IMPORTANT: This release contains sensitive economic data not to be released before 8:30 a.m. Tuesday, April 23, 1996. CB-96-63Press Copy FT-900 (96-02) 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 February 1996 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total February exports of $68.1 billion and imports of $76.3 billion resulted in a goods and services deficit of $8.2 billion, $1.7 billion less than the $9.9 billion of January, revised. February exports were $1.3 billion more than January exports of $66.8 billion. February imports were $0.4 billion less than January imports of $76.7 billion. In February, the goods deficit decreased $1.3 billion from January to $13.8 billion and the services surplus increased $0.4 billion from January to $5.6 billion. Exports of goods increased to $49.7 billion from $49.0 billion, and imports of goods decreased to $63.5 billion from $64.1 billion. Exports of services increased to $18.4 billion from $17.8 billion, and imports of services increased to $12.8 billion from $12.6 billion. The January to February change in exports of goods reflected increases in capital goods of $0.7 billion (primarily commercial aircraft); consumer goods ($0.3 billion); other goods ($0.2 billion); and industrial supplies and materials ($0.1 billion). Foods, feeds, and beverages decreased $0.3 billion and automotive vehicles, parts, and engines decreased $0.1 billion. The January to February change in imports of goods reflected decreases in industrial supplies and materials of $0.9 billion (primarily crude petroleum and fuel oil) and capital goods of $0.1 billion. Consumer goods increased $0.3 billion and other goods increased $0.1 billion. Automotive vehicles, parts, and engines 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 28 of this release. For the three months ending in February, exports of goods and services, using a centered three-month moving average, were $67.7 billion, while imports of goods and services averaged $76.0 billion, resulting in an average trade deficit of $8.3 billion. For the three months ending in January, the average trade deficit was $7.9 billion, reflecting average exports of $67.4 billion and average imports of $75.3 billion. Services exports increased $0.6 billion from January to $18.4 billion in February, reflecting increases in travel, other private services, other transportation, and passenger fares. Other categories of services exports changed little. Services imports increased $0.2 billion from January to $12.8 billion in February. Increases in travel and other private services were partially offset by a decrease in other transportation. Other categories of services imports changed little. Selected Not Seasonally Adjusted Goods Details Advanced technology products (ATP) exports were $12.1 billion for February and imports were $10.1 billion, resulting in a surplus of $2.0 billion, $1.4 billion more than the January surplus of $0.6 billion. February exports were $0.8 billion more than the $11.3 billion of January, while imports were $0.6 billion less than the $10.7 billion of January. The February figures showed surpluses in billions of dollars with Australia $0.6 (for January $0.7), Egypt $0.2 ($0.1), Brazil $0.2 ($0.1), Argentina $0.2 ($0.1), and Hong Kong $0.2 ($0.1). Deficits were recorded in billions of dollars with Japan -$3.9 (-$3.8), China -$2.4 (-$2.7), Canada -$1.4 (-$1.9), Mexico -$1.3 (-$1.3), OPEC -$1.2 (-$1.7), Taiwan -$1.0 (-$0.9), Western Europe -$0.5 (-$0.9), and Singapore -$0.1 (-$0.4). Carry-over in February was $0.1 billion (0.2 percent) for exports and $0.1 billion (0.2 percent) for imports. For January, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.2 billion (0.4 percent). For January, revised import carry-over was $0.1 billion (0.2 percent), revised down from $0.4 billion (0.6 percent). 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 - 1996 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 Exhibit 18 Exports and Imports of Motor Vehicles and Parts By Selected Countries 25 Information on Goods and Services 26 SOURCE: Report FT900 (CB-96-63), Bureau of the Census, Foreign Trade Division, FEBRUARY 1996. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.