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U.S. International Trade in Goods and Services
February 2014 Highlights for Congress


U.S. Census Bureau and U.S. Bureau of Economic Analysis - Economics and Statistics Administration - U.S. Department of Commerce

Click here for the downloadable version of the Congressional Highlights (PDF)

Goods and Services Deficit Increased in February 2014
(Seasonally Adjusted)

The Nation’s international trade deficit in goods and services increased to $42.3 billion in February from $39.3 billion in January (revised), as exports decreased and imports increased.

GOODS AND SERVICES

  • Exports decreased to $190.4 billion in February from $192.5 billion in January (revised). Goods were $131.7 billion in February, down from $133.8 billion in January. Services were virtually unchanged from January to February at $58.7 billion.

  • Imports increased to $232.7 billion in February from $231.7 billion in January (revised). Goods were $193.4 billion in February, up from $193.3 billion in January. Services were $39.3 billion in February, up from $38.5 billion in January.

  • For goods, the deficit was $61.7 billion in February, up from $59.5 billion in January (revised). For services, the surplus was $19.4 billion in February, down from $20.2 billion in January (revised).

Trade in Goods and Services (Billions of Dollars)

Trade in Goods and Services (Billions of Dollars)

GOODS BY CATEGORY (CENSUS BASIS)

The January to February decrease in exports of goods reflected decreases in industrial supplies and materials ($2.7 billion) and capital goods ($0.9 billion). Increases occurred in consumer goods ($1.2 billion); other goods ($0.6 billion); and automotive vehicles, parts, and engines ($0.1 billion). Foods, feeds, and beverages were virtually unchanged.
Top Decreases for Exports of Industrial Supplies and Materials
(Billions of Dollars)Top Decreases for Industrial Supplies and Materials (Billions of Dollars)
The January to February decrease in imports of goods reflected decreases in capital goods ($1.2 billion); industrial supplies and materials ($0.3 billion); and foods, feeds, and beverages ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($1.0 billion); consumer goods ($0.1 billion); and other goods ($0.1 billion).
Top Decreases for Imports of Capital Goods
(Billions of Dollars)Top Decreases for Capital Goods(Billions of Dollars)

SERVICES BY CATEGORY

Exports of services were virtually unchanged from January to February. Increases in other private services ($0.1 billion), which includes items such as business, professional, and technical services, insurance services, and financial services, and in royalties and license fees ($0.1 billion) were mostly offset by a decrease in passenger fares ($0.2 billion). Changes in the other categories of services exports were relatively small.

Imports of services increased $0.8 billion from January to February. The increase was mainly accounted for by an increase in royalties and license fees ($0.8 billion), which included payments for the rights to broadcast the 2014 Winter Olympic Games. Other private services increased ($0.1 billion). Partly offsetting these increases was a decrease in other transportation ($0.1 billion), which includes freight and port services. Changes in the other categories of services imports were relatively small.


GOODS BY GEOGRAPHIC AREA
(Billions of Dollars, Not Seasonally Adjusted)

Canada

Canada

The goods deficit with Canada decreased from $4.0 billion in January to $1.9 billion in February. Exports increased $0.8 billion (primarily automobiles) to $23.5 billion, while imports decreased $1.3 billion (primarily crude oil) to $25.4 billion.

China

China

The goods deficit with China decreased from $27.8 billion in January to $20.9 billion in February. Exports decreased $0.5 billion (primarily soybeans and civilian aircraft, engines, equipment, and parts) to $9.9 billion, while imports decreased $7.5 billion (primarily computers; and cell phones and other household goods) to $30.7 billion.

Mexico

Mexico

The goods deficit with Mexico increased from $2.8 billion in January to $4.0 billion in February. Exports decreased $0.8 billion (primarily computer accessories and semiconductors) to $18.3 billion, while imports increased $0.4 billion (primarily automobiles) to $22.3 billion.


EXPORTS OF GOODS BY STATE
(Origin of Movement)

Top January to February Increases
(Millions of Dollars, Not Seasonally Adjusted)
State January Total February Total Change
California $12,869.6 $13,756.7 $887.1
Michigan 4,190.3 4,525.4 335.1
Alaska 60.3 272.3 212.0
Indiana 2,506.7 2,708.4 201.7
Alabama 1,293.0 1,482.7 189.7

Top January to February Decreases
(Millions of Dollars, Not Seasonally Adjusted)
State January Total February Total Change
Texas $24,777.1 $21,728.1 -$3,049.0
Louisiana 6,312.0 5,427.2 -884.8
Kansas 1,119.8 863.8 -255.9
Florida 4,686.9 4,439.3 -247.6
Washington 6,737.1 6,500.0 -237.1

PROFILE OF 2011-2012 U.S. COMPANIES

(By Company Size)
Source: A Profile of U.S. Importing and Exporting Companies, 2011-2012

2012 Exporting Companies2012 Importing Companies

Small: Less than 100 employees, including number of employees unknown
Medium: 100 - 499 employees  |  Large: 500 or more employees

This space is used to present information on events that significantly impact trade, to highlight new or annual statistics or record levels of trade, or to report on trade in automotive or petroleum products, in manufactured goods, or with Free Trade Agreement partners.



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Source: U.S. Census Bureau | Foreign Trade | ftdwebmaster@census.gov |  Last Revised: April 03, 2014