News Release
U.S. International Trade in Goods and Services, October 2000
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United States Department of COMMERCE NEWS Washington, D.C. 20230 ECONOMICS AND STATISTICS ADMINISTRATION ------------ Bureau of the Census Bureau of Economic Analysis This release contains sensitive economic data not to be released before 8:30 a.m. Tuesday, December 19, 2000 CB-00-213 Press Copy FT-900 (00-10) 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 October 2000 Goods and Services The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total October exports of $91.2 billion and imports of $124.4 billion resulted in a goods and services deficit of $33.2 billion, $0.6 billion less than the $33.7 billion in September, revised. October exports were $1.4 billion less than September exports of $92.7 billion. October imports were $2.0 billion less than September imports of $126.4 billion. In October, the goods deficit increased $0.2 billion from September to $39.5 billion, and the services surplus increased $0.7 billion to $6.3 billion. Exports of goods decreased to $66.4 billion from $67.8 billion, and imports of goods decreased to $105.9 billion from $107.2 billion. Exports of services were virtually unchanged at $24.8 billion, and imports of services decreased to $18.5 billion from $19.2 billion. Goods The September to October change in exports of goods reflected decreases in capital goods ($0.5 billion); consumer goods ($0.4 billion); industrial supplies and materials ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). An increase occurred in automotive vehicles, parts, and engines ($0.1 billion). Other goods were virtually unchanged. The September to October change in imports of goods reflected decreases in industrial supplies and materials ($0.5 billion); capital goods ($0.5 billion); other goods ($0.1 billion); foods, feeds, and beverages ($0.1 billion); and automotive vehicles, parts, and engines ($0.1 billion). An increase occurred in consumer goods ($0.1 billion). Services Services exports in October were virtually the same as in September, as a decrease in travel was nearly offset by an increase in other private services. Changes in the other categories of services exports were small. Services imports decreased $0.7 billion from September to October, mostly reflecting a decrease in royalties and license fees. Royalties and license fees had been boosted in September by payments for broadcast rights for the 2000 Summer Olympic Games. Changes in the other categories of services imports were small. Goods and Services Moving Average For the three months ending in October, exports of goods and services averaged $92.3 billion, while imports of goods and services averaged $124.6 billion, resulting in an average trade deficit of $32.3 billion. For the three months ending in September, the average trade deficit was $31.9 billion, reflecting average exports of $91.7 billion and average imports of $123.6 billion. Selected Not Seasonally Adjusted Goods Details The October figures showed surpluses, in billions of dollars, with Australia $0.5 (for September $0.4), Brazil $0.5 ($0.3), Hong Kong $0.3 ($0.1), Egypt $0.3 ($0.2), and Argentina $0.1 ($0.1). Deficits were recorded, in billions of dollars, with China -$9.1 (-$8.7), Japan -$8.4 (-$6.1), Western Europe -$6.1 (-$4.4), Canada -$4.7 (-$4.5), OPEC -$4.3 (-$4.2), Mexico -$2.4 (-$2.7), Taiwan -$1.6 (-$1.7), and Korea -$1.4 (-$1.2). Advanced technology products (ATP) exports were $20.5 billion in October and imports were $21.4 billion, resulting in a deficit of $0.9 billion. October exports were $0.4 billion more than the $20.1 billion in September, while imports were $0.2 billion more than the $21.2 billion in September. Revisions Goods carry-over in October was $1.1 billion (1.6 percent) for exports and $0.7 billion (0.6 percent) for imports. For September, revised export carry-over was $0.3 billion (0.4 percent), revised down from $0.5 billion (0.7 percent). For September, revised import carry-over was $0.3 billion (0.3 percent), revised down from $1.1 billion (1.0 percent). Services exports and imports for April through September 2000 were revised to incorporate revisions to BEA's quarterly U.S. international transactions accounts, which were released December 14 (see page 29 for the monthly revision policy). The revised quarterly and monthly estimates are based on more complete source data than were available previously. Services exports for September were revised down $0.2 billion to $24.8 billion; the revision was more than accounted for by downward revisions in other private services and royalties and license fees. Services imports for September were revised up $0.1 billion to $19.2 billion; the revision was mostly accounted for by an upward revision in travel. Scheduled Release Dates In 2001 are Located on Page 29 Table of Contents October 2000 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-00-213), Bureau of the Census, Foreign Trade Division, October 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division. PART A: SEASONALLY ADJUSTED EXHIBIT 1. U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES JANUARY 1998 TO OCTOBER 2000 (In millions of dollars. Details may not equal totals due to seasonal adjustment and rounding. (R) Revised.) Balance Period Total Goods (1) Services 1998 Jan.- Dec. -166,897 -246,853 79,956 Jan.- Oct. -136,777 -203,500 66,723 January -10,290 -17,446 7,156 February -10,765 -17,394 6,629 March -12,558 -19,806 7,248 April -13,902 -21,287 7,385 May -14,444 -21,551 7,107 June -13,260 -19,781 6,521 July -14,535 -20,623 6,088 August -16,600 -22,716 6,116 September -15,198 -21,224 6,026 October -15,223 -21,670 6,447 November -15,496 -21,904 6,408 December -14,628 -21,448 6,820 1999 Jan.- Dec. -264,971 -345,559 80,588 Jan.- Oct. -213,605 -280,903 67,298 January -15,946 -22,897 6,951 February -18,358 -25,104 6,746 March -18,372 -25,023 6,651 April -18,956 -25,851 6,895 May -21,003 -27,753 6,750 June -23,342 -30,381 7,039 July -24,740 -31,227 6,487 August -23,931 -30,518 6,587 September -24,047 -30,573 6,526 October -24,910 -31,576 6,666 November -25,712 -32,401 6,689 December -25,657 -32,255 6,598 2000 Jan.- Oct. -302,525 -370,093 67,568 January -27,266 -34,049 6,783 February -27,481 -34,641 7,160 March -30,370 -37,148 6,778 April (R) -29,172 -36,895 7,723 May (R) -29,603 -36,474 6,871 June (R) -29,826 -36,862 7,036 July (R) -31,823 -38,523 6,700 August (R) -30,059 -36,684 6,625 September (R) -33,740 -39,328 5,588 October -33,184 -39,488 6,304 November December September data as published last month: -34,263 -40,208 5,945 ___________________________________ Exports Period Total Goods (1) Services 1998 Jan.- Dec. 932,977 670,324 262,653 Jan.- Oct. 776,366 558,055 218,311 January 79,167 57,480 21,687 February 77,874 56,416 21,458 March 78,695 56,713 21,982 April 77,769 55,298 22,471 May 77,313 55,205 22,108 June 77,269 55,551 21,718 July 76,058 54,611 21,447 August 75,566 54,083 21,483 September 77,248 55,684 21,564 October 79,406 57,013 22,393 November 78,760 56,720 22,040 December 77,849 55,550 22,299 1999 Jan.- Dec. 956,242 684,358 271,884 Jan.- Oct. 788,936 563,466 225,470 January 77,035 54,966 22,069 February 76,240 54,296 21,944 March 77,046 54,687 22,359 April 77,864 55,403 22,461 May 77,753 55,343 22,410 June 78,679 55,696 22,983 July 79,004 56,385 22,619 August 81,108 58,402 22,706 September 81,857 59,094 22,763 October 82,349 59,193 23,156 November 83,198 59,682 23,516 December 84,107 61,211 22,896 2000 Jan.- Oct. 888,354 642,847 245,507 January 83,691 60,321 23,370 February 85,312 60,894 24,418 March 86,975 62,513 24,462 April (R) 87,606 62,566 25,040 May (R) 87,074 62,749 24,325 June (R) 91,288 66,468 24,820 July (R) 89,655 65,096 24,559 August (R) 92,868 67,973 24,895 September (R) 92,654 67,836 24,818 October 91,231 66,431 24,800 November December September data as published last month: 92,360 67,316 25,044 ____________________________________ Imports Period Total Goods (1) Services 1998 Jan.- Dec. 1,099,875 917,178 182,697 Jan.- Oct. 913,143 761,555 151,588 January 89,457 74,926 14,531 February 88,640 73,811 14,829 March 91,253 76,519 14,734 April 91,672 76,586 15,086 May 91,758 76,757 15,001 June 90,529 75,332 15,197 July 90,594 75,235 15,359 August 92,166 76,799 15,367 September 92,446 76,908 15,538 October 94,630 78,684 15,946 November 94,256 78,624 15,632 December 92,477 76,998 15,479 1999 Jan.- Dec. 1,221,213 1,029,917 191,296 Jan.- Oct. 1,002,541 844,369 158,172 January 92,981 77,863 15,118 February 94,598 79,400 15,198 March 95,418 79,710 15,708 April 96,821 81,255 15,566 May 98,756 83,096 15,660 June 102,021 86,077 15,944 July 103,744 87,612 16,132 August 105,039 88,920 16,119 September 105,904 89,667 16,237 October 107,259 90,769 16,490 November 108,909 92,082 16,827 December 109,764 93,466 16,298 2000 Jan.- Oct. 1,190,879 1,012,940 177,939 January 110,957 94,370 16,587 February 112,793 95,535 17,258 March 117,345 99,661 17,684 April (R) 116,777 99,460 17,317 May (R) 116,678 99,224 17,454 June (R) 121,114 103,330 17,784 July (R) 121,479 103,620 17,859 August (R) 122,927 104,657 18,270 September (R) 126,395 107,165 19,230 October 124,415 105,919 18,496 November December September data as published last month: 126,623 107,524 19,099 (1) Data presented on a Balance of Payments (BOP) basis. SOURCE: Report FT900 (CB-00-213), Bureau of the Census, Foreign Trade Division, October 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division. PART A: SEASONALLY ADJUSTED EXHIBIT 2. U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES THREE-MONTH MOVING AVERAGES -- JANUARY 1998 TO OCTOBER 2000 (In millions of dollars. Details may not equal totals due to seasonal adjustment and rounding. (R) Revised.) Balance Center Month of Moving Average Total Goods (1) Services 1998 January --- --- --- February -11,204 -18,215 7,011 March -12,409 -19,496 7,087 April -13,635 -20,882 7,247 May -13,869 -20,873 7,004 June -14,080 -20,652 6,572 July -14,799 -21,040 6,242 August -15,445 -21,521 6,077 September -15,674 -21,870 6,196 October -15,306 -21,600 6,294 November -15,116 -21,674 6,558 December -15,357 -22,083 6,726 1999 January -16,311 -23,150 6,839 February -17,559 -24,341 6,783 March -18,562 -25,326 6,764 April -19,444 -26,209 6,765 May -21,100 -27,995 6,895 June -23,028 -29,787 6,759 July -24,004 -30,709 6,704 August -24,240 -30,773 6,533 September -24,296 -30,889 6,593 October -24,890 -31,517 6,627 November -25,426 -32,077 6,651 December -26,211 -32,901 6,690 2000 January -26,801 -33,648 6,847 February -28,372 -35,279 6,907 March (R) -29,008 -36,228 7,220 April (R) -29,715 -36,839 7,124 May (R) -29,534 -36,744 7,210 June (R) -30,418 -37,287 6,869 July (R) -30,569 -37,356 6,787 August (R) -31,874 -38,179 6,304 September (R) -32,328 -38,500 6,172 October November December ____________________________________ Exports Center Month of Moving Average Total Goods (1) Services 1998 January --- --- --- February 78,579 56,870 21,709 March 78,113 56,142 21,970 April 77,926 55,739 22,187 May 77,450 55,351 22,099 June 76,880 55,122 21,758 July 76,298 54,748 21,549 August 76,291 54,793 21,498 September 77,407 55,593 21,813 October 78,471 56,472 21,999 November 78,672 56,428 22,244 December 77,881 55,745 22,136 1999 January 77,041 54,937 22,104 February 76,774 54,650 22,124 March 77,050 54,795 22,255 April 77,555 55,145 22,410 May 78,099 55,481 22,618 June 78,479 55,808 22,671 July 79,597 56,828 22,769 August 80,656 57,960 22,696 September 81,771 58,896 22,875 October 82,468 59,323 23,145 November 83,218 60,029 23,189 December 83,665 60,404 23,261 2000 January 84,370 60,809 23,561 February 85,326 61,243 24,083 March (R) 86,631 61,991 24,640 April (R) 87,218 62,609 24,609 May (R) 88,656 63,927 24,728 June (R) 89,339 64,771 24,568 July (R) 91,270 66,512 24,758 August (R) 91,726 66,969 24,757 September (R) 92,251 67,413 24,838 October November December ___________________________________ Imports Center Month of Moving Average Total Goods (1) Services 1998 January --- --- --- February 89,783 75,085 14,698 March 90,522 75,639 14,883 April 91,561 76,620 14,940 May 91,320 76,225 15,095 June 90,960 75,775 15,186 July 91,096 75,789 15,308 August 91,735 76,314 15,421 September 93,081 77,464 15,617 October 93,777 78,072 15,705 November 93,788 78,102 15,686 December 93,238 77,828 15,410 1999 January 93,352 78,087 15,265 February 94,332 78,991 15,341 March 95,612 80,121 15,491 April 96,998 81,353 15,645 May 99,199 83,476 15,723 June 101,507 85,595 15,912 July 103,601 87,536 16,065 August 104,896 88,733 16,163 September 106,067 89,785 16,282 October 107,358 90,840 16,518 November 108,644 92,106 16,538 December 109,877 93,306 16,571 2000 January 111,171 94,457 16,714 February 113,698 96,522 17,176 March (R) 115,638 98,219 17,420 April (R) 116,933 99,448 17,485 May (R) 118,190 100,671 17,518 June (R) 119,757 102,058 17,699 July (R) 121,840 103,869 17,971 August (R) 123,600 105,147 18,453 September (R) 124,579 105,913 18,665 October November December (1) Data presented on a Balance of Payments (BOP) basis. Note: The three-month moving averages shown in this exhibit are computed by summing the subject month, the two prior months, dividing by three and showing the average at the center month of the period. Using this method, an average is not available for the current month. A centered moving average is useful in smoothing the volatile trade data so that trends can better be discerned. SOURCE: Report FT900 (CB-00-213), Bureau of the Census, Foreign Trade Division, October 2000. For more information, contact Haydn R. Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign Trade Division.