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, JANUARY 11, 2008 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 CB08-07, BEA08-01, FT-900 (07-11) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES November 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 November exports of $142.3 billion and imports of $205.4 billion resulted in a goods and services deficit of $63.1 billion, up from $57.8 billion in October, revised. November exports were $0.6 billion more than October exports of $141.7 billion. November imports were $6.0 billion more than October imports of $199.4 billion. In November, the goods deficit increased $5.8 billion from October to $72.7 billion, and the services surplus increased $0.4 billion to $9.6 billion. Exports of goods increased $0.1 billion to $101.0 billion, and imports of goods increased $5.9 billion to $173.7 billion. Exports of services increased $0.5 billion to $41.4 billion, and imports of services increased $0.1 billion to $31.8 billion. In November, the goods and services deficit was up $4.7 billion from November 2006. Exports were up $16.4 billion, or 13.0 percent, and imports were up $21.1 billion, or 11.4 percent. Goods The October to November change in exports of goods reflected increases in automotive vehicles, parts, and engines ($0.5 billion); foods, feeds, and beverages ($0.4 billion); other goods ($0.4 billion); and industrial supplies and materials ($0.2 billion). Decreases occurred in capital goods ($0.9 billion) and consumer goods ($0.1 billion). The October to November change in imports of goods reflected increases in industrial supplies and materials ($4.7 billion); consumer goods ($0.8 billion); other goods ($0.3 billion); foods, feeds, and beverages ($0.2 billion); capital goods ($0.2 billion); and automotive vehicles, parts, and engines ($0.1 billion). The November 2006 to November 2007 change in exports of goods reflected increases in industrial supplies and materials ($4.0 billion); foods, feeds, and beverages ($2.5 billion); capital goods ($2.2 billion); automotive vehicles, parts, and engines ($1.8 billion); consumer goods ($1.0 billion); and other goods ($0.5 billion). The November 2006 to November 2007 change in imports of goods reflected increases in industrial supplies and materials ($12.2 billion); capital goods ($2.1 billion); consumer goods ($1.9 billion); automotive vehicles, parts, and engines ($1.2 billion); foods, feeds, and beverages ($0.7 billion); and other goods ($0.4 billion). Services Services exports increased $0.5 billion from October to November. The increase was mostly accounted for by increases in transfers under U.S. military sales contracts, other transportation, which includes freight and port services, and travel. Changes in other categories of services exports were small. Services imports increased $0.1 billion from October to November. The increase was mostly accounted for 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 imports were small. From November 2006 to November 2007, services exports increased $4.2 billion. The largest increases were in travel ($1.6 billion) and other private services ($1.1 billion). From November 2006 to November 2007, services imports increased $2.4 billion. The largest increases were in other private services ($1.1 billion) and travel ($0.5 billion). Goods and Services Moving Average For the three months ending in November, exports of goods and services averaged $141.5 billion, while imports of goods and services averaged $200.8 billion, resulting in an average trade deficit of $59.3 billion. For the three months ending in October, the average trade deficit was $57.3 billion, reflecting average exports of $140.5 billion and average imports of $197.7 billion. Selected Not Seasonally Adjusted Goods Details The November figures showed surpluses, in billions of dollars, with Australia $1.0 ($0.9 for October), Hong Kong $1.0 ($1.3), Singapore $0.6 ($0.7), and Egypt $0.3 ($0.5). Deficits were recorded, in billions of dollars, with China $24.0 ($25.9), Europe $12.0 ($13.7), OPEC $11.8 ($11.0), the European Union $10.4 ($11.9), Mexico $7.6 ($7.5), Japan $7.1 ($8.0), Canada $4.7 ($5.4), Taiwan $1.3 ($1.4), and Korea $1.2 ($0.8). Advanced technology products (ATP) exports were $23.6 billion in November and imports were $30.0 billion, resulting in a deficit of $6.4 billion. November exports were $1.6 billion less than the $25.2 billion in October, while imports were $1.9 billion less than the $31.8 billion in October. Revisions Goods carry-over in November was $0.3 billion (0.3 percent) for exports and $1.3 billion (0.7 percent) for imports. For October, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.4 billion (0.3 percent). For October, revised import carry-over was $0.5 billion (0.3 percent), revised down from $1.5 billion (0.8 percent). Services exports for October were revised up $0.2 billion to $40.8 billion. The revision was mostly accounted for by an upward revision in travel. Services imports for October were virtually unrevised at $31.7 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 February 14, 2008. Scheduled release dates through February 2009 are located on page 31