This release contains sensitive economic data not to be released before 8:30 a.m. Wednesday, November 18, 1998 CB-98-212 Press Copy FT-900 (98-09) 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 1998 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total September exports of $77.1 billion and imports of $91.2 billion resulted in a goods and services deficit of $14.0 billion, $1.9 billion less than the $15.9 billion in August, revised. September exports were $1.7 billion more than August exports of $75.4 billion. September imports were $0.2 billion less than August imports of $91.3 billion. In September, the goods deficit decreased $2.1 billion from August to $20.6 billion, and the services surplus decreased $0.3 billion to $6.6 billion. Exports of goods increased to $55.9 billion from $53.9 billion, and imports of goods decreased to $76.5 billion from $76.6 billion. Exports of services decreased to $21.3 billion from $21.6 billion and imports of services were virtually unchanged at $14.7 billion. Goods The August to September change in exports of goods reflected increases in capital goods of $2.3 billion (primarily civilian aircraft) and automotive vehicles, parts, and engines ($0.4 billion). Decreases occurred in other goods ($0.6 billion); foods, feeds, and beverages ($0.3 billion); and industrial supplies and materials ($0.1 billion). Consumer goods were virtually unchanged. The August to September change in imports of goods reflected an increase in automotive vehicles, parts, and engines of $0.7 billion (primarily automobiles). Decreases occurred in industrial supplies and materials ($0.5 billion); other goods ($0.1 billion); and capital goods ($0.1 billion). Foods, feeds, and beverages and consumer 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. Services Services exports decreased $0.3 billion from August to September, reflecting a decrease in travel. Changes to the other categories of services exports were small and nearly offsetting. Services imports in September were virtually the same as in August. Small decreases in several categories of services imports were nearly offset by small increases in others. Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $75.9 billion, while imports of goods and services averaged $90.7 billion, resulting in an average trade deficit of $14.8 billion. For the three months ending in August, the average trade deficit was $14.7 billion, reflecting average exports of $75.6 billion and average imports of $90.3 billion. Selected Not Seasonally Adjusted Goods Details The September figures showed surpluses, in billions of dollars, with Australia $0.5 (for August $0.6), Brazil $0.4 ($0.4), Argentina $0.3 ($0.3), Egypt $0.2 ($0.2), and Hong Kong $0.1 (-$0.1). Deficits were recorded, in billions of dollars, with China -$5.9 (-$5.9), Japan -$5.1 (-$5.2), Canada -$2.3 (-$1.7), Western Europe -$1.8 (-$2.2), Taiwan -$1.6 (-$1.6), Mexico -$1.4 (-$1.8), OPEC -$0.9 (-$1.3), Korea -$0.8 (-$0.8), and Singapore -$0.3 (-$0.2). Advanced technology products (ATP) exports were $15.9 billion in September and imports were $14.0 billion, resulting in a surplus of $2.0 billion. September exports were $1.9 billion more than the $14.0 billion in August, while imports were $1.0 billion more than the $13.0 billion in August. Revisions Goods carry-over in September was $0.7 billion (1.3 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 $0.6 billion (1.1 percent). For August, revised import carry-over was $0.1 billion (0.1 percent), revised down from $1.0 billion (1.3 percent). Services exports for August were revised up $0.4 billion to $21.6 billion. The revision was primarily attributable to travel exports and passenger fare exports, which now include updated source data on foreign visitors to the United States. 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 . . . . . . . . . . . . . . . ...........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-98-212), Bureau of the Census, Foreign Trade Division, September 1998. For more information, contact Haydn R. Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), Foreign Trade Division.