U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: JULY 1996 This release contains sensitive economic data not to be released before 8:30 a.m. Wednesday, September 18, 1996 CB-96-154 Press Copy FT-900 (96-07) 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: Technical: Christopher Bach (202) 606-9545 Media: Larry Moran (202) 606-2649 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES July 1996 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total July exports of $67.2 billion and imports of $78.9 billion resulted in a goods and services deficit of $11.7 billion, $3.5 billion more than the $8.2 billion in June, revised. July exports were $2.5 billion less than June exports of $69.7 billion. July imports were $1.0 billion more than June imports of $77.9 billion. In July, the goods deficit increased $2.9 billion from June to $17.5 billion, and the services surplus decreased $0.6 billion from June to $5.8 billion. Exports of goods decreased to $48.6 billion from $51.0 billion, and imports of goods increased to $66.1 billion from $65.6 billion. Exports of services decreased to $18.6 billion from $18.8 billion, and imports of services increased to $12.7 billion from $12.3 billion. The June to July change in exports of goods reflected decreases in industrial supplies & materials of $0.8 billion (primarily nonmonetary gold, plastic materials, and nuclear fuel materials); capital goods $0.7 billion (primarily civilian aircraft); consumer goods ($0.4 billion); and automotive vehicles ($0.3 billion). Other goods increased $0.3 billion and foods, feeds, and beverages increased $0.1 billion. The June to July change in imports of goods reflected increases in industrial supplies and materials of $0.7 billion (primarily crude petroleum, lumber, and organic chemicals); automotive vehicles, parts, and engines ($0.3 billion); and consumer goods ($0.1 billion). Foods, feeds, and beverages, other goods, 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 starting on page 26 of this release. For the three months ending in July, exports of goods and services, using a centered three-month moving average, were $69.0 billion, while imports of goods and services averaged $79.1 billion, resulting in an average trade deficit of $10.1 billion. For the three months ending in June, the average trade deficit was $9.3 billion, reflecting average exports of $69.7 billion and average imports of $79.0 billion. Services exports decreased $0.2 from June to July. A decrease in travel was partially offset by an increase in other private services. Changes to the other categories of services exports were small, resulting in a decrease of $0.1 billion. Services imports increased $0.4 billion from June to July as increases in royalties and license fees and other transportation were partially offset by a decrease in travel. The sharp increase in royalties and license fees resulted from payments for the rights to broadcast the 1996 Summer Olympic Games. Changes to the other categories of services imports were small and offsetting. Selected Not Seasonally Adjusted Goods Details Advanced technology products (ATP) exports were $11.9 billion in July and imports were $10.6 billion, resulting in a surplus of $1.3 billion, $1.4 billion less than the June surplus of $2.6 billion. July exports were $1.3 billion less than the $13.2 billion in June, while imports were $0.1 billion more than the $10.5 billion in June. The July figures showed surpluses, in billions of dollars, with Australia $0.6 (for June $0.6), Brazil $0.3 ($0.4), Korea $0.2 ($0.6), Argentina $0.2 ($0.2), Egypt $0.2 ($0.2), and Hong Kong $0.1 ($0.5). Deficits were recorded in billions of dollars with Japan -$4.3 (-$3.2), Western Europe -$4.2 (-$0.8), China -$3.8 (-$3.3), Canada -$2.1 (-$2.6), OPEC -$1.8 (-$1.4), Mexico -$1.4 (-$1.5), Taiwan -$1.2 (-$1.0), and Singapore -$0.3 (virtually zero). Carry-over in July was $0.6 billion (1.3 percent) for exports and $0.3 billion (0.4 percent) for imports. For June, revised export carry-over was $0.2 billion (0.4 percent), revised down from $0.7 billion (1.4 percent). For June, revised import carry-over was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 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 - 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 (explain.txt) 26 SOURCE: Report FT900 (CB-96-154), Bureau of the Census, Foreign Trade Division, JULY 1996. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.