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U.S. International Trade in Goods and Services - Annual Revision for 2011

Release date: June 8, 2012

Contents:


Notices

In this news release and in the accompanying “U.S. International Trade in Goods and Services: April 2012,” release, the U.S. Census Bureau (Census) and the U.S. Bureau of Economic Analysis (BEA) are publishing revised statistics on both U.S. trade in goods and U.S. trade in services for January 2009 to March 2012.  The revised statistics will also appear in “U.S International Transactions: First Quarter 2012” and in the annual revision of the “U.S. international transactions accounts, both to be released by BEA on June 14, 2012.

This 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 down 0.6 percent for 2009, was revised down 1.1 percent for 2010, and was virtually unrevised for 2011.  The goods deficit was revised down for 2009 and 2010 and up for 2011; the services surplus was revised up for all three years.  These revisions reflect newly available and revised source data and minor improvements to estimation methodologies.

Goods:

Goods on a Census basis for 2011 were revised to 1) redistribute monthly data that arrived too late for inclusion in the month of transaction and were initially included in the month in which the data were received and 2) apply corrections to previously published 2011 statistics.  In addition, statistics for 2009-2011 were revised as a result of the reclassification of several commodities to end-use categories; these reclassifications were introduced in March 2012 beginning with the January 2012 statistics.  Seasonal and trading-day adjustments were then recalculated, and the seasonally adjusted current-dollar series were revised for January 2009 to March 2012.

Census has revised the real chained-dollar series to 1) update selected seasonally adjusted export and import prices back to 2002 and 2) incorporate improved quality-adjusted price indexes for capital goods (telecommunications equipment) back to 2002.  The historical chained-dollar series were revised back to 1994 because the reference year (2005) was revised.  These changes improve consistency between the Census chained-dollar data and the chained-dollar data published by BEA in the National Income and Product Accounts.  For related changes implemented by BEA, see “Annual Revision of the National Income and Product Accounts” in the August 2011 Survey of Current Business.

Balance of payments (BOP) adjustments – adjustments that BEA applies to goods on a Census basis to convert them to a BOP basis – for January 2009 to March 2012 were revised to introduce new adjustments to revalue exports and imports of recorded smart cards from media value to market value and to incorporate revised source data on other adjustments.  These adjustments are combined and presented as “Net Adjustments” in this release. 

Services:

Services exports and imports for January 2009 to March 2012 were revised mostly as a result of newly available and revised source data, primarily from BEA’s surveys of international services transactions.


Current Issue

Exhbit Number Title Format
FT900 U.S. International Trade in Goods and Services - Annual Revision for 2011
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 (2006-2008)
Exhibit 19 U.S. Services by Major Category - Exports (2006-2008)
Exhibit 20 U.S. Services by Major Category - Imports (2006-2008)

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October 2014
Trade Numbers

Deficit: $43.4 Billion
Exports: $197.5 Billion
Imports: $241.0 Billion

Next release: January 7, 2015
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Source: U.S. Census Bureau | Foreign Trade | ftdwebmaster@census.gov |  Last Revised: June 29, 2012