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                             U.S. Census Bureau
                      U.S. Bureau of Economic Analysis
                                    NEWS
            U.S. Department of Commerce  Washington, D.C. 20230

                            
CB05-34
BEA05-08
FT-900 (05-01)

For information on goods contact:
U.S. Census Bureau:
Nick Orsini     (301) 763-6959
Vanessa Ware    (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
                                January 2005


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 January  exports of $100.8
billion and imports of $159.1 billion resulted in a goods and services deficit of
$58.3 billion, compared with $55.7 billion in December, revised.  January exports
were $0.4 billion more than December exports of $100.4 billion.  January imports
were $2.9 billion more than December imports of $156.2 billion.

In January, the goods deficit increased $2.4 billion from December to $62.3 billion,
and the services surplus decreased $0.1 billion to $4.0 billion.  Exports of goods
increased $0.1 billion to $71.3 billion, and imports of goods increased $2.5 billion
to $133.5 billion.  Exports of services increased $0.3 billion to $29.6 billion,
and imports of services increased $0.4 billion to $25.6 billion.

In January, the goods and services deficit was up $12.4 billion from January 2004.
Exports were up $12.0 billion, or 13.6 percent, and imports were up $24.5 billion,
or 18.2 percent.

Goods

The December to January change in exports of goods reflected increases in automotive
vehicles, parts, and engines ($0.3 billion) and other goods ($0.1 billion).
Decreases occurred in capital goods ($0.2 billion); consumer goods ($0.2 billion);
and foods, feeds, and beverages ($0.1 billion).  Industrial supplies and materials
were virtually unchanged.

The December to January change in imports of goods reflected increases in consumer
goods ($2.0 billion); automotive vehicles, parts, and engines ($0.5 billion); capital
goods ($0.5 billion); and other goods ($0.2 billion).  A decrease occurred in
industrial supplies and materials ($0.7 billion).  Foods, feeds, and beverages were
virtually unchanged.

The January 2004 to January 2005 change in exports of goods reflected increases in
industrial supplies and materials ($3.2 billion); capital goods ($2.6 billion);
consumer goods ($1.5 billion); automotive vehicles, parts, and engines ($1.4 billion);
other goods ($0.3 billion); and foods, feeds, and beverages ($0.1 billion).

The January 2004 to January 2005 change in imports of goods reflected increases in
industrial supplies and materials ($9.9 billion); consumer goods ($5.1 billion);
capital goods ($3.9 billion); automotive vehicles, parts, and engines ($1.9 billion);
foods, feeds, and beverages ($0.7 billion); and other goods ($0.5 billion).

Services

Services exports increased $0.3 billion from December to January.  Half of the
increase was accounted for by an increase in travel.  Changes in the other categories
of services exports were small.

Services imports increased $0.4 billion from December to January.  The increase was
mostly accounted for by increases in other transportation, which includes freight
and port services, and travel.  Changes in the other categories of services imports
were small.

From January 2004 to January 2005, services exports increased $2.6 billion.  The
largest increases were in travel ($0.9 billion) and in other private services, which
includes items such as business, professional, and technical services, insurance
services, and financial services ($0.8 billion).

From January 2004 to January 2005, services imports increased $2.4 billion.  The
largest increases were in other transportation ($0.9 billion), other private services
($0.6 billion), and travel ($0.4 billion).

Goods and Services Moving Average

For the three months ending in January, exports of goods and services averaged $99.5
billion, while imports of goods and services averaged $157.3 billion, resulting in an
average trade deficit of $57.8 billion.  For the three months ending in December,
the average trade deficit was $57.0 billion, reflecting average exports of $98.6
billion and average imports of $155.6 billion.

Selected Not Seasonally Adjusted Goods Details

The January figures showed surpluses, in billions of dollars, with Australia $0.6
(for December $0.5), Hong Kong $0.4 ($0.7), Singapore $0.3 ($0.2), and Egypt $0.2
($0.1).  Deficits were recorded, in billions of dollars, with China $15.3 ($14.3),
Europe $9.5 ($11.9), the European Union $8.1 ($10.3), Japan $6.2 ($6.9), Canada $6.2
($4.9), OPEC $6.1 ($5.8), Mexico $2.9 ($3.4), Korea $1.9 ($1.3), Taiwan $1.2 ($0.6),
Brazil $0.9 ($0.9), and Argentina $0.1 ($0.1).

Advanced technology products (ATP) exports were $15.2 billion in January and imports
were $18.8 billion, resulting in a deficit of $3.7 billion.  January exports were $2.8
billion less than the $18.0 billion in December, while imports were $2.7 billion less
than the $21.5 billion in December.

Revisions

Goods carry-over in January was $0.4 billion (0.6 percent) for exports and $1.1
billion (0.9 percent) for imports.  For December, revised export carry-over was $0.2
billion (0.3 percent), revised down from $0.4 billion (0.6 percent).  For December,
revised import carry-over was $0.4 billion (0.3 percent), revised down from $2.0
billion (1.6 percent).

Goods and services exports and imports for all months in 2004 were revised in order
to align the seasonally adjusted monthly estimates with the annual totals.

Services exports and imports for July through December 2004 reflect the incorporation
of more comprehensive and revised quarterly and monthly data.  For services exports,
the largest revision over the entire period was in other private services.  For
services imports, the largest revisions over the entire period were in other
transportation and other private services.

Services exports for December were revised up $0.2 billion to $29.3 billion; the
revision was mostly accounted for by an upward revision in other private services.
Services imports for December were revised up $0.3 billion to $25.2 billion; the
revision was mostly accounted for by upward revisions in other transportation and
other private services.