 |
Available for this release:  Full Release: PDF (398 kb)) | Information,  Tables: XLS (311 kb) | Plain Text Copies, Highlights: PDF (54 kb)
Note: Revisions to trade in services.
 |
|
U.S. Census Bureau
U.S. Bureau of Economic Analysis
NEWS
U.S. Department of Commerce Washington, D.C. 20230
CB05-132
BEA05-40
FT-900 (05-07)
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
July 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 July exports of $106.2 billion
and imports of $164.2 billion resulted in a goods and services deficit of $57.9
billion, $1.6 billion less than the $59.5 billion in June, revised. July exports
were $0.4 billion more than June exports of $105.8 billion. July imports were
$1.1 billion less than June imports of $165.3 billion.
In July, the goods deficit decreased $1.3 billion from June to $62.6 billion, and
the services surplus increased $0.3 billion to $4.6 billion. Exports of goods
increased $0.4 billion to $74.9 billion, and imports of goods decreased $0.9
billion to $137.5 billion. Exports of services were virtually unchanged at $31.3
billion, and imports of services decreased $0.3 billion to $26.7 billion.
In July, the goods and services deficit was up $6.6 billion from July 2004.
Exports were up $10.0 billion, or 10.4 percent, and imports were up $16.7 billion,
or 11.3 percent.
Goods
The June to July change in exports of goods reflected increases in industrial
supplies and materials ($0.3 billion); capital goods ($0.2 billion); automotive
vehicles, parts, and engines ($0.1 billion); and consumer goods ($0.1 billion).
Decreases occurred in other goods ($0.4 billion) and foods, feeds, and beverages
($0.1 billion).
The June to July change in imports of goods reflected decreases in consumer goods
($0.8 billion) and capital goods ($0.7 billion). Increases occurred in industrial
supplies and materials ($0.5 billion); automotive vehicles, parts, and engines
($0.1 billion); and other goods ($0.1 billion). Foods, feeds, and beverages were
virtually unchanged.
The July 2004 to July 2005 change in exports of goods reflected increases in
industrial supplies and materials ($2.5 billion); capital goods ($2.3 billion);
consumer goods ($1.2 billion); automotive vehicles, parts, and engines ($0.4
billion); foods, feeds, and beverages ($0.4 billion); and other goods ($0.4 billion).
The July 2004 to July 2005 change in imports of goods reflected increases in
industrial supplies and materials ($7.9 billion); capital goods ($2.8 billion);
consumer goods ($2.4 billion); automotive vehicles, parts, and engines ($0.7
billion); other goods ($0.6 billion); and foods, feeds, and beverages ($0.4 billion).
Services
Services exports were virtually unchanged from June to July. A decrease in travel
was offset by an increase in transfers under U.S. military sales contracts.
Changes in the other categories of services exports were small.
Services imports decreased $0.3 billion from June to July. The decrease was more
than accounted for by decreases in travel and passenger fares. Changes in the
other categories of services imports were small.
From July 2004 to July 2005, services exports increased $2.9 billion. The largest
increases were in royalties and license fees ($0.8 billion) and travel ($0.7
billion).
From July 2004 to July 2005, services imports increased $2.0 billion. The largest
increases were in other private services, which includes items such as business,
professional, and technical services, insurance services, and financial services
($0.7 billion) and other transportation, which includes freight and port services
($0.5 billion).
Goods and Services Moving Average
For the three months ending in July, exports of goods and services averaged $105.9
billion, while imports of goods and services averaged $163.8 billion, resulting
in an average trade deficit of $57.8 billion. For the three months ending in June,
the average trade deficit was $57.8 billion, reflecting average exports of $105.8
billion and average imports of $163.5 billion.
Selected Not Seasonally Adjusted Goods Details
The July figures showed surpluses, in billions of dollars, with Australia $0.6
(for June $0.7), Hong Kong $0.5 ($0.7), Singapore $0.4 ($0.5), and Egypt $0.1
($0.2). Deficits were recorded, in billions of dollars, with China $17.7 ($17.6),
Europe $13.1 ($12.8), the European Union $11.2 ($10.8), OPEC $8.9 ($7.7), Japan
$6.6 ($6.9), Canada $6.2 ($5.4), Mexico $3.5 ($4.8), Taiwan $1.1 ($1.2), Korea
$1.0 ($1.3), and Brazil $0.8 ($0.8).
Advanced technology products (ATP) exports were $17.3 billion in July and imports
were $21.5 billion, resulting in a deficit of $4.2 billion. July exports were $2.0
billion less than the $19.3 billion in June, while imports were $1.5 billion less
than the $22.9 billion in June.
Revisions
Goods carry-over in July was $0.4 billion (0.5 percent) for exports and $1.0
billion (0.7 percent) for imports. For June, revised export carry-over was $0.2
billion (0.2 percent), revised down from $0.3 billion (0.4 percent). For June,
revised import carry-over was $0.2 billion (0.1 percent), revised down from $1.0
billion (0.7 percent).
Services exports and imports for January through June 2005 reflect the incorporation
of more comprehensive and revised quarterly and monthly data. For services exports,
the largest revisions over the entire period were in other private services. For
services imports, the largest revisions over the entire period were also in other
private services.
Services exports for June were revised down $1.1 billion to $31.3 billion; the
revision was mostly the result of the reporting of settlements under financial
contracts as other private services. Services imports for June were revised down
$0.2 billion to $27.0 billion; the revision was accounted for by downward revisions
in other private services and royalties and license fees, which were partly offset
by upward revisions in travel and other transportation.
|
|
