decreases in industrial supplies and materials ($5.2 billion); capital goods ($0.4 billion); and automotive vehicles, parts, and engines ($0.3 billion). Increases occurred in consumer goods ($0.2 billion); other goods ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). 2 The October 2005 to October 2006 change in exports of goods reflected increases in industrial supplies and materials ($4.8 billion); capital goods ($4.5 billion); consumer goods ($1.6 billion); other goods ($1.0 billion); foods, feeds, and beverages ($0.8 billion); and automotive vehicles, parts, and engines ($0.2 billion). The October 2005 to October 2006 change in imports of goods reflected increases in consumer goods ($3.8 billion); capital goods ($3.2 billion); foods, feeds, and beverages ($0.7 billion); and other goods ($0.5 billion). A decrease occurred in industrial supplies and materials ($3.1 billion). Automotive vehicles, parts, and engines were virtually unchanged. Services Services exports increased $0.4 billion from September to October. 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) and travel. Changes in other categories of services exports were small. Services imports increased $0.2 billion from September to October. The increase was more than accounted for by increases in other private services, travel, and passenger fares. Changes in other categories of services imports were small. From October 2005 to October 2006, services exports increased $2.5 billion. The largest increases were in other private services ($1.7 billion) and travel ($0.4 billion). From October 2005 to October 2006, services imports increased $2.3 billion. The largest increases were in other private services ($1.5 billion) and travel ($0.4 billion). Goods and Services Moving Average For the three months ending in October, exports of goods and services averaged $123.2 billion, while imports of goods and services averaged $187.1 billion, resulting in an average trade deficit of $63.9 billion. For the three months ending in September, the average trade deficit was $66.8 billion, reflecting average exports of $122.0 billion and average imports of $188.8 billion. Selected Not Seasonally Adjusted Goods Details The October figures showed surpluses, in billions of dollars, with Australia $1.0 ($0.9 for September), Hong Kong $0.7 ($1.0), Singapore $0.3 ($0.7), Egypt $0.3 ($0.2), and Argentina $0.1 ($0.2). Deficits were recorded, in billions of dollars, with China $24.4 ($23.0), Europe $11.4 ($9.0), the European Union $9.5 ($7.0), Japan $8.3 ($6.7), OPEC $7.5 ($9.2), Canada $5.4 ($5.7), Mexico $5.2 ($5.8), Korea $1.4 ($0.8), Taiwan $1.3 ($1.5), and Brazil $0.6 ($0.5). Advanced technology products (ATP) exports were $22.3 billion in October and imports were $27.1 billion, resulting in a deficit of $4.8 billion. October exports were $0.3 billion more than the $22.0 billion in September, while imports were $0.9 billion more than the $26.2 billion in September. Revisions Goods carry-over in October was $0.2 billion (0.2 percent) for exports and $1.1 billion (0.7 percent) for imports. For September, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.2 billion (0.2 percent). For September, revised import carry-over was $0.2 billion (0.2 percent), revised down from $1.0 billion (0.6 percent). Services exports and imports for April through September 2006 reflect the incorporation of more comprehensive and revised quarterly and monthly data. For services exports, the largest revisions over the entire period were in other private services. For services imports, the largest revisions over the entire period were in passenger fares. Services exports for September were revised up $0.2 billion to $34.8 billion; the revision was mostly accounted for by an upward revision in other private services that was partly offset by a downward revision in royalties and license fees. Services imports for September were virtually unchanged at $28.7 billion; travel was revised up, and royalties and license fees and other private services were revised down. 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