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 WEDNESDAY, JANUARY 10, 2007 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 CB07-07, BEA07-01, FT-900 (06-11) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES November 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 November exports of $124.8 billion and imports of $183.0 billion resulted in a goods and services deficit of $58.2 billion, $0.6 billion less than the $58.8 billion in October, revised. November exports were $1.1 billion more than October exports of $123.7 billion. November imports were $0.5 billion more than October imports of $182.5 billion. In November, the goods deficit decreased $0.3 billion from October to $64.7 billion, and the services surplus increased $0.2 billion to $6.5 billion. Exports of goods increased $0.6 billion to $89.1 billion, and imports of goods increased $0.3 billion to $153.8 billion. Exports of services increased $0.5 billion to $35.7 billion, and imports of services increased $0.3 billion to $29.2 billion. In November, the goods and services deficit was down $5.8 billion from November 2005. Exports were up $14.8 billion, or 13.4 percent, and imports were up $9.0 billion, or 5.2 percent. Goods The October to November change in exports of goods reflected increases in capital goods ($0.7 billion); automotive vehicles, parts, and engines ($0.3 billion); other goods ($0.2 billion); and consumer goods ($0.2 billion). Decreases occurred in industrial supplies and materials ($0.3 billion) and foods, feeds, and beverages ($0.2 billion). The October to November change in imports of goods reflected increases in consumer goods ($0.9 billion); capital goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.3 billion). Decreases occurred in industrial supplies and materials ($1.0 billion); foods, feeds, and beverages ($0.1 billion); and other goods ($0.1 billion). The November 2005 to November 2006 change in exports of goods reflected increases in industrial supplies and materials ($4.4 billion); capital goods ($4.2 billion); consumer goods ($1.4 billion); other goods ($1.2 billion); foods, feeds, and beverages ($0.7 billion); and automotive vehicles, parts, and engines ($0.4 billion). The November 2005 to November 2006 change in imports of goods reflected increases in consumer goods ($5.1 billion); capital goods ($3.5 billion); foods, feeds, and beverages ($0.5 billion); other goods ($0.4 billion); and automotive vehicles, parts, and engines ($0.3 billion). A decrease occurred in industrial supplies and materials ($3.2 billion). Services Services exports increased $0.5 billion from October to November. The increase was mostly accounted for by increases in travel, other private services (which includes items such as business, professional, and technical services, insurance services, and financial services), and transfers under U.S. military sales contracts. Changes in other categories of services exports were small. Services imports increased $0.3 billion from October to November. The increase was accounted for by increases in travel, other private services, and passenger fares, which were partly offset by a decrease in other transportation (which includes freight and port services). Changes in other categories of services imports were small. From November 2005 to November 2006, services exports increased $3.2 billion. The largest increases were in other private services ($1.7 billion) and travel ($0.8 billion). From November 2005 to November 2006, services imports increased $2.4 billion. The largest increases were in other private services ($1.5 billion) and travel ($0.7 billion). Goods and Services Moving Average For the three months ending in November, exports of goods and services averaged $123.9 billion, while imports of goods and services averaged $184.4 billion, resulting in an average trade deficit of $60.4 billion. For the three months ending in October, the average trade deficit was $63.9 billion, reflecting average exports of $123.3 billion and average imports of $187.1 billion. Selected Not Seasonally Adjusted Goods Details The November figures showed surpluses, in billions of dollars, with Singapore $1.0 ($0.3 for October), Hong Kong $0.9 ($0.7), Australia $0.8 ($1.0), Egypt $0.2 ($0.3), and Argentina $0.1 ($0.1). Deficits were recorded, in billions of dollars, with China $22.9 ($24.4), Europe $10.7 ($11.4), the European Union $9.5 ($9.5), Japan $7.9 ($8.3), OPEC $6.8 ($7.5), Mexico $5.4 ($5.2), Canada $5.4 ($5.5), Korea $1.2 ($1.4), Taiwan $1.1 ($1.3), and Brazil $0.4 ($0.6). Advanced technology products (ATP) exports were $22.8 billion in November and imports were $27.2 billion, resulting in a deficit of $4.5 billion. November exports were $0.5 billion more than the $22.3 billion in October, while imports were $0.1 billion more than the $27.1 billion in October. Revisions Goods carry-over in November was $0.3 billion (0.3 percent) for exports and $1.0 billion (0.7 percent) for imports. For October, revised export carry-over was virtually zero, revised down from $0.2 billion (0.2 percent). For October, revised import carry-over was $0.2 billion (0.2 percent), revised down from $1.1 billion (0.7 percent). Services exports for October were virtually unchanged at $35.2 billion. Services imports for October were virtually unchanged at $28.9 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 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