U.S. Census Bureau U.S. Bureau of Economic Analysis U.S. Department of Commerce NEWS Washington, DC 20230 FOR IMMEDIATE RELEASE 8:30 A.M. EDT FRIDAY, MARCH 13, 2009 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: Edward Dozier 202-606-9559 Media: Ralph Stewart 202-606-2649 CB09-39, BEA09-07, FT-900 (09-01) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES January 2009 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 January exports of $124.9 billion and imports of $160.9 billion resulted in a goods and services deficit of $36.0 billion, down from $39.9 billion in December, revised. January exports were $7.6 billion less than December exports of $132.5 billion. January imports were $11.5 billion less than December imports of $172.4 billion. In January, the goods deficit decreased $4.3 billion from December to $47.0 billion, and the services surplus decreased $0.4 billion to $10.9 billion. Exports of goods decreased $6.5 billion to $82.2 billion, and imports of goods decreased $10.9 billion to $129.2 billion. Exports of services decreased $1.1 billion to $42.7 billion, and imports of services decreased $0.6 billion to $31.8 billion. In January, the goods and services deficit decreased $23.1 billion from January 2008. Exports were down $24.4 billion, or 16.4 percent, and imports were down $47.6 billion, or 22.8 percent. Goods The December to January change in exports of goods reflected decreases in capital goods ($3.0 billion); automotive vehicles, parts, and engines ($2.2 billion); consumer goods ($0.9 billion); industrial supplies and materials ($0.7 billion); and other goods ($0.3 billion). An increase occurred in foods, feeds, and beverages ($0.1 billion). The December to January change in imports of goods reflected decreases in industrial supplies and materials ($4.6 billion); automotive vehicles, parts, and engines ($3.3 billion); capital goods ($1.9 billion); consumer goods ($0.4 billion); other goods ($0.3 billion); and foods, feeds, and beverages ($0.3 billion). The January 2008 to January 2009 change in exports of goods reflected decreases in industrial supplies and materials ($7.8 billion); capital goods ($6.4 billion); automotive vehicles, parts, and engines ($4.8 billion); consumer goods ($1.9 billion); foods, feeds, and beverages ($1.5 billion); and other goods ($0.4 billion). The January 2008 to January 2009 change in imports of goods reflected decreases in industrial supplies and materials ($26.0 billion); automotive vehicles, parts, and engines ($9.7 billion); capital goods ($5.7 billion); consumer goods ($3.4 billion); other goods ($0.6 billion); and foods, feeds, and beverages ($0.2 billion). Services Services exports decreased $1.1 billion from December to January. The decrease was mostly accounted for by decreases in travel, other transportation (which includes freight and port services), and passenger fares. Changes in other categories of services exports were small. Services imports decreased $0.6 billion from December to January. The decrease was mostly accounted for by decreases in other transportation, travel, and passenger fares. Changes in other categories of services imports were small. The January 2008 to January 2009 decrease in exports of services was $2.0 billion. The largest decreases were in other transportation ($1.0 billion), travel ($0.8 billion), and transfers under U.S. military sales contracts ($0.6 billion). Increases in royalties and license fees ($0.2 billion) and other private services ($0.1 billion), which includes items such as business, professional, and technical services, insurance services, and financial services, were partly offsetting. Within other private services, the largest increase was in business, professional, and technical services, and the largest decrease was in financial services. The January 2008 to January 2009 decrease in imports of services was $1.5 billion. The largest decreases were in other transportation ($1.0 billion), travel ($0.5 billion), and royalties and license fees ($0.2 billion). An increase in other private services ($0.3 billion) was partly offsetting. Within other private services, the largest increase was in business, professional, and technical services, and the largest decrease was in financial services. Goods and Services Moving Average For the three months ending in January, exports of goods and services averaged $132.7 billion, while imports of goods and services averaged $172.2 billion, resulting in an average trade deficit of $39.5 billion. For the three months ending in December, the average trade deficit was $46.8 billion, reflecting average exports of $141.0 billion and average imports of $187.8 billion. Selected Not Seasonally Adjusted Goods Details The January figures showed surpluses, in billions of dollars, with Hong Kong $1.0 ($1.0 for December), Singapore $0.7 ($0.7), Australia $0.6 ($0.7), and Egypt $0.2 ($0.2). Deficits were recorded, in billions of dollars, with China $20.6 ($19.9), Japan $4.3 ($5.3), OPEC $4.0 ($4.7), the European Union $3.5 ($7.0), Mexico $2.7 ($4.1), Canada $2.5 ($2.8), Korea $1.9 ($1.4), Taiwan $1.3 ($1.3), and Venezuela $1.1 ($1.2). Advanced technology products (ATP) exports were $18.7 billion in January and imports were $20.7 billion, resulting in a deficit of $2.0 billion. January exports were $3.3 billion less than the $22.1 billion in December, while imports were $3.6 billion less than the $24.3 billion in December. Revisions Goods carry-over in January was $0.1 billion (0.1 percent) for exports and $0.8 billion (0.6 percent) for imports. For December, revised export carry-over was $0.1 billion (0.1 percent), virtually unrevised. For December, revised import carry-over was $0.3 billion (0.2 percent), revised down from $1.1 billion (0.8 percent). Goods and services exports and imports for all months in 2008 were revised in order to align the seasonally adjusted monthly estimates with the annual totals. Services exports and imports for July through December 2008 reflect the incorporation of more comprehensive and revised quarterly and monthly data. For services exports, the largest monthly revisions were in royalties and license fees and other private services. For services imports, the largest monthly revisions were in other transportation, other private services, and royalties and license fees. Services exports for December were revised down $1.3 billion to $43.8 billion. The revision was mostly accounted for by downward revisions in royalties and license fees and other private services. Services imports for December were revised down $1.0 billion to $32.4 billion. The largest downward revisions were in other transportation, other private services, and royalties and license fees. TABLE OF CONTENTS Seasonally Adjusted Exhibit 1 U.S. International Trade in Goods and Services 1 Exhibit 2 U.S. International Trade in Goods and Services Three-month Moving Averages 2 Exhibit 3 U.S. Services by Major Category - Exports 3 Exhibit 4 U.S. Services by Major Category - Imports 4 Exhibit 5 U.S. Trade in Goods 5 Exhibit 6 Exports and Imports of Goods by Principal End-Use Category 6 Exhibit 7 Exports of Goods by End-Use Category and Commodity 7 Exhibit 8 Imports of Goods by End-Use Category and Commodity 9 Exhibit 9 Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Category Totals 11 Exhibit 10 Real Exports and Imports of Goods by Principal End-Use Category (2000 Chain- weighted dollars) 12 Exhibit 11 Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Commodity Category Totals (2000 Chain-weighted dollars) 13 Not Seasonally Adjusted Exhibit 12 U.S. Trade in Goods 14 Exhibit 13 Exports and Imports of Goods by Principal End-Use Category 15 Exhibit 14 Exports, Imports, and Balance of Goods by Selected Countries and Areas 16 Exhibit 15 Exports and Imports of Goods by Principal SITC Commodities 18 Exhibit 16 Exports, Imports, and Balance of Advanced Technology Products 20 Exhibit 16a Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas 21 Exhibit 17 Imports of Energy-Related Petroleum Products, Including Crude Oil 22 Exhibit 18 Exports and Imports of Motor Vehicles and Parts by Selected Countries 23 Information on Goods and Services A-1 NOTICE Changes to Country Groupings and Areas Effective with this release, country groupings and areas are revised to reflect changes for Kosovo, the Euro area, and OPEC. The country of Kosovo is listed in exhibits 6 and 6a of the FT-900 supplement. Beginning with the data for January 2009, Slovakia is included in the Euro area in exhibit 14 of the FT-900 and exhibit 6 of the FT-900 supplement. Also beginning with the data for January 2009, Indonesia is excluded from OPEC in exhibit 14 of the FT-900 and exhibit 6 of the FT-900 supplement. The statistics for prior time periods are not affected by these changes. Changes to Export Data Effective with this release, the Census Bureau has suppressed export data for certain 10-digit Schedule B commodity classifications related to the aircraft industry. To account for the suppression of commodity detail, the Census Bureau has begun publishing a new commodity classification series titled "Civilian Aircraft, Engines, and Parts" under Schedule B code 8800.00.0000. Goods export data from January 2004 through December 2008 will be revised as a result of analysis of the aircraft industry. The 2004 - 2008 revisions will be reflected in both the April FT-900 and the FT- 900 Annual Revision to be released on June 10, 2009 and in all standard revised Foreign Trade Division data products. Please note that not all Census Bureau publications or data products will be updated with these revisions. Information on revised data products is available at http://www.census.gov/foreign-trade/statistics/notices/aircraft/products.html. The suppression of commodity detail impacts all classification systems, including End-use, Standard International Trade Classification System (SITC), North American Industry Classification System (NAICS), and Advanced Technology Product (ATP). A complete list of affected classification systems and codes is available at http://www.census.gov/foreign- trade/statistics/notices/aircraft/codes.html. Changes to Data Products Effective with this release, the U.S. Census Bureau has modified the record layout and file format of several data products to accommodate changing technology and data user demand. New file formats and additional information can be found at http://www.census.gov/foreign- trade/statistics/notices/20080901_productchanges.html If you have any questions or need additional information, please contact the Census Bureau's Data Dissemination Branch on (301) 763-2311 or at ftd.data.dissemination@census.gov.