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 THURSDAY, OCTOBER 14, 2010 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: Anne Flatness 202-606-9548 Maria Iseman 301-763-2311 Media: Ralph Stewart 202-606-2649 CB10-154, BEA10-49, FT-900 (10-08) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES August 2010 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 August exports of $153.9 billion and imports of $200.2 billion resulted in a goods and services deficit of $46.3 billion, up from $42.6 billion in July, revised. August exports were $0.3 billion more than July exports of $153.5 billion. August imports were $4.1 billion more than July imports of $196.1 billion. In August, the goods deficit increased $3.9 billion from July to $59.0 billion, and the services surplus increased $0.1 billion to $12.6 billion. Exports of goods were virtually unchanged at $107.7 billion, and imports of goods increased $3.9 billion to $166.7 billion. Exports of services increased $0.3 billion to $46.2 billion, and imports of services increased $0.2 billion to $33.5 billion. The goods and services deficit increased $15.3 billion from August 2009 to August 2010. Exports were up $23.5 billion, or 18.0 percent, and imports were up $38.8 billion, or 24.0 percent. Goods (Census basis) The July to August decrease in exports of goods reflected decreases in capital goods ($1.5 billion) and other goods ($0.6 billion). Increases occurred in foods, feeds, and beverages ($1.2 billion); industrial supplies and materials ($0.6 billion); and automotive vehicles, parts, and engines ($0.1 billion). Consumer goods were virtually unchanged. The July to August increase in imports of goods reflected increases in consumer goods ($1.4 billion); capital goods ($0.9 billion); automotive vehicles, parts, and engines ($0.7 billion); other goods ($0.4 billion); industrial supplies and materials ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). The August 2009 to August 2010 increase in exports of goods reflected increases in industrial supplies and materials ($7.2 billion); capital goods ($6.4 billion); automotive vehicles, parts, and engines ($2.0 billion); consumer goods ($1.3 billion); other goods ($1.2 billion); and foods, feeds, and beverages ($1.0 billion). The August 2009 to August 2010 increase in imports of goods reflected increases in industrial supplies and materials ($12.0 billion); capital goods ($8.3 billion); consumer goods ($7.4 billion); automotive vehicles, parts, and engines ($6.1 billion); foods, feeds, and beverages ($1.1 billion); and other goods ($0.5 billion). Services Services exports increased $0.3 billion from July to August. The increase was mostly accounted for by increases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) and travel. Changes in the other categories of services exports were small. Services imports increased $0.2 billion from July to August. The increase was more than accounted for by increases in travel, other transportation (which includes freight and port services), and other private services. Changes in the other categories of services imports were small. The August 2009 to August 2010 increase in exports of services was $4.4 billion. The largest increases were in other private services ($1.5 billion), royalties and license fees ($1.3 billion), and travel ($1.1 billion). Within other private services, the largest increase was in business, professional, and technical services. The August 2009 to August 2010 increase in imports of services was $2.8 billion. The largest increases were in other transportation ($1.2 billion), other private services ($0.6 billion), and royalties and license fees ($0.4 billion). Within other private services, the largest increase was in business, professional, and technical services. Goods and Services Moving Average For the three months ending in August, exports of goods and services averaged $152.7 billion, while imports of goods and services averaged $198.9 billion, resulting in an average trade deficit of $46.2 billion. For the three months ending in July, the average trade deficit was $44.7 billion, reflecting average exports of $152.2 billion and average imports of $196.9 billion. Selected Not Seasonally Adjusted Goods Details The August figures show surpluses, in billions of dollars, with Hong Kong $1.9 ($1.8 for July), Singapore $1.1 ($1.2), Australia $1.0 ($0.9), and Egypt $0.4 ($0.4). Deficits were recorded, in billions of dollars, with China $28.0 ($25.9), OPEC $9.0 ($8.0), European Union $8.1 ($9.9), Mexico $6.0 ($5.3), Japan $5.8 ($4.9), Germany $3.4 ($3.6), Nigeria $2.7 ($2.4), Ireland $2.5 ($2.4), Venezuela $2.2 ($1.8), Canada $2.2 ($1.4), Korea $1.3 ($1.0), and Taiwan $1.2 ($1.0). Advanced technology products exports were $21.8 billion in August and imports were $30.6 billion, resulting in a deficit of $8.8 billion. August exports were $2.1 billion less than the $23.9 billion in July, while August imports were $0.2 billion less than the $30.8 billion in July. Revisions (Goods on a Census basis, not seasonally adjusted) For July, goods exports were virtually unrevised and imports were revised down $0.2 billion. Goods carry-over in August was $0.2 billion (0.2 percent) for exports and $0.6 billion (0.3 percent) for imports. For July, revised export carry- over was virtually zero. For July, revised import carry-over was $0.4 billion (0.3 percent), revised down from $1.1 billion (0.7 percent). Services exports for July were revised up $0.2 billion to $45.9 billion. The revision was mostly accounted for by upward revisions in travel and passenger fares. Services imports for July were revised up $0.2 billion to $33.4 billion. The revision was mostly accounted for by an upward revision in travel. 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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