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U.S. International Trade in Goods and Services -
Annual Revision for 1998


*** NOTICE *** NOTICE *** NOTICE *** NOTICE ***

With this release, the Bureau of the Census and the Bureau of theEconomic Analysis are publishing revised U.S. goods and services trade statistics.


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Goods

The 1998 unadjusted Census basis goods data were revised to eliminate "carry over" (that portion of the monthly statistics that arrives too late for inclusion in the transaction month) and to include errata data (corrections to the published monthly data). The 1997 unadjusted Census basis goods data were also revised based on new source data for U.S. imports of automobiles from Canada. See Table 17a on page 58. Once these corrections were completed, factors for seasonal adjustment,working day adjustment, and constant dollars were recomputed, and the seasonally adjusted and constant dollar series were revised for 1996, 1997, and 1998.

Services

The services account has been redefined in order to bring it into alignment with the concepts used in the U.S. national income and product accounts and into closer conformance with international guidelines established by the International Monetary Fund. Compensation of foreign workers temporarily employed in the United States and of U.S. workers temporarily employed abroad, which until now has been included indistinguishably as a component of "Other private services", is removed from both services receipts and payments for all time periods shown in this release. (The amounts removed are reclassified to the income account of the international transactions accounts, which are released separately by the Bureau of Economic Analysis). As a result of this redefinition, service payments are reduced more than service receipts, thereby increasing the services surplus. Other revisions to the services account result from the use of newly developed data for travel payments for 1997-98, the incorporation of results from annual surveys, and newly available and updated source data.

CONTENTS:

Seasonally Adjusted

Not Seasonally Adjusted

 

1992 and 1995 Revisions

Compressed File

 


August 2014
Trade Numbers

Deficit: $40.1 Billion
Exports: $198.5 Billion
Imports: $238.6 Billion

Next release: November 4, 2014
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Source: U.S. Census Bureau | Foreign Trade | ftdwebmaster@census.gov |  Last Revised: July 12, 2011