U.S. International Trade in Goods and Services Highlights

May 10, 2012

Goods and Services Deficit Increases in March 2012

The Nation's international trade deficit in goods and services increased to $51.8 billion in March from $45.4 billion (revised) in February, as imports increased more than exports.

Goods and Services

• Exports increased to $186.8 billion in March from $181.5 billion in February (revised). Goods were $132.7 billion in March, up from $127.9 billion in February. Services were $54.1 billion in March, up from $53.6 billion in February.

• Imports increased to $238.6 billion in March from $226.9 billion in February (revised).  Goods were $200.3 billion in March, up from $189.0 billion in February. Services were $38.3 billion in March, up from $37.9 billion in February.

• For goods, the deficit was $67.6 billion in March, up from $61.1 billion in February (revised). For services, the surplus was $15.8 billion in March, up from $15.7 billion in February.
  

Goods by Category (Census basis)

• The February to March increase in exports of goods reflected increases in industrial supplies and materials ($2.4 billion); capital goods ($1.2 billion); foods, feeds, and beverages ($0.5 billion); other goods ($0.4 billion); automotive vehicles, parts, and engines ($0.4 billion); and consumer goods ($0.1 billion).

• The February to March increase in imports of goods reflected increases in capital goods ($3.5 billion); consumer goods ($3.3 billion); industrial supplies and materials ($2.5 billion); automotive vehicles, parts, and engines ($1.2 billion); other goods ($0.5 billion); and foods, feeds, and beverages ($0.2 billion).   
  

Services by Category

• Exports of services increased $0.5 billion from February to March.  The increase was mostly accounted for by increases in other private services ($0.2 billion), which includes items such as business, professional, and technical services, insurance services, and financial services, royalties and license fees ($0.2 billion), and other transportation ($0.1 billion), which includes freight and port services.  Changes in the other categories of services exports were small.

• Imports of services increased $0.4 billion from February to March.  The increase was mostly accounted for by increases in other transportation ($0.2 billion), other private services ($0.1 billion), and travel ($0.1 billion).  Changes in the other categories of services imports were small.
  

Goods by Geographic Area (Not Seasonally Adjusted)

• The goods deficit with Canada increased from $2.9 billion in February to $3.1 billion in March.  Exports increased $2.8 billion (primarily automobiles, parts, and accessories) to $26.2 billion, while imports increased $3.0 billion (primarily crude oil, fuel oil, and petroleum products) to $29.3 billion.
  

• The goods deficit with China increased from $19.4 billion in February to $21.7 billion in March.  Exports increased $1.1 billion (primarily passenger cars; civilian aircraft, engines, equipment and parts; and copper) to $9.8 billion, while imports increased $3.4 billion (primarily computers and accessories and telecommunications equipment) to $31.5 billion.


• The goods deficit with Japan increased from $7.0 billion in February to $7.1 billion in March.  Exports increased $0.6 billion (primarily civilian aircraft, engines, equipment, and parts and petroleum products) to $6.1 billion, while imports increased $0.8 billion (primarily passenger cars, photo equipment, and excavating machinery) to $13.3 billion.

This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release:

U.S.International Trade in Goods and Services: March 2012 .

For further information on goods, contact Maria Iseman, Foreign Trade Division, U.S. Census Bureau, on (301) 763-2311; on services, contact Edward Dozier, U.S. Bureau of Economic Analysis, on (202) 606-9559.

NOTE: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the information section on page A-1 of the FT-900 release, or at www.census.gov/ft900 or http://www.bea.gov/bea/di/home/trade.htm.

The next release is June 8, 2012

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Note: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the Information Section (PDF, 53k) (TXT, 23k)

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Related sites:

• U.S. Department of Commerce
  • U.S. Census Bureau, Foreign Trade Division
  • Bureau of Economic Analysis