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 THURSDAY, NOVEMBER 10, 2011 For information on goods contact: For information on services contact: U.S. Census Bureau: Matthew Przybocki 301-763-3148 Maria Iseman 301-763-2311 U.S. Bureau of Economic Analysis: Technical: Edward Dozier 202-606-9559 Media:Ralph Stewart 202-606-2649 CB11-188, BEA11-54, FT-900 (11-09) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES September 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 September exports of $180.4 billion and imports of $223.5 billion resulted in a goods and services deficit of $43.1 billion, down from $44.9 billion in August, revised. September exports were $2.5 billion more than August exports of $177.9 billion. September imports were $0.7 billion more than August imports of $222.8 billion. In September, the goods deficit decreased $2.0 billion from August to $58.9 billion, and the services surplus decreased $0.2 billion to $15.8 billion. Exports of goods increased $2.6 billion to $129.3 billion, and imports of goods increased $0.6 billion to $188.2 billion. Exports of services decreased $0.1 billion to $51.1 billion, and imports of services increased $0.1 billion to $35.3 billion. The goods and services deficit decreased $0.9 billion from September 2010 to September 2011. Exports were up $24.7 billion, or 15.9 percent, and imports were up $23.8 billion, or 11.9 percent. Goods (Census Basis) The August to September increase in exports of goods reflected increases in industrial supplies and materials ($1.4 billion); consumer goods ($0.8 billion); automotive vehicles, parts, and engines ($0.2 billion); and capital goods ($0.1 billion). A decrease occurred in other goods ($0.1 billion). Foods, feeds, and beverages were virtually unchanged. The August to September increase in imports of goods reflected increases in industrial supplies and materials ($0.9 billion); automotive vehicles, parts, and engines ($0.5 billion); and foods, feeds, and beverages ($0.2 billion). Decreases occurred in other goods ($0.6 billion); capital goods ($0.4 billion); and consumer goods ($0.2 billion). The September 2010 to September 2011 increase in exports of goods reflected increases in industrial supplies and materials ($11.8 billion); capital goods ($3.9 billion); automotive vehicles, parts, and engines ($1.8 billion); consumer goods ($1.5 billion); and foods, feeds, and beverages ($0.9 billion). A decrease occurred in other goods ($0.2 billion). The September 2010 to September 2011 increase in imports of goods reflected increases in industrial supplies and materials ($14.4 billion); automotive vehicles, parts, and engines ($2.8 billion); capital goods ($2.7 billion); foods, feeds, and beverages ($1.3 billion); consumer goods ($0.8 billion); and other goods ($0.2 billion). Services Exports of services decreased $0.1 billion from August to September. Decreases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) and passenger fares were partly offset by an increase in other transportation (which includes freight and port services). Changes in the other categories of services exports were small. Imports of services increased $0.1 billion from August to September. Increases in travel and passenger fares were partly offset by a decrease in other private services. Changes in the other categories of services imports were small. The September 2010 to September 2011 increase in exports of services was $4.2 billion. The largest increases were in other private services ($1.6 billion), travel ($0.9 billion), and royalties and license fees ($0.9 billion). Within other private services, the largest increase was in business, professional, and technical services. The September 2010 to September 2011 increase in imports of services was $0.9 billion. The largest increases were in passenger fares ($0.3 billion), royalties and license fees ($0.3 billion), and travel ($0.3 billion). Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $178.6 billion, while imports of goods and services averaged $223.2 billion, resulting in an average trade deficit of $44.6 billion. For the three months ending in August, the average trade deficit was $47.4 billion, reflecting average exports of $175.8 billion and average imports of $223.2 billion. Selected Not Seasonally Adjusted Goods Details The September figures show surpluses, in billions of dollars, with Hong Kong $4.3 ($2.4 for August), Australia $1.4 ($1.4), Singapore $1.3 ($1.0), and Egypt $0.1 ($0.4). Deficits were recorded, in billions of dollars, with China $28.1 ($29.0), OPEC $10.4 ($13.3), European Union $6.4 ($9.0), Japan $5.2 ($6.7), Mexico $5.0 ($5.5), Germany $4.3 ($4.5), Canada $3.5 ($2.4), Ireland $2.3 ($2.9),Venezuela $2.0 ($3.0), Nigeria $1.9 ($3.0), Korea $1.5 ($0.7), and Taiwan $1.5 ($1.6). Advanced technology products exports were $24.2 billion in September and imports were $32.5 billion, resulting in a deficit of $8.3 billion. September exports were $0.4 billion more than the $23.9 billion in August, while September imports were $0.4 billion less than the $33.0 billion in August. Revisions Census Basis (not seasonally adjusted) For August, exports of goods were virtually unrevised and imports of goods were revised down $0.5 billion. Goods carry- over in September was $0.1 billion (0.1 percent) for exports and $1.2 billion (0.6 percent) for imports. For August, revised export carry-over was $0.2 billion (0.1 percent). For August, revised import carry-over was virtually zero. Balance of Payments Basis (seasonally adjusted) For August, exports of goods were virtually unrevised and imports of goods were revised down $0.5 billion. For August, exports of services were revised up $0.3 billion, mostly reflecting an upward revision in travel. For August, imports of services were revised up $0.1 billion, reflecting upward 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 A-1