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Release date: June 10, 2010
In this release and the accompanying “U.S. International Trade in Goods and Services: April 2010,” the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are jointly publishing revised statistics on both U.S. trade in goods and U.S. trade in services beginning with 1999. The revised statistics on goods and services will also be included in the annual revision of the U.S. international transactions accounts (ITAs), which BEA will release on June 17, 2010.
The annual revision has not changed the overall trend in the goods and services balance. On an annual basis, for 1999-2009, the goods and services deficit was revised one percent or less each year. Downward revisions in the goods deficit were mostly offset by downward revisions in the services surplus. The revisions in goods and services were due, in part, to the reclassification of certain transactions from services to goods, which is described below. For 2009, the goods and services deficit was revised down $3.7 billion, or 1.0 percent.
Beginning with statistics for 1999, certain goods-related transactions previously recorded in services transactions, including fuel purchases by U.S. military agencies and by transportation carriers and equipment exported under the U.S. Foreign Military Sales program, were reclassified to goods on a balance of payments (BOP) basis. These reclassifications resulted in upward revisions to goods and offsetting downward revisions to services. For goods, the reclassifications were made through new BOP adjustments—adjustments that BEA applies to goods exports and imports on a Census basis to convert them to a BOP basis. These adjustments are combined and presented as “Net adjustments” in this report. In the ITAs, the adjustments will be distributed to the appropriate end-use commodity categories, which BEA presents in a standard table of the ITAs, Table 2. U.S. Trade in Goods.
The reclassifications are part of a multi-year effort to align the ITAs with the most recent international guidelines for international economic accounts as released in 2009 in the sixth edition of the International Monetary Fund’s Balance of Payments and International Investment Position Manual. Additional information on BEA’s 2010 annual revision of the ITAs and plans for implementing the new international standards were presented in the May 2010 issue of the Survey of Current Business.
The 2009 not seasonally adjusted Census-basis goods statistics were revised to redistribute monthly data that arrived too late for inclusion in the month of transaction but that were included, initially, in the month in which data were received. In addition, corrections were made to previously published 2009 statistics. Seasonal and trading-day adjustments were then recomputed, and the seasonally adjusted current-dollar series were revised beginning with statistics for 2007. The chain-weighted dollar series were also revised beginning with statistics for 2007.
In addition to the new BOP adjustments described above, new BOP adjustments for exports and imports for 2007-2009 were included to phase in a revised Census methodology for low-value goods. This methodology was implemented for goods on a Census basis beginning with statistics for 2010. Also, an existing BOP adjustment for imports, which is used to reclassify transactions in repair services from goods to services, was revised to improve coverage beginning with statistics for 1999. Finally, other significant revisions to BOP adjustments, resulting from updated source data, begin with statistics for 2009.
In addition to revisions resulting from the reclassification of transactions as described above, services exports and imports were revised due to updated source data beginning with statistics for 2006. The revisions resulted largely from the incorporation of newly available and revised data from BEA quarterly services surveys and from initial results of BEA’s benchmark survey of international insurance transactions.
|FT900||U.S. International Trade in Goods and Services - Annual Revision for 2009|
|Exhibit 1||U.S. International Trade in Goods and Services|
|Exhibit 2||U.S. Services by Major Category - Exports|
|Exhibit 3||U.S. Services by Major Category - Imports|
|Exhibit 4||U.S. Trade in Goods|
|Exhibit 5||Exports of Goods by Principal End-Use Category|
|Exhibit 5a||Imports of Goods by Principal End-Use Category|
|Exhibit 6||Exports of Goods by End-Use Category and Commodity|
|Exhibit 7||Imports of Goods by End-Use Category and Commodity|
|Exhibit 8||Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Category Totals|
|Exhibit 9||Real Exports of Goods by Principal End-Use Category (2005 Chain-weighted dollars)|
|Exhibit 9a||Real Imports of Goods by Principal End-Use Category (2005 Chain-weighted dollars)|
|Exhibit 10||Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Commodity Category Totals (2005 Chain-weighted dollars)|
|Not Seasonally Adjusted|
|Exhibit 11||U.S. Trade in Goods|
|Exhibit 12||Exports of Goods by Principal End-Use Category|
|Exhibit 12a||Imports of Goods by Principal End-Use Category|
|Exhibit 13 - Annual||Exports, Imports, and Trade Balance by Country and Area: Annual Totals|
|Exhibit 13: Part 1||Exports, Imports, and Trade Balance by Country and Area: January - March|
|Exhibit 13: Part 2||Exports, Imports, and Trade Balance by Country and Area: April - June|
|Exhibit 13: Part 3||Exports, Imports, and Trade Balance by Country and Area: July - September|
|Exhibit 13: Part 4||Exports, Imports, and Trade Balance by Country and Area: October - December|
|Exhibit 14: Annual||Exports and Imports of Goods by Principal SITC Commodity Groupings: Annual Totals|
|Exhibit 14: Part 1||Exports and Imports of Goods by Principal SITC Commodity Groupings: January -April|
|Exhibit 14: Part 2||Exports and Imports of Goods by Principal SITC Commodity Groupings: May - August|
|Exhibit 14: Part 3||Exports and Imports of Goods by Principal SITC Commodity Groupings: September - December|
|Exhibit 15||Exports, Imports, and Balance of Advanced Technology Products|
|Exhibit 15a: Annual||Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas: Annual Totals|
|Exhibit 15a: Part 1||Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas: January -April|
|Exhibit 15a: Part 2||Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas: May - August|
|Exhibit 15a: Part 3||Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas: September - December|
|Exhibit 16||Imports of Energy-Related Petroleum Products, Including Crude Oil|
|Exhibit 17: Annual||Exports and Imports of Motor Vehicles and Parts by Selected Countries: Annual Totals|
|Exhibit 17: Part 1||Exports and Imports of Motor Vehicles and Parts by Selected Countries: January - March|
|Exhibit 17: Part 2||Exports and Imports of Motor Vehicles and Parts by Selected Countries: April - June|
|Exhibit 17: Part 3||Exports and Imports of Motor Vehicles and Parts by Selected Countries: July - September|
|Exhibit 17: Part 4||Exports and Imports of Motor Vehicles and Parts by Selected Countries: October - December|
|Exhibit 18||U.S. International Trade in Goods and Services (1999-2006)|
|Exhibit 19||U.S. Services by Major Category - Exports (1999-2006)|
|Exhibit 20||U.S. Services by Major Category - Imports (1999-2006)|
Deficit: $44.4 Billion
Exports: $195.5 Billion
Imports: $239.8 Billion
Next release: August 6, 2014
Complete Release Schedule
Collection of videos to enhance export training.
Aug 20-21, 2014