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The first two pages of this release are shown in plain text below.
A PDF version of the entire release is also available and the tables from this release are available in an XLS spreadsheet.
Also available: a brief summary of highlights.
For plain text copies of the tables, please visit the Census web site.
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United States Department of
COMMERCE NEWS
Washington, D.C. 20230
ECONOMICS
AND
STATISTICS
ADMINISTRATION
------------
U.S. Census Bureau
U.S. Bureau of Economic Analysis
This release contains sensitive economic
data not to be released before 8:30 a.m. Friday,
August 13, 2004
CB-04-134 Press Copy
BEA-04-38
FT-900 (04-06)
For information on goods contact:
U.S. Census Bureau:
Haydn R. Mearkle (301) 763-2246
Nick Orsini (301) 763-2311
For information on services contact:
U.S. Bureau of Economic Analysis:
Technical: Christopher Bach (202) 606-9545
Media: Ralph Stewart (202) 606-9690
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
June 2004
Goods and Services
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the
Department of Commerce, announced today that total June exports of $92.8 billion
and imports of $148.6 billion resulted in a goods and services deficit of $55.8
billion, $8.9 billion more than the $46.9 billion in May, revised. June exports were
$4.2 billion less than May exports of $97.0 billion. June imports were $4.7 billion
more than May imports of $143.9 billion.
In June, the goods deficit increased $8.7 billion from May to $60.2 billion, and the
services surplus decreased $0.2 billion to $4.3 billion. Exports of goods decreased
$4.4 billion to $64.3 billion, and imports of goods increased $4.2 billion to $124.4
billion. Exports of services increased $0.3 billion to $28.6 billion, and imports of
services increased $0.5 billion to $24.2 billion.
In June, the goods and services deficit was up $15.8 billion from June 2003. Exports
were up $8.2 billion, or 9.7 percent, and imports were up $24.0 billion, or 19.3 percent.
Goods
The May to June change in exports of goods reflected and materials ($1.3 billion); foods,
feeds, and beverages ($0.3 billion); automotive vehicles, parts, and engines ($0.3
billion); and consumer goods ($0.1 billion). An increase occurred in other goods
($0.3 billion).
The May to June change in imports of goods reflected increases in industrial supplies
and materials ($3.3 billion); capital goods ($1.5 billion); and consumer goods ($0.1
billion). A decrease occurred in automotive vehicles, parts, and engines ($0.7 billion).
Foods, feeds, and beverages and other goods were virtually unchanged.
The June 2003 to June 2004 change in exports of goods reflected increases in capital
goods ($1.9 billion); industrial supplies and materials ($1.5 billion); consumer
goods ($0.8 billion); other goods ($0.5 billion); and automotive vehicles, parts,
and engines ($0.3 billion). A decrease occurred in foods, feeds, and beverages ($0.1 billion).
The June 2003 to June 2004 change in imports of goods reflected increases in industrial
supplies and materials ($10.1 billion); capital goods ($5.0 billion); consumer goods
($4.2 billion); foods, feeds, and beverages ($0.8 billion); automotive vehicles, parts,
and engines ($0.8 billion); and other goods ($0.1 billion).
Services
Services exports increased $0.3 billion from May to June. Increases in travel and passenger
fares were partly offset by a decrease in other transportation (which includes freight
and port services). Changes in the other categories of services exports were small.
Services imports increased $0.5 billion from May to June. Most of the increase was accounted
for by increases in other transportation and travel. Changes in the other categories of
services imports were small.
From June 2003 to June 2004, services exports increased $3.4 billion. The largest increases
were in travel ($1.3 billion), other private services, which includes items such as
business, professional, and technical services, insurance services, and financial services
($0.8 billion), and other transportation ($0.5 billion).
From June 2003 to June 2004, services imports increased $3.3 billion. The largest
increases were in travel ($1.0 billion), other transportation ($0.8 billion), and other
private services ($0.7 billion).
Goods and Services Moving Average
For the three months ending in June, exports of goods and services averaged $94.8 billion,
while imports of goods and services averaged $145.0 billion, resulting in an average
trade deficit of $50.3 billion. For the three months ending in May, the average trade
deficit was $47.2 billion, reflecting average exports of $95.6 billion and average imports of
$142.8 billion.
Selected Not Seasonally Adjusted Goods Details
The June figures showed surpluses, in billions of dollars, with Hong Kong $0.5 (for May $0.6),
Australia $0.5 ($0.6), Singapore $0.4 ($0.6), and Egypt $0.1 ($0.2). Deficits were recorded,
in billions of dollars, with China $14.2 ($12.1), Western Europe $10.7 ($8.2), the European
Union (25) $10.6 ($7.9), Canada $6.6 ($4.8), Japan $6.3 ($5.5), OPEC $6.2 ($5.6), Mexico $4.9
($3.8), Korea $2.0 ($1.6), Taiwan $1.2 ($1.0), and Brazil $1.1 ($0.4).
Advanced technology products (ATP) exports were $17.3 billion in June and imports were
$21.3 billion, resulting in a deficit of $4.0 billion. June exports were $0.2 billion more
than the $17.1 billion in May, while imports were $3.0 billion more than the $18.2 billion
in May.
Revisions
Goods carry-over in June was $0.3 billion (0.4 percent) for exports and $1.4 billion
(1.1 percent) for imports. For May, revised export carry-over was $0.1 billion (0.1 percent),
revised down from $0.3 billion (0.4 percent). For May, revised import carry-over was $0.1
billion (0.1 percent), revised down from $0.7 billion (0.6 percent).
Services exports for May were revised down $0.1 billion to $28.3 billion; the revision was
accounted for by downward revisions in travel, passenger fares, and other private services.
Services imports for May were revised up $0.2 billion to $23.7 billion; the revision was
more than accounted for by upward revisions in travel and passenger fares.
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