U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: NOVEMBER 1996 This release contains sensitive economic data not to be released before 8:30 a.m. Friday, January 17, 1997 CB-97-10 Press Copy FT-900 (96-11) 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 November 1996 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total November exports of $72.0 billion and imports of $80.4 billion resulted in a goods and services deficit of $8.4 billion, $0.4 billion more than the $8.0 billion in October, revised. November exports were $0.3 billion more than October exports of $71.7 billion. November imports were $0.6 billion more than October imports of $79.7 billion. In November, the goods deficit increased $0.7 billion from October to $14.7 billion, and the services surplus increased $0.3 billion from October to $6.3 billion. Exports of goods decreased to $52.7 billion from $52.9 billion, and imports of goods increased to $67.5 billion from $67.0 billion. Exports of services increased to $19.2 billion from $18.8 billion, and imports of services increased to $12.9 billion from $12.8 billion. The October to November change in exports of goods reflected increases in foods, feeds, and beverages of $0.5 billion (primarily soybeans and corn); automotive vehicles, parts, and engines ($0.3 billion); and other goods ($0.2 billion). Decreases occurred reflected in industrial supplies and materials ($0.5 billion); capital goods ($0.3 billion); and consumer goods ($0.1 billion). The October to November change in imports of goods reflected increases in automotive vehicles, parts, and engines of $1.0 billion (primarily Canadian cars and trucks); capital goods ($0.4 billion); and other goods ($0.1 billion). Decreases occurred in industrial supplies and materials ($0.8 billion); consumer goods ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). 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 November, exports of goods and services, using a centered three-month moving average, were $70.8 billion, while imports of goods and services averaged $80.1 billion, resulting in an average trade deficit of $9.3 billion. For the three months ending in October, the average trade deficit was $10.0 billion, reflecting average exports of $70.1 billion and average imports of $80.1 billion. Services exports increased $0.4 billion from October to November. Travel increased $0.3 billion, and small increases in the other categories of services exports added another $0.1 billion. Services imports increased $0.1 billion from October to November. An increase in travel of $0.2 billion was offset by a decrease in other transportation of $0.2 billion. The other categories of services imports increased $0.1 billion, collectively. Selected Not Seasonally Adjusted Goods Details Advanced technology products (ATP) exports were $13.6 billion in November and imports were $10.8 billion, resulting in a surplus of $2.9 billion, $0.5 billion more than the October surplus of $2.4 billion. November exports were $0.3 billion less than the $13.9 billion in October, while imports were $0.8 billion less than the $11.6 billion in October. The November figures showed surpluses, in billions of dollars, with Australia $0.6 (for October $0.7), Brazil $0.5 ($0.5), Korea $0.4 ($0.3), Hong Kong $0.3 ($0.4), Argentina $0.3 ($0.2), and Egypt $0.2 ($0.2). Deficits were recorded, in billions of dollars, with Japan -$4.3 (-$5.0), China -$3.0 (-$4.9), Canada -$1.9 (-$1.4), Mexico -$1.5 ( -$1.1), OPEC -$1.5 (-$2.0), Western Europe -$1.4 (-$1.8), Taiwan -$0.9 (-$1.3), and Singapore -$0.2 (-$0.4). Carry-over in November was $0.6 billion (1.1 percent) for exports and $0.3 billion (0.4 percent) for imports. For October, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.7 billion (1.2 percent). For October, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.3 billion (0.4 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 Principal 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-97-10), Bureau of the Census, Foreign Trade Division, NOVEMBER 1996. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.