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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,
January 12, 2005
CB-05-04 Press Copy
BEA-05-01
FT-900 (04-11)
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
November 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 November exports of $95.6
billion and imports of $155.8 billion resulted in a goods and services deficit
of $60.3 billion, $4.3 billion more than the $56.0 billion in October, revised.
November exports were $2.2 billion less than October exports of $97.8 billion.
November imports were $2.0 billion more than October imports of $153.8 billion.
In November, the goods deficit increased $4.0 billion from October to $64.1
billion, and the services surplus decreased $0.3 billion to $3.8 billion. Exports
of goods decreased $2.6 billion to $66.5 billion, and imports of goods increased
$1.4 billion to $130.7 billion. Exports of services increased $0.4 billion to
$29.0 billion, and imports of services increased $0.7 billion to $25.2 billion.
In November, the goods and services deficit was up $20.3 billion from November
2003. Exports were up $5.4 billion, or 6.0 percent, and imports were up $25.7
billion, or 19.8 percent.
Goods
The October to November change in exports of goods reflected decreases in capital
goods ($1.4 billion); industrial supplies and materials ($0.8 billion); automotive
vehicles, parts, and engines ($0.4 billion); consumer goods ($0.2 billion); and
foods, feeds, and beverages ($0.1 billion). An increase occurred in other goods
($0.2 billion).
The October to November change in imports of goods reflected increases in industrial
supplies and materials ($1.2 billion); consumer goods ($0.4 billion); foods, feeds,
and beverages ($0.2 billion); and other goods ($0.2 billion). Decreases occurred
in automotive vehicles, parts, and engines ($0.4 billion) and capital goods ($0.1
billion).
The November 2003 to November 2004 change in exports of goods reflected increases
in industrial supplies and materials ($2.5 billion); consumer goods ($0.6 billion);
automotive vehicles, parts, and engines ($0.5 billion); and other goods ($0.2
billion). Decreases occurred in foods, feeds, and beverages ($0.4 billion) and
capital goods ($0.2 billion).
The November 2003 to November 2004 change in imports of goods reflected increases
in industrial supplies and materials ($13.8 billion); capital goods ($4.0 billion);
consumer goods ($3.3 billion); automotive vehicles, parts, and engines ($0.8 billion);
foods, feeds, and beverages ($0.5 billion); and other goods ($0.3 billion).
Services
Services exports increased $0.4 billion from October to November. The increase
was more than accounted for by increases in travel, passenger fares, and other
private services (which includes items such as business, professional, and technical
services, insurance services, and financial services). Changes in the other
categories of services exports were small.
Services imports increased $0.7 billion from October to November. Most of the
increase was accounted for by an increase in other transportation (which includes
freight and port services). Travel, passenger fares, and other private services
also increased. Changes in the other categories of services imports were small.
From November 2003 to November 2004, services exports increased $1.9 billion. The
largest increases were in other private services ($0.6 billion), travel ($0.5 billion),
and other transportation ($0.4 billion).
From November 2003 to November 2004, services imports increased $2.9 billion. The
largest increases were in other transportation ($1.2 billion), travel ($0.7 billion),
and other private services ($0.6 billion).
Goods and Services Moving Average
For the three months ending in November, exports of goods and services averaged
$96.9 billion, while imports of goods and services averaged $152.7 billion, resulting
in an average trade deficit of $55.7 billion. For the three months ending in October,
the average trade deficit was $53.6 billion, reflecting average exports of $97.2
billion and average imports of $150.8 billion.
Selected Not Seasonally Adjusted Goods Details
The November figures showed surpluses, in billions of dollars with, Australia $0.5
(for October $0.6), Hong Kong $0.5 ($0.4), Singapore $0.1 ($0.1), and Egypt $0.1
($0.2). Deficits were recorded, in billions of dollars, with China $16.6 ($16.8),
the European Union (25) $10.5 ($9.3), Canada $7.3 ($5.7), Japan $7.3 ($5.9), OPEC
$6.9 ($7.2), Mexico $3.9 ($4.4), Korea $2.3 ($2.0), Taiwan $1.4 ($1.1), and Brazil
$0.8 ($0.8).
Advanced technology products (ATP) exports were $16.1 billion in November and imports
were $21.9 billion, resulting in a deficit of $5.8 billion. November exports were
$1.8 billion less than the $17.9 billion in October, while imports were virtually
unchanged from October.
Revisions
Goods carry-over in November was $0.3 billion (0.4 percent)for exports and $1.1
billion (0.8 percent) for imports. For October, revised export carry-over was
$0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent). For
October, revised import carry-over was $0.2 billion (0.1 percent), revised down
from $0.9 billion (0.6 percent).
Services exports for October were revised down $0.1 billion to $28.6 billion;
the revision was mostly accounted for by a downward revision in travel. Services
imports for October were virtually unchanged at $24.5 billion.
Notice
With the release of the January 2005 statistics on March 11, 2005, exhibits 14 and
14a of the U.S. International Trade in Goods and Services release and exhibits 6 and
6a of the FT-900 Supplement will be revised. The primary modifications are to add
lines to the exhibits for Europe, Africa, and individual countries that have accounted
for increased trade activity in recent years. In addition, lines pertaining to Western
Europe, Eastern Europe, European Union (15), and the former Soviet Republics will be
removed. For examples of the revised exhibits, go to www.census.gov/foreign-trade/
2005_examples.html. If you have any questions or comments, please contact Vanessa
Ware at (301) 763-2311 or e-mail at vanessa.ware@census.gov.
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