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Release date: June 9, 2011
In this release and in the accompanying “U.S. International Trade in Goods and Services: April 2011,” 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 16, 2011.
The annual revision has not changed the overall trend in the goods and services balance. On an annual basis, the goods and services deficit was revised less than 1 percent for nearly all years; the exception was 2009, when it was revised up 1.7 percent. For 2010, the goods and services deficit was revised up $4.3 billion, or 0.9 percent. The goods deficit was revised down for all years; the services surplus was revised up for 1999-2007 and down for 2008-2010.
The 2010 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 the data were received. In addition, corrections were made to previously published 2010 statistics. Seasonal and trading-day adjustments were then recalculated, and the seasonally adjusted current-dollar series were revised beginning with 2008. The chain-weighted dollar series were also revised beginning with statistics for 2008.
Balance of payments (BOP) adjustments – adjustments that BEA applies to Census-basis goods exports and imports to convert them to a BOP basis – were revised beginning with statistics for 1999. These adjustments are combined and presented as “Net Adjustments” in this report. Adjustments to low-value exports and imports were introduced for 1999-2006 and were revised for 2007-2009. BOP adjustments for goods procured in ports were revised for exports beginning with statistics for 2007 and for imports beginning with statistics for 2004. BOP adjustments that exhibit significant seasonal patterns are now seasonally adjusted for both exports and imports beginning with statistics for 1999.
Beginning with statistics for 1999, the following items were reclassified within the services accounts: fees for the rights to distribute film and television recordings from other private services to royalties and license fees; postal services from U.S. government miscellaneous services to other transportation; and cruise fares from passenger fares to travel. These reclassifications are part of a multiyear effort to align the ITAs with the most recent international guidelines for international economic accounts. Information about BEA’s 2011 annual revision of the ITAs and plans for implementing the new international standards were presented in the May 2011 issue of the Survey of Current Business.
Services exports were also revised because BEA has (1) adopted a new method for measuring expenditures in the United States of foreign residents who are working in the United States for less than one year and (2) excluded expenditures of foreign nationals who are working for international organizations located in the United States to more closely align with international guidelines. Both of these changes resulted in revisions beginning with statistics for 1999. Services imports were also revised because BEA has implemented a new method for measuring non-fuel expenditures of U.S. air carriers in foreign ports beginning with statistics for 2004.
In addition to the changes described above, services exports and imports were revised to incorporate updated source data, including newly available data from BEA’s quarterly services surveys beginning with statistics for 2008 and initial results of BEA’s benchmark survey of international financial services transactions beginning with statistics for 2007.
|FT900||U.S. International Trade in Goods and Services - Annual Revision for 2010|
|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 (1999-2007)|
|Exhibit 19||U.S. Services by Major Category - Exports (1999-2007)|
|Exhibit 20||U.S. Services by Major Category - Imports (1999-2007)|
Deficit: $41.5 Billion
Exports: $195.9 Billion
Imports: $237.4 Billion
Next release: September 4, 2014
Complete Release Schedule
Collection of videos to enhance export training.
Sep 9-10, 2014