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


                         

CB05-66
BEA05-20
FT-900 (05-03)

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
                              March 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 March exports of $102.2 billion
and imports of $157.2 billion resulted in a goods and services deficit of $55.0
billion, $5.6 billion less than the $60.6 billion in February, revised.  March
exports were $1.5 billion more than February exports of $100.7 billion.  March
imports were $4.1 billion less than February imports of $161.2 billion.

In March, the goods deficit decreased $5.2 billion from February to $59.4 billion,
and the services surplus increased $0.4 billion to $4.4 billion.  Exports of goods
increased $1.0 billion to $72.1 billion, and imports of goods decreased $4.2 billion
to $131.5 billion.  Exports of services increased $0.5 billion to $30.1 billion, and
imports of services increased $0.1 billion to $25.7 billion.

In March, the goods and services deficit was up $7.9 billion from March 2004.
Exports were up $6.8 billion, or 7.1 percent, and imports were up $14.7 billion,
or 10.3 percent.

Goods

The February to March change in exports of goods reflected increases in capital
goods ($0.9 billion); foods, feeds, and beverages ($0.3 billion); and other goods
($0.1 billion).  Decreases occurred in industrial supplies and materials
($0.1 billion) and automotive vehicles, parts, and engines ($0.1 billion).
Consumer goods were virtually unchanged.

The February to March change in imports of goods reflected decreases in consumer
goods ($2.4 billion); automotive vehicles, parts, and engines ($1.3 billion);
capital goods ($0.3 billion); and industrial supplies and materials ($0.2 billion).
Foods, feeds, and beverages and other goods were virtually unchanged.

The March 2004 to March 2005 change in exports of goods reflected increases in
industrial supplies and materials ($2.0 billion); capital goods ($1.3 billion);
consumer goods ($0.8 billion); automotive vehicles, parts, and engines ($0.5
billion); and foods, feeds, and beverages ($0.1 billion).  A decrease occurred
in other goods ($0.3 billion).

The March 2004 to March 2005 change in imports of goods reflected increases in
industrial supplies and materials ($8.4 billion); capital goods ($2.3 billion);
consumer goods ($1.4 billion); other goods ($0.4 billion); and foods, feeds, and
beverages ($0.3 billion).  A decrease occurred in automotive vehicles, parts, and
engines ($0.2 billion).

Services

Services exports increased $0.5 billion from February to March.  The increase was
mostly accounted for by increases in other private services (which includes items
such as business, professional, and technical services, insurance services, and
financial services), travel, and other transportation (which includes freight and
port services).  Changes in the other categories of services exports were small.

Services imports increased $0.1 billion from February to March.  Increases in
travel and other private services were partly offset by a decrease in other
transportation.  Changes in the other categories of services imports were small.

From March 2004 to March 2005, services exports increased $2.2 billion.  The largest
increases were in other private services ($0.7 billion), travel ($0.7 billion), and
royalties and license fees ($0.4 billion).

From March 2004 to March 2005, services imports increased $2.1 billion.  The largest
increases were in other private services ($0.6 billion), other transportation ($0.6
billion), and travel ($0.4 billion).

Goods and Services Moving Average

For the three months ending in March, exports of goods and services averaged $101.1
billion, while imports of goods and services averaged $159.1 billion, resulting in
an average trade deficit of $58.0 billion.  For the three months ending in February,
the average trade deficit was $58.3 billion, reflecting average exports of $100.5
billion and average imports of $158.8 billion.

Selected Not Seasonally Adjusted Goods Details

The March figures showed surpluses, in billions of dollars, with Hong Kong $0.9
(for February $0.7), Singapore $0.9 ($0.4), Australia $0.8 ($0.7), and Egypt $0.1
($0.1).  Deficits were recorded, in billions of dollars, with China $12.9 ($13.9),
Europe $10.9 ($10.1), the European Union $9.3 ($8.5), Japan $7.8 ($6.9), OPEC
$6.6 ($6.3), Canada $5.0 ($5.8), Mexico $4.3 ($3.7), Korea $1.3 ($1.2), Brazil
$0.7 ($0.6), and Taiwan $0.7 ($1.0).

Advanced technology products (ATP) exports were $19.5 billion in March and imports
were $21.0 billion, resulting in a deficit of $1.5 billion.  March exports were
$4.7 billion more than the $14.9 billion in February, while imports were $2.7 billion
more than the $18.3 billion in February.

Revisions

Goods carry-over in March was $0.1 billion (0.2 percent) for exports and $1.0 billion
(0.7 percent) for imports.  For February, revised export carry-over was $0.2 billion
(0.3 percent), revised down from $0.4 billion (0.6 percent).  For February, revised
import carry-over was $0.1 billion (0.1 percent), revised down from $1.1 billion
(0.9 percent).

Services exports for February were revised up $0.3 billion to $29.6 billion; the
revision was mostly accounted for by an upward revision in travel.  Services imports
for February were revised down $0.1 billion to $25.6 billion; the revision was
mostly accounted for by a downward revision in passenger fares.