U.S. Census Bureau:
U.S. Bureau of Economic Analysis:
NEWS
U.S. Department of Commerce * Washington, DC 20230
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
February 2011
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 February exports of $165.1 billion and imports
of $210.9 billion resulted in a goods and services deficit of $45.8 billion, down from
$47.0 billion in January, revised. February exports were $2.4 billion less than January
exports of $167.5 billion. February imports were $3.6 billion less than January imports
of $214.5 billion.
In February, the goods deficit decreased $1.0 billion from January to $59.3 billion, and
the services surplus increased $0.3 billion to $13.6 billion. Exports of goods decreased
$2.5 billion to $118.0 billion, and imports of goods decreased $3.4 billion to $177.3
billion. Exports of services were virtually unchanged at $47.2 billion, and imports of
services decreased $0.2 billion to $33.6 billion.
The goods and services deficit increased $6.0 billion from February 2010 to February 2011.
Exports were up $20.5 billion, or 14.2 percent, and imports were up $26.6 billion, or
14.4 percent.
Goods (Census basis)
The January to February decrease in exports of goods reflected decreases in automotive
vehicles, parts, and engines ($1.0 billion); industrial supplies and materials ($0.6
billion); other goods ($0.5 billion); capital goods ($0.3 billion); consumer goods ($0.2
billion); and foods, feeds, and beverages ($0.2 billion).
The January to February decrease in imports of goods reflected decreases in automotive
vehicles, parts, and engines ($2.3 billion); capital goods ($2.1 billion); industrial
supplies and materials ($1.4 billion); and other goods ($0.1 billion). Increases occurred
in consumer goods ($2.3 billion) and foods, feeds, and beverages ($0.1 billion).
The February 2010 to February 2011 increase in exports of goods reflected increases in
industrial supplies and materials ($9.6 billion); capital goods ($4.0 billion); foods,
feeds, and beverages ($1.9 billion); automotive vehicles, parts, and engines ($1.0 billion);
and consumer goods ($0.8 billion). Other goods were virtually unchanged.
The February 2010 to February 2011 increase in imports of goods reflected increases in
industrial supplies and materials ($9.2 billion); consumer goods ($5.7 billion); capital
goods ($5.7 billion); automotive vehicles, parts, and engines ($3.3 billion); and foods,
feeds, and beverages ($1.4 billion). A decrease occurred in other goods ($0.3 billion).
Services
Services exports were virtually unchanged from January to February. An increase in other
private services (which includes items such as business, professional, and technical services,
insurance services, and financial services) was partly offset by a decrease in other
transportation (which includes freight and port services). Changes in the other categories
of services exports were small.
Services imports decreased $0.2 billion from January to February. The decrease was more than
accounted for by decreases in other transportation and travel. An increase in other private
services was partly offsetting. Changes in the other categories of services imports were
small.
The February 2010 to February 2011 increase in exports of services was $2.9 billion. The
largest increases were in other private services ($1.8 billion), travel ($0.6 billion), and
passenger fares ($0.3 billion). Within other private services, the largest increases were
in business, professional, and technical services and financial services.
The February 2010 to February 2011 increase in imports of services was $1.1 billion. The
largest increases were in other private services ($1.0 billion), other transportation
($0.3 billion), and passenger fares ($0.3 billion). Within other private services, the
largest increases were in insurance services and business, professional, and technical
services.
Goods and Services Moving Average
For the three months ending in February, exports of goods and services averaged $165.3
billion, while imports of goods and services averaged $209.7 billion, resulting in an average
trade deficit of $44.3 billion. For the three months ending in January, the average trade
deficit was $41.8 billion, reflecting average exports of $163.7 billion and average imports
of $205.5 billion.
Selected Not Seasonally Adjusted Goods Details
The February figures show surpluses, in billions of dollars, with Hong Kong $2.5 ($2.2 for
January), Australia $1.4 ($1.2), Singapore $0.8 ($0.8), and Egypt $0.5 ($0.5). Deficits were
recorded, in billions of dollars, with China $18.8 ($23.3), OPEC $9.4 ($9.9), European Union
$6.9 ($5.6), Mexico $5.3 ($4.9), Japan $5.2 ($5.0), Germany $3.3 ($3.1), Canada $2.9 ($3.8),
Ireland $2.6 ($1.9), Nigeria $2.5 ($2.9), Venezuela $2.1 ($2.8), Taiwan $0.9 ($0.9), and
Korea $0.8 ($1.0).
Advanced technology products exports were $21.0 billion in February and imports were $26.9
billion, resulting in a deficit of $5.9 billion. February exports were $0.1 billion less
than the $21.1 billion in January, while February imports were $1.3 billion less than the
$28.3 billion in January.
Revisions (Goods on a Census basis, not seasonally adjusted)
For January, goods exports were revised down $0.1 billion and imports were revised up $0.5
billion. Goods carry-over in February was $0.1 billion (0.1 percent) for exports and $1.4
billion (0.9 percent) for imports. For January, revised export carry-over was virtually
unchanged at $0.1 billion (0.1 percent). For January, revised import carry-over was $0.3
billion (0.2 percent), revised down from $0.6 billion (0.3 percent).
Services exports for January were revised down $0.1 billion to $47.1 billion, mostly
reflecting a downward revision in travel. Services imports for January were virtually
unrevised at $33.8 billion.
