U.S. Census Bureau U.S. Bureau of Economic Analysis NEWS U.S. Department of Commerce ? Washington, DC 20230 FOR IMMEDIATE RELEASE 8:30 A.M. EST FRIDAY, NOVEMBER 9, 2007 For information on goods contact: U.S. Census Bureau: Nick Orsini 301-763-6959 Maria Iseman 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 CB07-160, BEA07-52, FT-900 (07-09) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES September 2007 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 $140.1 billion and imports of $196.6 billion resulted in a goods and services deficit of $56.5 billion, compared with $56.8 billion in August, revised. September exports were $1.5 billion more than August exports of $138.6 billion. September imports were $1.2 billion more than August imports of $195.4 billion. In September, the goods deficit decreased $0.3 billion from August to $65.7 billion, and the services surplus was virtually unchanged at $9.3 billion. Exports of goods increased $1.2 billion to $100.2 billion, and imports of goods increased $0.9 billion to $166.0 billion. Exports of services increased $0.3 billion to $39.9 billion, and imports of services increased $0.2 billion to $30.6 billion. In September, the goods and services deficit was down $7.7 billion from September 2006. Exports were up $16.8 billion, or 13.6 percent, and imports were up $9.1 billion, or 4.9 percent. Goods The August to September change in exports of goods reflected increases in foods, feeds, and beverages ($0.7 billion); industrial supplies and materials ($0.7 billion); consumer goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.1 billion). Decreases occurred in capital goods ($0.4 billion) and other goods ($0.3 billion). The August to September change in imports of goods reflected increases in capital goods ($0.8 billion); automotive vehicles, parts, and engines ($0.3 billion); and consumer goods ($0.2 billion). A decrease occurred in industrial supplies and materials ($0.4 billion). Other goods and foods, feeds, and beverages were virtually unchanged. The September 2006 to September 2007 change in exports of goods reflected increases in industrial supplies and materials ($3.5 billion); capital goods ($2.7 billion); food, feeds, and beverages ($2.4 billion); consumer goods ($2.0 billion); and automotive vehicles, parts, and engines ($1.6 billion). A decrease occurred in other goods ($0.3 billion). The September 2006 to September 2007 change in imports of goods reflected increases in capital goods ($2.4 billion); consumer goods ($1.5 billion); automotive vehicles, parts, and engines ($1.2 billion); industrial supplies and materials ($0.6 billion); food, feeds, and beverages ($0.6 billion); and other goods ($0.3 billion). Services Services exports increased $0.3 billion from August to September. The increase was more than accounted for by increases in travel, passenger fares, and transfers under U.S. military sales contracts. Changes in other categories of services exports were small. Services imports increased $0.2 billion from August to September. The largest increase was in travel. Changes in other categories of services imports were small. From September 2006 to September 2007, services exports increased $4.4 billion. The largest increases were in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services ($1.8 billion), travel ($1.4 billion), and other transportation, which includes freight and port services ($0.5 billion). From September 2006 to September 2007, services imports increased $1.9 billion. The largest increases were in other private services ($1.0 billion), travel ($0.3 billion), and royalties and license fees ($0.2 billion). Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $138.8 billion, while imports of goods and services averaged $196.3 billion, resulting in an average trade deficit of $57.4 billion. For the three months ending in August, the average trade deficit was $58.4 billion, reflecting average exports of $136.8 billion and average imports of $195.2 billion. Selected Not Seasonally Adjusted Goods Details The September figures showed surpluses, in billions of dollars, with Hong Kong $1.4 ($1.1 for August), Australia $1.0 ($0.9), Singapore $0.7 ($0.6), Egypt $0.4 ($0.4), and Argentina $0.3 ($0.1). Deficits were recorded, in billions of dollars, with China $23.8 ($22.5), OPEC $11.1 ($11.4), Europe $7.3 ($11.1), the European Union $6.4 ($10.2), Mexico $6.3 ($6.9), Japan $6.2 ($6.7), Canada $4.9 ($5.0), Taiwan $1.3 ($0.8), Korea $0.9 ($0.8), and Brazil $0.1 ($0.2). Advanced technology products (ATP) exports were $22.9 billion in September and imports were $28.1 billion, resulting in a deficit of $5.2 billion. September exports were $0.3 billion less than the $23.2 billion in August, while imports were $0.1 billion more than the $27.9 billion in August. Revisions Goods carry-over in September was $0.1 billion (0.1 percent) for exports and $0.9 billion (0.6 percent) for imports. For August, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.4 billion (0.4 percent). For August, revised import carry-over was $0.3 billion (0.2 percent), revised down from $1.5 billion (0.9 percent). Services exports for August were revised up $0.3 billion to $39.7 billion. The revision was mostly accounted for by a upward revision in travel. Services imports for August were virtually unchanged at $30.4 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: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, 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. The next FT-900 release is December 12, 2007. 2 Scheduled release dates through February 2009 are located on page 31 SOURCE: Report FT900 (CB-07-160, BEA-07-52), Bureau of the Census, Foreign Trade Division, September 2007. For more information, contact Nick Orsini (301-763-6959) or Maria Iseman (301-763-2311), Foreign Trade Division.