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. EDT FRIDAY, JULY 10, 2009 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: Edward Dozier 202-606-9559 Maria Iseman 301-763-2311 Media: Ralph Stewart 202-606-2649 CB09-101, BEA09-32, FT-900 (09-05) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES May 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 June exports of $125.8 billion and imports of $152.8 billion resulted in a goods and services deficit of $27.0 billion, up from $26.0 billion in May, revised. June exports were $2.4 billon more than May exports of $123.4 billion. June imports were $3.5 billion more than May imports of $149.3 billion. In June, the goods deficit increased $1.2 billion from May to $38.4 billion, and the services surplus increased $0.1 billion to $11.4 billion. Exports of goods increased $1.9 billion to $84.0 billion, and imports of goods increased $3.0 billion to $122.4 billion. Exports of services increased $0.5 billion to $41.8 billion, and imports of services increased $0.4 billion to $30.4 billion. In June, the goods and services deficit decreased $33.2 billion from June 2008. Exports were down $35.8 billion, or 22.2 percent, and imports were down $69.0 billion, or 31.1 percent. Goods The May to June increase in exports of goods reflected increases in industrial supplies and materials ($1.2 billion); capital goods ($0.4 billion); foods, feeds, and beverages ($0.3 billion); and automotive vehicles, parts, and engines ($0.1 billion). Consumer goods and other goods were virtually unchanged. The May to June increase in imports of goods reflected increases in industrial supplies and materials ($3.9 billion); automotive vehicles, parts, and engines ($0.9 billion); foods, feeds, and beverages ($0.1 billion); and other goods ($0.1 billion). Decreases occurred in consumer goods ($1.7 billion) and capital goods ($0.1 billion). The June 2008 to June 2009 decrease in exports of goods reflected decreases in industrial supplies and materials ($12.4 billion); capital goods ($8.0 billion); automotive vehicles, parts, and engines ($5.3 billion); consumer goods ($1.9 billion); foods, feeds, and beverages ($1.9 billion); and other goods ($0.8 billion). The June 2008 to June 2009 decrease in imports of goods reflected decreases in industrial supplies and materials ($36.3 billion); capital goods ($9.7 billion); automotive vehicles, parts, and engines ($9.4 billion); consumer goods ($7.6 billion); other goods ($0.9 billion); and foods, feeds, and beverages ($0.6 billion). Services Services exports increased $0.5 billion from May to June. The increase was more than accounted for by increases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services), travel, other transportation (which includes freight and port services), and passenger fares. Changes in other categories of services exports were small. Services imports increased $0.4 billion from May to June. The increase was mostly accounted for by increases in other private services, travel, passenger fares, and direct defense expenditures. Changes in other categories of services imports were small. The June 2008 to June 2009 decrease in exports of services was $5.4 billion. The largest decreases were in travel ($1.8 billion), other transportation ($1.7 billion), and other private services ($0.7 billion). Within other private services, the largest decreases were in business, professional, and technical services and financial services. The June 2008 to June 2009 decrease in imports of services was $3.8 billion. The largest decreases were in other transportation ($2.0 billion), travel ($0.9 billion), and passenger fares ($0.5 billion). Goods and Services Moving Average For the three months ending in June, exports of goods and services averaged $123.5 billion, while imports of goods and services averaged $150.8 billion, resulting in an average trade deficit of $27.3 billion. For the three months ending in May, the average trade deficit was $27.8 billion, reflecting average exports of $122.9 billion and average imports of $150.7 billion. Selected Not Seasonally Adjusted Goods Details The June figures show surpluses, in billions of dollars, with Hong Kong $1.4 ($1.5 for May), Australia $1.0 ($1.0), Singapore $0.5 ($0.3), and Egypt $0.2 ($0.2). Deficits were recorded, in billions of dollars, with China $18.4 ($17.5), OPEC $5.9 ($4.1), the European Union $4.5 ($2.8), Japan $3.7 ($1.9), Mexico $3.4 ($3.9), Venezuela $1.8 ($1.3), Canada $1.6 ($0.5), Nigeria $1.3 ($0.8), Korea $0.9 ($0.7), and Taiwan $0.6 ($0.9). Advanced technology products (ATP) exports were $20.7 billion in June and imports were $25.3 billion, resulting in a deficit of $4.6 billion. June exports were $1.5 billion more than the $19.2 billion in May, while June imports were $2.6 billion more than the $22.8 billion in May. Revisions Goods carry-over in June was $0.1 billion (0.1 percent) for exports and $0.5 billion (0.4 percent) for imports. For May, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.1 billion (0.2 percent). For May, revised import carry-over was $0.2 billion (0.2 percent), revised down from $0.6 billion (0.6 percent). Services exports for May were virtually unrevised at $41.3 billion. An upward revision in travel was mostly offset by a downward revision in other transportation. Services imports for May were revised up $0.1 billion to $30.0 billion. The revision was mostly accounted for by an upward revision in passenger fares. 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 (2005 Chain- weighted dollars) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Exhibit 11 Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Commodity Category Totals (2005 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.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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