News Release
U.S. International Trade in Goods and Services: September 2006
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U.S. Census Bureau U.S. Bureau of Economic Analysis NEWS U.S. Department of Commerce Washington, D.C. 20230 CB06-164 BEA06-50 FT-900 (06-09) 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) 606-2649 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES September 2006 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 September exports of $123.2 billion and imports of $187.5 billion resulted in a goods and services deficit of $64.3 billion, $4.7 billion less than the $69.0 billion in August, revised. September exports were $0.6 billion more than August exports of $122.6 billion. September imports were $4.1 billion less than August imports of $191.6 billion. In September, the goods deficit decreased $4.8 billion from August to $70.1 billion, and the services surplus decreased $0.1 billion to $5.8 billion. Exports of goods increased $0.6 billion to $88.6 billion, and imports of goods decreased $4.2 billion to $158.7 billion. Exports of services were virtually unchanged at $34.5 billion, and imports of services were virtually unchanged at $28.7 billion. In September, the goods and services deficit was down $0.7 billion from September 2005. Exports were up $16.8 billion, or 15.8 percent, and imports were up $16.2 billion, or 9.4 percent. Goods The August to September change in exports of goods reflected increases in industrial supplies and materials ($1.0 billion); capital goods ($0.7 billion); and other goods ($0.3 billion). Decreases occurred in automotive vehicles, parts, and engines ($0.7 billion); consumer goods ($0.4 billion); and foods, feeds, and beverages ($0.3 billion). The August to September change in imports of goods reflected decreases in industrial supplies and materials ($3.6 billion); capital goods ($0.6 billion); automotive vehicles, parts, and engines ($0.4 billion); and foods, feeds, and beverages ($0.1 billion). An increase occurred in consumer goods ($0.6 billion). Other goods were virtually unchanged. The September 2005 to September 2006 change in exports of goods reflected increases in capital goods ($6.5 billion); industrial supplies and materials ($5.4 billion); other goods ($1.0 billion); consumer goods ($0.9 billion); foods, feeds, and beverages ($0.9 billion); and automotive vehicles, parts, and engines ($0.3 billion). The September 2005 to September 2006 change in imports of goods reflected increases in industrial supplies and materials ($5.2 billion); consumer goods ($3.8 billion); capital goods ($3.5 billion); automotive vehicles, parts, and engines ($0.8 billion); foods, feeds, and beverages ($0.5 billion); and other goods ($0.2 billion). Services Services exports were virtually unchanged from August to September. A decrease in other transportation (which includes freight and port services) was mostly offset by an increase in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services). Changes in other categories of services exports were small. Services imports were virtually unchanged from August to September. An increase in other private services was mostly offset by small decreases in other categories of services imports. From September 2005 to September 2006, services exports increased $2.1 billion. The largest increases were in other private services ($1.5 billion), royalties and license fees ($0.5 billion), and other transportation ($0.4 billion). From September 2005 to September 2006, services imports increased $2.1 billion. The largest increases were in other private services ($1.5 billion) and other transportation ($0.3 billion). Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $121.8 billion, while imports of goods and services averaged $188.9 billion, resulting in an average trade deficit of $67.1 billion. For the three months ending in August, the average trade deficit was $67.3 billion, reflecting average exports of $121.2 billion and average imports of $188.5 billion. Selected Not Seasonally Adjusted Goods Details The September figures showed surpluses, in billions of dollars, with Hong Kong $1.0 ($0.7 for August), Australia $0.9 ($0.9), Singapore $0.7 ($0.4), Egypt $0.2 ($0.2), and Argentina $0.2 ($0.1). Deficits were recorded, in billions of dollars, with China $23.0 ($22.0), OPEC $9.2 ($11.2), Europe $9.0 ($13.7), the European Union $7.0 ($11.0), Japan $6.7 ($7.5), Mexico $5.8 ($6.2), Canada $5.7 ($6.1), Taiwan $1.5 ($1.7), Korea $0.8 ($1.1), and Brazil $0.5 ($1.0). Advanced technology products (ATP) exports were $22.0 billion in September and imports were $26.2 billion, resulting in a deficit of $4.2 billion. September exports were $0.7 billion more than the $21.3 billion in August, while imports were $1.3 billion more than the $24.9 billion in August. Revisions Goods carry-over in September was $0.2 billion (0.2 percent) for exports and $1.0 billion (0.6 percent) for imports. For August, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.2 billion (0.2 percent). For August, revised import carry-over was $0.6 billion (0.3 percent), revised down from $2.0 billion (1.2 percent). Services exports for August were revised up $0.1 billion to $34.6 billion; the revision was mostly accounted for by an upward revision to travel. Services imports for August were revised down $0.1 billion to $28.7 billion; the revision was mostly accounted for by a downward revision to travel.