U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: OCTOBER 1995 IMPORTANT: This release contains sensitive economic data not to be released before 8:30 a.m. Wednesday, January 17, 1996. CB-95-228 Press Copy FT-900 (95-10) 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 October 1995 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total October exports of $66.7 billion and imports of $74.8 billion resulted in a goods and services deficit of $8.0 billion, $0.2 billion less than the $8.2 billion of September revised. October exports were $0.7 billion less than September exports of $67.5 billion. October imports were $0.9 billion less than September imports of $75.7 billion. In October, the goods deficit decreased $0.1 billion from September to $13.7 billion and the services surplus increased to $5.6 billion from $5.5 billion in September. Exports of goods decreased to $49.0 billion from $49.8 billion, and imports of goods decreased to $62.7 billion from $63.5 billion. Exports of servioces of $17.7 billion and imports of services of $12.1 billion were virtually the sames as in September. The September to October change in exports of goods reflected decreases in automotive vehicles, parts, and engines of $0.8 billion (primarily new and used automobiles); foods, feeds, and beverages ($0.4 billion); other goods ($0.1 billion). Increases were reflected in capital goods ($0.6 billion) and industrial supplies and materials ($0.2 billion). Consumer goods were virtually unchanged. The September to October change in imports of goods reflected decreases in automotive vehicles, parts, and engines of $0.9 billion (primarily new and used automobiles); industrial supplies and materials ($0.5 billion); and consumer goods ($0.1 billion). Increases were reflected in capital goods ($0.3 billion); and other goods ($0.2 billion). 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 or in file explain.900. For the three months ending in October, exports of goods and services, using a centered three-month moving average, were $66.9 billion, while imports of goods and services averaged $75.1 billion, resulting in an average trade deficit of $8.2 billion. For the three months ending in September, the average trade deficit was $9.2 billion, reflecting average exports of $65.8 billion and average imports of $75.0 billion. Services exports increased slightly and services imports decreased slightly from September to October. For exports, other transportation increased, while small changes in other categories were largely offsetting. For imports, a decrease in other private services was largely offset by an increase in other transportation. Other categories of services imports changed little. Selected Not Seasonally Adjusted Goods Details Advanced technology products (ATP) exports were $12.0 billion for October and imports were $12.2 billion, resulting in a deficit of $0.2 billion, $0.1 billion more than the virtually zero balance in September. October exports were $0.5 billion more than the $11.6 billion of September, while imports were $0.6 billion more than the $11.6 billion of September. The October figures showed surpluses in billions of dollars with Australia $0.7 (for September $0.7), Egypt $0.3 ($0.2), Argentina $0.2 ($0.3), Brazil $0.1 ($0.2), and Hong Kong $0.1 ($0.2). Deficits were recorded in billions of dollars with Japan -$4.8 (-$4.3), China -$3.6 (-$3.6), Canada -$1.9 (-$1.8), Mexico -$1.4 (-$1.3), Taiwan -$1.4 (-$0.9), OPEC -$1.3 (-$1.4), Western Europe -$1.1 (-$0.1), Singapore -$0.3 (-$0.5), and Korea -$0.3 (-$0.1). Carry-over in October was $0.1 billion (0.2 percent) for exports and $0.3 billion (0.4 percent) for imports. For September, revised export carry-over was virtually zero, revised down from $0.3 billion (0.6 percent). For September, revised import carry-over was $0.1 billion ($0.2 percent), revised down from $0.4 billion (0.6 percent). 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-95-228), Bureau of the Census, Foreign Trade Division, OCTOBER 1995. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.