U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: JULY 1995 IMPORTANT: This release contains sensitive economic data not to be released before 8:30 a.m. Wednesday, September 20, 1995. CB-95-169Press Copy FT-900 (95-07) 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 JULY 1995 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total July exports of $63.1 billion and imports of $74.6 billion resulted in a goods and services deficit of $11.5 billion, $0.2 billion more than the $11.3 billion of June, revised. July exports were $1.5 billion less than June exports of $64.6 billion. July imports were $1.3 billion less than June imports of $75.9 billion. In July, the goods deficit increased to $16.6 billion from $16.5 billion in June, and the services surplus decreased to $5.1 billion from $5.2 billion in June. Exports of goods decreased to $46.1 billion from $47.4 billion, and imports of goods decreased to $62.6 billion from $63.9 billion. Exports of services decreased to $17.0 billion from $17.2 billion, and imports of services decreased to $11.9 billion from $12.0 billion. The June to July change in exports of goods reflected decreases in industrial supplies and materials of $0.8 billion (primarily nonmonetary gold and chemical products); capital goods ($0.5 billion); consumer goods ($0.2 billion); automotive vehicles, parts, and engines ($0.1 billion); and other goods ($0.1 billion). Foods, feeds, and beverages increased ($0.3 billion). The June to July change in imports of goods reflected decreases in automotive vehicles, parts, and engines ($0.4 billion) and industrial supplies ($0.3 billion). Capital goods increased ($0.1 billion) and consumer goods increased ($0.1 billion). Other goods and foods, feeds, and beverages 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 starting on page 25 of this release. For the three months ending in July, exports of goods and services, using a centered three month moving average, were $64.4 billion, while imports of goods and services averaged $75.6 billion, resulting in an average trade deficit of $11.2 billion. For the three months ending in June, the average trade deficit was $11.0 billion, reflecting average exports of $64.9 billion and average imports of $75.9 billion. Services exports and imports in July were both little changed from June, as in each case there were small offsetting changes across categories. Selected Not Seasonally Adjusted Goods Details Advanced technology products (ATP) exports were $10.6 billion for July and imports were $10.4 billion, resulting in a surplus of $0.3 billion, $1.1 billion less than the June surplus of $1.4 billion. July exports were $1.4 billion less than the $12.0 billion of June, while imports were $0.3 billion less than the $10.6 billion of June. The July figures showed surpluses in billions of dollars with Australia $0.6 (for June $0.7), Hong Kong $0.3 ($0.4), Egypt $0.2 ($0.2), Brazil $0.1 ($0.2), and Argentina $0.1 (0.2). Deficits were recorded in billions of dollars with Japan -$5.1 (-$5.3), China -$3.3 (-$3.0), Western Europe -$3.1 (-$1.6), OPEC -$1.6 (-$1.3), Canada -$1.5 (-$1.7), Mexico -$1.3 (-$1.5), Taiwan -$1.0 (-$0.5), and Singapore -$0.3 (-$0.3). The balance with Korea was virtually zero ($0.2). Carry-over in July was $0.1 billion (0.2 percent) for exports and $0.4 billion (0.6 percent) for imports. For June, revised export carry-over was virtually zero, revised down from $0.2 billion (0.4 percent). For June, revised import carryover was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent). *** NOTICE *** *** NOTICE *** *** NOTICE *** *** NOTICE *** Exports to Mexico of Commodities for Automobile Assembly The Bureau of the Census recently identified certain exports of commodities for use in automobile assembly operations in Mexico that were omitted from previously published figures. The shipments involve a wide variety of products such as automobile parts, tires, electronic equipment, and fabrics. The U.S. Customs Service did not receive export documentation for these shipments for the period of January through June 1995. The Bureau has revised the detailed 1995 monthly and year-to-date export figures in this release to reflect the omission. The table below summarizes the omitted data. Please contact the Foreign Trade Division, Bureau of the Census, Washington, D.C. 20233, or call (301) 457-2311 if you would like to receive the omitted detailed data. Commodities for Automobile Assembly -- Not seasonally adjusted data (Value in millions of dollars) Statistical Month FAS Value January 140.9 February 147.7 March 149.4 April 152.9 May 165.1 June 154.9 Total 910.9 TABLE OF CONTENTS Seasonally Adjusted Exhibit 1 International Trade in Goods and Services 6 Exhibit 2 Goods and Services Three - Month Moving Averages 7 Exhibit 3 U.S. Services by Major Category--Exports 8 Exhibit 4 U.S. Services by Major Category--Imports 9 Exhibit 5 U.S. Trade in Goods 10 Exhibit 6 Exports and Imports of Goods by Principal End-Use Category 11 Exhibit 7 Exports of Goods by End-Use Category and Commodity 12 Exhibit 8 Imports of Goods by End-Use Category and Commodity 14 Exhibit 9 Petroleum and Non-Petroleum End-Use Category Totals 16 Exhibit 10 Exports and Imports of Goods by Principle End-Use Category (Constant Dollars) 17 Exhibit 11 Exports, Imports, and Balance of Goods, Petroleum and Non- Petroleum End-Use Commodity Category Totals (Constant Dollars) 18 Not Seasonally Adjusted Exhibit 12 U.S. Trade in Goods 19 Exhibit 13 Exports and Imports of Goods by Principal End-Use Category 20 Exhibit 14 Exports, Imports, and Balance of Goods by Selected Countries and Areas - 1995 21 Exhibit 15 Exports and Imports of Goods by Principal SITC Commodity Groupings 23 Exhibit 16 Exports, Imports, and Balance of Advanced Technology Products 25 Exhibit 17 Imports of Energy - Related Petroleum Products, Including Crude Petroleum 26 Information on Goods and Services 27 FT900 1995 Release Schedule 30 SOURCE: Report FT900 (CB-95-169), Bureau of the Census, Foreign Trade Division, JULY 1995. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.