U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: SEPTEMBER 1996 This release contains sensitive economic data not to be released before 8:30 a.m. Wednesday, November 20, 1996 CB-96-193 Press Copy FT-900 (96-09) 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 September 1996 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total September exports of $68.8 billion and imports of $80.1 billion resulted in a goods and services deficit of $11.3 billion, $1.0 billion more than the $10.3 billion in August, revised. September exports were $1.0 billion less than August exports of $69.8 billion. September imports were virtually unchanged from August. In September, the goods deficit increased $1.3 billion from August to $17.7 billion, and the services surplus increased $0.2 billion from August to $6.3 billion. Exports of goods decreased to $50.1 billion from $51.1 billion, and imports of goods increased to $67.7 billion from $67.5 billion. Exports of services of $18.7 billion were virtually unchanged, and imports of services decreased to $12.4 billion from $12.6 billion. The August to September change in exports of goods reflected decreases in capital goods of $1.0 billion (primarily civilian aircraft and industrial machinery); foods, feeds, and beverages ($0.3 billion); other goods ($0.2 billion); and industrial supplies and materials ($0.1 billion). Automotive vehicles, parts, and engines increased ($0.5 billion) and consumer goods increased ($0.1 billion). The August to September change in imports of goods reflected increases in industrial supplies and materials of $0.5 billion (primarily crude petroleum and petroleum products); consumer goods ($0.4 billion); other goods ($0.1 billion); and capital goods ($0.1 billion). Automotive vehicles, parts, and engines decreased ($0.4 billion) and foods, feeds, and beverages decreased ($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 September, exports of goods and services, using a centered three-month moving average, were $68.6 billion, while imports of goods and services averaged $79.7 billion, resulting in an average trade deficit of $11.1 billion. For the three months ending in August, the average trade deficit was $10.0 billion, reflecting average exports of $68.9 billion and average imports of $79.0 billion. Services exports in September were virtually the same as in August, as changes to all categories of services exports were small and offsetting. Services imports decreased $0.2 billion from August to September. Royalties and license fees decreased $0.1 billion, following a step-up in July and August that resulted from payments for broadcast rights for the 1996 Summer Olympic Games. Changes to the other categories of services imports were small, resulting in a decrease of $0.1 billion. Selected Not Seasonally Adjusted Goods Details Advanced technology products (ATP) exports were $12.3 billion in September and imports were $11.3 billion, resulting in a surplus of $1.0 billion, $1.2 billion less than the August surplus of $2.2 billion. September exports were $0.4 billion less than the $12.8 billion in August, while imports were $0.8 billion more than the $10.5 billion in August. The September figures showed surpluses, in billions of dollars, with Australia $0.7 (for August $0.7), Brazil $0.5 ($0.4), Korea $0.3 ($0.6), Egypt $0.2 ($0.3), Hong Kong $0.2 ($0.3), and Argentina $0.1 ($0.2). Deficits were recorded, in billions of dollars, with China -$4.7 (-$4.7), Japan -$3.8 (-$3.8), OPEC -$2.2 (-$1.7), Canada -$2.0 ( -$2.4), Mexico -$1.7 ( -$1.5), Taiwan -$1.3 (-$1.2), Western Europe -$1.0 (-$1.6), and Singapore -$0.6 (-$0.4). Carry-over in September was $0.6 billion (1.2 percent) for exports and $0.2 billion (0.3 percent) for imports. For August, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.4 billion (0.8 percent). For August, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.4 billion (0.6 percent). Beginning with today's release, the U.S. International Trade in Goods and Services (FT900) will no longer be available on CENDATA, FASTFAX or the Census/BEA Forum. The FT900 report for the current month and previous years are available at: http:\\www.census.gov\foreign-trade\www\ on the Internet. 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 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-96-193), Bureau of the Census, Foreign Trade Division, SEPTEMBER 1996. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.