U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: AUGUST 1995 IMPORTANT: This release contains sensitive economic data not to be released before 8:30 a.m. Wednesday, October 18, 1995. CB-95-191Press Copy FT-900 (95-08) For information on goods contact: Bureau of the Census: Haydn R. Mearkle (301) 457-2246 Richard M. Preuss (301) 457-2311 For information on services contact: Bureau of Economic Analysis: Media: Larry Moran (202) 606-2649 Technical: Christopher Bach (202) 606-9545 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES August 1995 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total August exports of $65.7 billion and imports of $74.6 billion resulted in a goods and services deficit of $8.8 billion, $2.4 billion less than the $11.2 billion of July, revised. August exports were $2.3 billion more than July exports of $63.4 billion. August imports of $74.6 billion were virtually the same as in July. In August, the goods deficit decreased to $13.8 billion from $16.2 billion in July, and the services surplus was unchanged at $5.0 billion. Exports of goods increased to $48.7 billion from $46.4 billion, and imports of goods decreased to $62.5 billion from $62.6 billion. Exports of services of $17.0 billion and imports of services of $12.0 billion were virtually the same as in July. The July to August change in exports of goods reflected increases in capital goods of $0.9 billion (primarily civilian aircraft, computer accessories, and semiconductors); automotive vehicles, parts and engines ($0.8 billion); foods, feeds, & beverages ($0.3 billion); industrial supplies and materials ($0.3 billion); and consumer goods ($0.3 billion). Other goods decreased $0.2 billion. The July to August change in imports of goods reflected decreases in industrial supplies and materials of $0.4 billion (primarily chemical products and crude petroleum) and other goods ($0.1 billion). Automotive vehicles, parts, and engines increased $0.4 billion. Consumer goods; foods, feeds, and beverages; and capital goods were virtually unchanged. Note: Total goods are reported on a balance of payments basis; commodity and country detail for goods are on a Census basis. Definitions are explained in the notes (explain.prn) starting on page 25 of this release. For the three months ending in August, exports of goods and services, using a centered three month moving average, were $64.6 billion, while imports of goods and services averaged $75.0 billion, resulting in an average trade deficit of $10.4 billion. For the three months ending in July, the average trade deficit was $11.1 billion, reflecting average exports of $64.5 billion and average imports of $75.6 billion. Services exports and imports in August were both unchanged from July, as in each case there were small offsetting changes across categories. Selected Not Seasonally Adjusted Goods Details Advanced technology products (ATP) exports were $11.7 billion for August and imports were $11.0 billion, resulting in a surplus of $0.7 billion, $0.4 billion more than the July surplus of $0.3 billion. August exports were $1.1 billion more than the $10.6 billion of July, while imports were $0.7 billion more than the $10.4 billion of July. The August figures showed surpluses in billions of dollars with Australia $0.6 (for July $0.6), Egypt $0.2 ($0.2), Argentina $0.2 ($0.1), Hong Kong $0.1 ($0.3), and Brazil $0.1 ($0.1). Deficits were recorded in billions of dollars with Japan -$5.1 (-$5.1), China -$3.9 (-$3.3), Canada -$1.6 (-$1.2), OPEC -$1.5 (-$1.6), Mexico -$1.1 (-$1.3), Taiwan -$1.0 (-$1.0), Western Europe -$0.8 (-$3.1), Singapore -$0.3 (-$0.3), and Korea -$0.2 (virtually zero). Carry-over in August was $0.1 billion (0.2 percent) for exports and $0.3 billion (0.5 percent) for imports. For July, revised export carry-over was virtually zero, revised down from $0.1 billion (0.2 percent). For July, revised import carryover was $0.1 billion (0.2 percent), revised down from $0.4 billion (0.6 percent). ** TABLE OF CONTENTS ** Seasonally Adjusted Exhibit 1 International Trade in Goods and Services 4 Exhibit 2 Goods and Services Three - Month Moving Averages 5 Exhibit 3 U.S. Services by Major Category--Exports 6 Exhibit 4 U.S. Services by Major Category--Imports 7 Exhibit 5 U.S. Trade in Goods 8 Exhibit 6 Exports and Imports of Goods by Principal End-Use Category 9 Exhibit 7 Exports of Goods by End-Use Category and Commodity 10 Exhibit 8 Imports of Goods by End-Use Category and Commodity 12 Exhibit 9 Petroleum and Non-Petroleum End-Use Category Totals 14 Exhibit 10 Exports and Imports of Goods by Principle End-Use Category (Constant Dollars) 15 Exhibit 11 Exports, Imports, and Balance of Goods, Petroleum and Non- Petroleum End-Use Commodity Category Totals (Constant Dollars) 16 Not Seasonally Adjusted Exhibit 12 U.S. Trade in Goods 17 Exhibit 13 Exports and Imports of Goods by Principal End-Use Category 18 Exhibit 14 Exports, Imports, and Balance of Goods by Selected Countries and Areas - 1995 19 Exhibit 15 Exports and Imports of Goods by Principal SITC Commodity Groupings 21 Exhibit 16 Exports, Imports, and Balance of Advanced Technology Products 23 Exhibit 17 Imports of Energy - Related Petroleum Products, Including Crude Petroleum 24 Information on Goods and Services 25 FT900 1995 Release Schedule 28 SOURCE: Report FT900 (CB-95-191), Bureau of the Census, Foreign Trade Division, AUGUST 1995. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.