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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. Wednesday,
May 12, 2004
CB-04-73 Press Copy
BEA-04-20
FT-900 (04-03)
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
March 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 March exports of $94.7
billion and imports of $140.7 billion resulted in a goods and services deficit
of $46.0 billion, compared with $42.1 billion in February, revised. March exports
were $2.4 billion more than February exports of $92.3 billion. March imports
were $6.2 billion more than February imports of $134.4 billion.
In March, the goods deficit increased $3.8 billion from February to $51.2 billion,
and the services surplus decreased $0.1 billion to $5.3 billion. Exports of goods
increased $2.3 billion to $67.2 billion, and imports of goods increased $6.0
billion to $118.4 billion. Exports of services increased to $27.5 billion from
$27.4 billion, and imports of services increased to $22.2 billion from $22.0
billion.
In March, the goods and services deficit was up $3.0 billion from March 2003.
Exports were up $12.1 billion, or 14.6 percent, and imports were up $15.1 billion,
or 12.0 percent.
Goods
The February to March change in exports of goods reflected increases in
industrial supplies and materials ($1.0 billion); consumer goods ($0.6 billion);
capital goods ($0.5 billion); automotive vehicles, parts, and engines ($0.2
billion); other goods ($0.2 billion); and foods, feeds, and beverages ($0.1
billion).
The February to March change in imports of goods reflected increases in consumer
goods ($2.6 billion); industrial supplies and materials ($1.9 billion); capital
goods ($0.9 billion); automotive vehicles, parts, and engines ($0.6 billion); and
foods, feeds, and beverages ($0.1 billion). A decrease occurred in other goods
($0.1 billion).
The March 2003 to March 2004 change in exports of goods reflected increases in
capital goods ($4.1 billion); industrial supplies and materials ($2.5 billion);
consumer goods ($1.3 billion); automotive vehicles, parts, and engines ($0.6
billion); foods, feeds, and beverages ($0.4 billion); and other goods ($0.1
billion).
The March 2003 to March 2004 change in imports of goods reflected increases in
capital goods ($3.7 billion); consumer goods ($3.3 billion); industrial supplies
and materials ($3.2 billion); automotive vehicles, parts, and engines ($1.7
billion); foods, feeds, and beverages ($0.6 billion); and other goods ($0.1
billion).
Services
Services exports increased $0.1 billion from February to March. Increases in
other transportation (which includes freight and port services) and other private
services (which includes items such as business, professional, and technical
services, insurance services, and financial services) more than offset a decrease
in travel. Changes in the other categories of services exports were small.
Services imports increased $0.2 billion from February to March. An increase in
other transportation more than offset a decrease in travel. Changes in the other
categories of services imports were small.
From March 2003 to March 2004, services exports increased $3.2 billion. The
largest increases were in travel ($1.0 billion) and other private services
($1.0 billion).
From March 2003 to March 2004, services imports increased $2.4 billion. The
largest increases were in other private services ($0.7 billion), other
transportation ($0.6 billion), and travel ($0.6 billion).
Goods and Services Moving Average
For the three months ending in March, exports of goods and services averaged
$91.9 billion, while imports of goods and services averaged $135.8 billion,
resulting in an average trade deficit of $43.8 billion. For the three months
ending in February, the average trade deficit was $42.8 billion, reflecting
average exports of $90.4 billion and average imports of $133.2 billion.
Selected Not Seasonally Adjusted Goods Details
The March figures showed surpluses, in billions of dollars, with Singapore $0.8
(for February $0.2), Hong Kong $0.7 ($0.7), Australia $0.6 ($0.6), and Egypt
$0.2 ($0.2). Deficits were recorded, in billions of dollars, with China
$10.4 ($8.3), Western Europe $10.1 ($8.1), the European Union $9.3 ($7.4),
Japan $6.7 ($6.1), OPEC $5.6 ($4.7), Canada $5.1 ($5.1), Mexico $3.9 ($3.6),
Korea $1.4 ($0.9),Taiwan $0.8 ($0.7), and Brazil $0.2 (surplus of $0.1).
Advanced technology products (ATP) exports were $19.0 billion in March and
imports were $20.4 billion, resulting in a deficit of $1.4 billion. March
exports were $3.0 billion more than the $16.0 billion in February, while imports
were $3.7 billion more than the $16.7 billion in February.
Revisions
Goods carry-over in March was $0.2 billion (0.3 percent)for exports and $1.1
billion (0.9 percent) for imports. For February, revised export carry-over
was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent).
For February, revised import carry-over was $0.2 billion (0.1 percent), revised
down from $1.0 billion (1.0 percent).
Services exports for February were revised up $0.1 billion to $27.4 billion; the
revision was mostly accounted for by an upward revision in travel. Services
imports for February were revised down $0.1 billion to $22.0 billion; the revision
was more than accounted for by downward revisions in travel and passenger fares.
NOTICE
While compiling the March 2004 import statistics for energy-related petroleum
products, found in exhibit 17 of this release, the U.S. Census Bureau identified
a processing error that caused several commodities to be omitted from the
energy-related petroleum products group. With this release, the energy-related
petroleum products group has been revised to include the missing commodities and
the statistics for January and February 2004 have been revised. If you have
further questions contact the U.S. Census Bureau, Foreign Trade Division at:
(301) 763-2311 or e-mail Nick Orsini at nick.orsini@census.gov.
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