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U.S. International Trade in Goods and Services - Annual Revision for 2010

Release date: June 9, 2011

Contents:


Notices

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.

  • Goods:

    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.

  • Services:

    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.


Current Issue

Exhbit Number Title Format
FT900 U.S. International Trade in Goods and Services - Annual Revision for 2010
Individual Exhibits
Seasonally Adjusted
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
Historical Data
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)

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August 2014
Trade Numbers

Deficit: $40.1 Billion
Exports: $198.5 Billion
Imports: $238.6 Billion

Next release: November 4, 2014
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Source: U.S. Census Bureau | Foreign Trade | ftdwebmaster@census.gov |  Last Revised: July 12, 2011