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, DECEMBER 10, 2010 For information on goods contact: U.S. Census Bureau: Matthew Przybocki 301-763-3148 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 CB10-185, BEA10-56, FT-900 (10-10) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES October 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 October exports of $158.7 billion and imports of $197.4 billion resulted in a goods and services deficit of $38.7 billion, down from $44.6 billion in September, revised. October exports were $4.9 billion more than September exports of $153.8 billion. October imports were $0.9 billion less than September imports of $198.4 billion. In October, the goods deficit decreased $5.7 billion from September to $51.4 billion, and the services surplus increased $0.2 billion to $12.7 billion. Exports of goods increased $4.5 billion to $112.3 billion, and imports of goods decreased $1.2 billion to $163.7 billion. Exports of services increased $0.4 billion to $46.4 billion, and imports of services increased $0.2 billion to $33.7 billion. The goods and services deficit increased $6.4 billion from October 2009 to October 2010. Exports were up $20.6 billion, or 14.9 percent, and imports were up $27.0 billion, or 15.9 percent. Goods (Census basis) The September to October increase in exports of goods reflected increases in industrial supplies and materials ($2.6 billion); foods, feeds, and beverages ($0.7 billion); automotive vehicles, parts, and engines ($0.4 billion); capital goods ($0.4 billion); other goods ($0.1 billion); and consumer goods ($0.1 billion). The September to October decrease in imports of goods reflected decreases in industrial supplies and materials ($1.7 billion); capital goods ($0.9 billion); and foods, feeds, and beverages ($0.1 billion). Increases occurred in consumer goods ($1.3 billion) and other goods ($0.3 billion). Automotive vehicles, parts, and engines were virtually unchanged. The October 2009 to October 2010 increase in exports of goods reflected increases in industrial supplies and materials ($7.2 billion); capital goods ($4.6 billion); foods, feeds, and beverages ($2.1 billion); automotive vehicles, parts, and engines ($1.8 billion); other goods ($1.2 billion); and consumer goods ($0.3 billion). The October 2009 to October 2010 increase in imports of goods reflected increases in industrial supplies and materials ($7.0 billion); capital goods ($7.0 billion); consumer goods ($5.6 billion); automotive vehicles, parts, and engines ($3.3 billion); foods, feeds, and beverages ($0.9 billion); and other goods ($0.3 billion). Services Services exports increased $0.4 billion from September to October. 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), travel, and other transportation (which includes freight and port services). A decrease in transfers under U.S. military sales contracts was partly offsetting. Changes in the other categories of services exports were small. Services imports increased $0.2 billion from September to October. The increase was more than accounted for by increases in other private services, travel, and passenger fares. A decrease in other transportation was partly offsetting. Changes in the other categories of services imports were small. The October 2009 to October 2010 increase in exports of services was $3.5 billion. The largest increases were in travel ($1.1 billion), other private services ($1.0 billion), and passenger fares ($0.7 billion). Within other private services, the largest increase was in business, professional, and technical services. The October 2009 to October 2010 increase in imports of services was $2.5 billion. The largest increases were in other transportation ($1.0 billion), other private services ($0.6 billion), and travel ($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 October, exports of goods and services averaged $155.2 billion, while imports of goods and services averaged $198.6 billion, resulting in an average trade deficit of $43.4 billion. For the three months ending in September, the average trade deficit was $44.8 billion, reflecting average exports of $153.3 billion and average imports of $198.1 billion. Selected Not Seasonally Adjusted Goods Details The October figures show surpluses, in billions of dollars, with Hong Kong $1.9 ($2.3 for September), Australia $1.3 ($1.2), Singapore $0.6 ($0.7), and Egypt $0.5 ($0.6). Deficits were recorded, in billions of dollars, with China $25.5 ($27.8), European Union $7.1 ($6.1), Mexico $5.8 ($5.8), OPEC $5.7 ($8.9), Japan $5.7 ($5.0), Germany $3.3 ($2.7), Ireland $2.7 ($2.2), Nigeria $1.8 ($2.5), Venezuela $1.2 ($1.9), Korea $1.1 ($1.3), Canada $1.1 ($0.9), and Taiwan $1.0 ($0.9). Advanced technology products exports were $23.7 billion in October and imports were $32.2 billion, resulting in a deficit of $8.4 billion. October exports were $0.8 billion more than the $23.0 billion in September, while October imports were $0.2 billion more than the $31.9 billion in September. Revisions (Goods on a Census basis, not seasonally adjusted) For September, goods exports were revised up $0.2 billion and imports were revised up $0.5 billion. Goods carry-over in October was $0.5 billion (0.5 percent) for exports and $1.0 billion (0.6 percent) for imports. For September, revised export carry-over was virtually zero. For September, revised import carry-over was $0.2 billion (0.1 percent), revised down from $0.6 billion (0.4 percent). Services exports and imports for April 2010 through September 2010 reflect the incorporation of more comprehensive and revised quarterly and monthly data. For services exports, the largest monthly revisions were in other private services. For services imports, the largest monthly revisions were in travel. Services exports for September were revised down $0.5 billion to $46.0 billion. The revision was mostly accounted for by downward revisions in other private services and royalties and license fees. An upward revision in transfers under U.S. military sales contracts was partly offsetting. Services imports for September were revised down $0.2 billion to $33.5 billion. The revision was mostly accounted for by downward revisions in travel and 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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