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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.
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
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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,
January 14, 2004
CB-04-05 Press Copy
BEA-04-02
FT-900 (03-11)
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: Larry Moran (202) 606-2649
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
November 2003
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 November exports of $90.6
billion and imports of $128.6 billion resulted in a goods and services deficit
of $38.0 billion, $3.6 billion less than the $41.6 billion in October, revised.
November exports were $2.5 billion more than October exports of $88.1 billion.
November imports were $1.0 billion less than October imports of $129.7 billion.
In November, the goods deficit decreased $3.5 billion from October to $43.6
billion, and the services surplus increased $0.1 billion to $5.6 billion.
Exports of goods increased $2.2 billion to $63.8 billion, and imports of goods
decreased $1.3 billion to $107.4 billion. Exports of services increased to
$26.8 billion from $26.4 billion, and imports of services increased to $21.2
billion from $20.9 billion.
In November, the goods and services deficit was down $0.6 billion from November
2002. Exports were up $7.7 billion, or 9.3 percent, and imports were up $7.1
billion, or 5.8 percent.
Goods
The October to November change in exports of goods reflected increases in capital
goods ($1.7 billion); consumer goods ($0.6 billion); and foods, feeds, and
beverages ($0.4 billion). Decreases occurred in automotive vehicles, parts, and
engines ($0.3 billion); other goods ($0.1 billion); and industrial supplies and
materials ($0.1 billion).
The October to November change in imports of goods reflected decreases in
industrial supplies and materials ($1.3 billion); consumer goods ($0.2 billion);
and automotive vehicles, parts, and engines ($0.1 billion). Increases occurred
in capital goods ($0.2 billion) and foods, feeds, and beverages ($0.1 billion).
Other goods were virtually unchanged.
The November 2002 to November 2003 change in exports of goods reflected increases
in capital goods ($2.9 billion); industrial supplies and materials ($1.1 billion);
consumer goods ($0.9 billion); foods, feeds, and beverages ($0.8 billion); and
automotive vehicles, parts, and engines ($0.2 billion). A decrease occurred in
other goods ($0.1 billion).
The November 2002 to November 2003 change in imports of goods reflected increases
in industrial supplies and materials ($1.7 billion); consumer goods ($1.3 billion);
capital goods ($1.3 billion); automotive vehicles, parts, and engines
($0.7 billion); foods, feeds, and beverages ($0.5 billion); and other goods
($0.1 billion).
Services
Services exports increased $0.4 billion from October to November. The increase
was more than accounted for by increases in travel and passenger fares. Changes
in the other categories of services exports were small.
Services imports increased $0.3 billion from October to November. The increase
was more than accounted for by increases in travel and passenger fares. Changes
in the other categories of services imports were small.
From November 2002 to November 2003, services exports increased $1.7 billion.
The largest increases were in other private services ($0.8 billion), which
includes items such as business, professional, and technical services, insurance
services, and financial services, and royalties and license fees ($0.4 billion).
From November 2002 to November 2003, services imports increased $1.6 billion.
The largest increases were in other private services ($0.6 billion), other
transportation ($0.3 billion), which includes freight and port services, and
direct defense expenditures ($0.3 billion).
Goods and Services Moving Average
For the three months ending in November, exports of goods and services averaged
$88.1 billion, while imports of goods and services averaged $128.5 billion,
resulting in an average trade deficit of $40.3 billion. For the three months
ending in October, the average trade deficit was $40.8 billion, reflecting average
exports of $85.7 billion and average imports of $126.5 billion.
Selected Not Seasonally Adjusted Goods Details
The November figures showed surpluses, in billions of dollars, with Hong Kong
$0.5 (for October $0.3), Australia $0.5 ($0.6), Singapore $0.2 ($0.1), and Egypt
$0.1 ($0.2). Deficits were recorded, in billions of dollars, with China $10.8
($13.6), Western Europe $7.8 ($9.4), Japan $5.7 ($6.4), Canada $4.2 ($4.7),
OPEC $3.9 ($4.4), Mexico $3.0 ($3.5), Korea $1.2 ($1.6), Taiwan $1.1 ($1.1),
and Brazil $0.4 ($0.6).
Advanced technology products (ATP) exports were $16.7 billion in November and
imports were $18.6 billion, resulting in a deficit of $1.9 billion. November
exports were $0.4 billion more than the $16.3 billion in October, while imports
were $1.2 billion less than the $19.8 billion in October.
Revisions
Goods carry-over in November was $0.5 billion (0.7 percent) for exports and
$0.8 billion (0.8 percent) for imports. For October, revised export carry-over
was $0.1 billion (0.2 percent), revised down from $0.2 billion (0.4 percent).
For October, revised import carry-over was $0.4 billion (0.3 percent), revised
down from $1.1 billion (1.0 percent).
Services exports for October were revised down $0.2 billion to $26.4 billion;
the revision was mostly accounted for by downward revisions in passenger fares
and travel. Services imports for October were virtually unrevised at $20.9 billion.
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