This release contains sensitive economic data not to be released before 8:30 a.m. Thursday, August 19, 1999 CB-99-155 Press Copy FT-900 (99-06) For information on goods contact: Bureau of the Census: Haydn R. Mearkle (301) 457-2246 Nick Orsini (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 June 1999 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total June exports of $78.4 billion and imports of $103.0 billion resulted in a goods and services deficit of $24.6 billion, $3.5 billion more than the $21.2 billion in May, revised. June exports were $0.4 billion more than May exports of $78.0 billion. June imports were $3.9 billion more than May imports of $99.1 billion. In June, the goods deficit increased $3.5 billion from May to $31.4 billion, and the services surplus increased $0.1 billion to $6.8 billion. Exports of goods increased to $55.3 billion from $55.1 billion, and imports of goods increased to $86.7 billion from $83.0 billion. Exports of services increased to $23.1 billion from $22.8 billion, and imports of services increased to $16.3 billion from $16.1 billion. Goods The May to June change in exports of goods reflected increases in automotive vehicles, parts, and engines of $0.4 billion (primarily passenger cars and parts); foods, feeds, and beverages ($0.1 billion); and industrial supplies and materials ($0.1 billion). Decreases occurred in other goods ($0.2 billion) and capital goods ($0.2 billion). Consumer goods were virtually unchanged. The May to June change in imports of goods reflected increases in capital goods of $1.2 billion (primarily telecommunications equipment, computer accessories, and computers); consumer goods ($0.9 billion); automotive vehicles, parts,and engines ($0.9 billion); industrial supplies and materials ($0.4 billion); foods, feeds, and beverages ($0.1 billion); and other goods ($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. Services Services exports increased $0.3 billion from May to June, reflecting small increases in all categories. Services imports increased $0.2 billion from May to June, reflecting small increases in all categories. Goods and Services Moving Average For the three months ending in June, exports of goods and services averaged $78.2 billion, while imports of goods and services averaged $99.6 billion, resulting in an average trade deficit of $21.5 billion. For the three months ending in May, the average trade deficit was $19.6 billion, reflecting average exports of $77.7 billion and average imports of $97.3 billion. Selected Not Seasonally Adjusted Goods Details The June figures showed surpluses, in billions of dollars, with Australia $0.5 (for May $0.5), Egypt $0.2 ($0.3), Argentina $0.2 ($0.2), Brazil $0.1 ($0.2), and Hong Kong $0.1 ($0.2). Deficits were recorded, in billions of dollars, with Japan -$6.3 (-$5.3), China -$5.7 (-$5.3), Western Europe -$4.9 (-$3.6), Canada -$2.8 (-$2.1), Mexico -$2.5 (-$2.2), OPEC -$2.0 (-$1.6), Taiwan -$1.5 (-$1.2), Korea -$0.7 (-$0.7), and Singapore -$0.2 (-$ 0.3). Advanced technology products (ATP) exports were $16.5 billion in June and imports were $15.8 billion, resulting in a surplus of $0.7 billion. June exports were $0.9 billion more than the $15.7 billion in May, while imports were $1.8 billion more than the $14.0 billion in May. Revisions Goods carry-over in June was $0.9 billion (1.6 percent) for exports and $1.0 billion (1.1 percent) for imports. For May, revised export carry-over was $0.2 billion (0.4 percent), revised down from $0.6 billion (1.1 percent). For May, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.9 billion (1.1 percent). Services exports for May were revised down $0.1 billion to $22.8 billion. The revision was attributable to small decreases in travel and passenger fares, reflecting updated source data. Services imports for May were unrevised at $16.1 billion. 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-99-155), Bureau of the Census, Foreign Trade Division, June 1999. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.