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, AUGUST 11, 2011 For information on goods contact: For information on services contact: U.S. Census Bureau: U.S. Bureau of Economic Analysis: Matthew Przybocki 301-763-3148 Technical: Edward Dozier 202-606-9559 Maria Iseman 301-763-2311 Media: Ralph Stewart 202-606-2649 CB11-139, BEA11-41, FT-900 (11-06) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES June 2011 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 June exports of $170.9 billion and imports of $223.9 billion resulted in a goods and services deficit of $53.1 billion, up from $50.8 billion in May, revised. June exports were $4.1 billion less than May exports of $175.0 billion. June imports were $1.9 billion less than May imports of $225.8 billion. In June, the goods deficit increased $2.1 billion from May to $67.6 billion, and the services surplus decreased $0.1 billion to $14.5 billion. Exports of goods decreased $4.1 billion to $121.2 billion, and imports of goods decreased $1.9 billion to $188.8 billion. Exports of services remained virtually unchanged at $49.6 billion, and imports of services remained virtually unchanged at $35.1 billion. The goods and services deficit increased $6.2 billion from June 2010 to June 2011. Exports were up $19.5 billion, or 12.9 percent, and imports were up $25.7 billion, or 13.0 percent. Goods (Census Basis) The May to June decrease in exports of goods reflected decreases in industrial supplies and materials ($2.0 billion); capital goods ($1.5 billion); foods, feeds, and beverages ($0.8 billion); and other goods ($0.5 billion). An increase occurred in consumer goods ($0.7 billion). Automotive vehicles, parts, and engines were virtually unchanged. The May to June decrease in imports of goods reflected decreases in industrial supplies and materials ($2.2 billion); automotive vehicles, parts, and engines ($0.2 billion); capital goods ($0.1 billion); and consumer goods ($0.1 billion). Increases occurred in other goods ($0.7 billion) and foods, feeds, and beverages ($0.1 billion). The June 2010 to June 2011 increase in exports of goods reflected increases in industrial supplies and materials ($7.5 billion); capital goods ($3.0 billion); foods, feeds, and beverages ($2.2 billion); consumer goods ($1.4 billion); and automotive vehicles, parts, and engines ($1.4 billion). A decrease occurred in other goods ($0.3 billion). The June 2010 to June 2011 increase in imports of goods reflected increases in industrial supplies and materials ($15.8 billion); capital goods ($5.2 billion); foods, feeds, and beverages ($1.5 billion); other goods ($0.7 billion); and consumer goods ($0.6 billion). Automotive vehicles, parts, and engines were virtually unchanged. Services Services exports were virtually unchanged from May to June. Decreases in passenger fares and other transportation (which includes freight and port services) were mostly offset by an increase in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services). Changes in the other categories of services exports were small. Services imports were virtually unchanged from May to June. The changes in all categories of services imports were small and mostly offsetting. The June 2010 to June 2011 increase in exports of services was $3.7 billion. The largest increases were in other private services ($2.4 billion), travel ($0.8 billion), and passenger fares ($0.2 billion). Within other private services, the largest increases were in financial services and business, professional, and technical services. The June 2010 to June 2011 increase in imports of services was $1.2 billion. The largest increases were in other private services ($0.6 billion), travel ($0.2 billion), and passenger fares ($0.2 billion). Within other private services, the largest increases were in business, professional, and technical services and financial services. Goods and Services Moving Average For the three months ending in June, exports of goods and services averaged $173.9 billion, while imports of goods and services averaged $223.1 billion, resulting in an average trade deficit of $49.2 billion. For the three months ending in May, the average trade deficit was $47.1 billion, reflecting average exports of $174.7 billion and average imports of $221.8 billion. Selected Not Seasonally Adjusted Goods Details The June figures show surpluses, in billions of dollars, with Hong Kong $2.4 ($2.1 for May), Australia $1.4 ($1.2), Singapore $1.0 ($0.8), and Egypt $0.3 ($0.4). Deficits were recorded, in billions of dollars, with China $26.7 ($25.0), OPEC $13.8 ($11.3), European Union $9.8 ($8.8), Mexico $6.4 ($6.3), Japan $4.0 ($2.6), Germany $4.0 ($3.8), Venezuela $3.3 ($3.1), Nigeria $3.0 ($2.3), Canada $2.8 ($2.7), Ireland $2.8 ($2.4), Taiwan $1.8 ($1.5), and Korea $1.6 ($1.3). Advanced technology products exports were $24.7 billion in June and imports were $33.5 billion, resulting in a deficit of $8.8 billion. June exports were $1.3 billion more than the $23.3 billion in May, while June imports were $2.2 billion more than the $31.2 billion in May. Revisions For May goods on a Census basis, not seasonally adjusted, exports were revised up $0.1 billion and imports were revised up $0.7 billion. Goods carry-over in June was $0.2 billion (0.2 percent) for exports and $1.7 billion (0.9 percent) for imports. For May, revised export carry-over was $0.1 billion (0.0 percent), virtually unrevised. For May, revised import carry-over was $0.1 billion (0.0 percent), revised down from $0.7 billion (0.4 percent). For May goods on a balance of payment basis, exports were revised up $0.1 billion and imports were revised up $0.7 billion. Services exports and imports for May were virtually unrevised. 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A-1 3