U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES: SEPTEMBER 1997 This release contains sensitive economic data not to be released before 8:30 a.m. Thursday, November 20, 1997 CB-97-188 Press Copy FT-900 (97-09) 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 1997 The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total September exports of $78.0 billion and imports of $89.1 billion resulted in a goods and services deficit of $11.1 billion, $1.6 billion more than the $9.5 billion in August, revised. September exports were $0.6 billion less than August exports of $78.6 billion. September imports were $1.0 billion more than August imports of $88.0 billion. In September, the goods deficit increased $1.6 billion from August to $18.1 billion, and the services surplus was virtually unchanged at $7.1 billion. Exports of goods decreased to $56.5 billion from $57.3 billion, and imports of goods increased to $74.7 billion from $73.9 billion. Exports of services increased to $21.5 billion from $21.3 billion, and imports of services increased to $14.4 billion from $14.2 billion. The August to September change in exports of goods reflected decreases in automotive vehicles, parts, and engines of $0.3 billion (primarily passenger cars); other goods ($0.2 billion); industrial supplies and materials ($0.2 billion); and capital goods ($0.1 billion). An increase occurred in foods, feeds, and beverages of $0.1 billion. Consumer goods were virtually unchanged. The August to September change in imports of goods reflected increases in consumer goods of $0.6 billion (primarily apparel products, gem diamonds, and artwork) and industrial supplies and materials ($0.4 billion). Decreases occurred in capital goods of $0.2 billion and automotive vehicles, parts, and engines ($0.1 billion). Other goods 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 26 of this release. For the three months ending in September, exports of goods and services averaged $78.1 billion, while imports of goods and services averaged $88.3 billion, resulting in an average trade deficit of $10.2 billion. For the three months ending in August, the average trade deficit was $9.3 billion, reflecting average exports of $78.3 billion and average imports of $87.5 billion. Services exports increased $0.2 billion from August to September, mainly reflecting an increase in travel. Services imports increased $0.3 billion from August to September, reflecting small increases in several categories. Selected Not Seasonally Adjusted Goods Details The September figures showed surpluses, in billions of dollars, with Brazil $0.7 (for August $0.5), Australia $0.6 ($0.6), Argentina $0.3 ($0.3), Egypt $0.2 ($0.5), and Hong Kong $0.1 ($0.4). Deficits were recorded, in billions of dollars, with China -$5.5 (-$5.2), Japan -$5.1 (-$4.5), OPEC -$1.8 (-$2.0), Taiwan -$1.4 (-$1.1), Mexico -$1.3 (-$1.0), Canada -$1.3 (-$1.3), Western Europe -$1.1 (-$2.0), Korea -$0.4 (virtually zero), and Singapore -$0.4 (-$0.2). Advanced technology products (ATP) exports were $15.2 billion in September and imports were $13.8 billion, resulting in a surplus of $1.4 billion, $0.3 billion less than the August surplus of $1.7 billion. September exports were $0.9 billion more than the $14.3 billion in August, while imports were $1.2 billion more than the $12.6 billion in August. Carry-over in September was $0.8 billion (1.4 percent) for exports and $0.7 billion (0.9 percent) for imports. For August, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.7 billion (1.2 percent). For August, revised import carry-over was $0.2 billion (0.3 percent), revised down from $1.0 billion (1.4 percent). Seasonally Adjusted Exhibit 1 International Trade in Goods and Services 4 Exhibit 2 Goods and Services Centered 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-97-188), Bureau of the Census, Foreign Trade Division, SEPTEMBER 1997. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.