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
July 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 July exports of $178.0 billion and imports of $222.8 billion
resulted in a goods and services deficit of $44.8 billion, down from $51.6 billion in June,
revised. July exports were $6.2 billion more than June exports of $171.8 billion. July imports
were $0.5 billion less than June imports of $223.4 billion.
In July, the goods deficit decreased $6.4 billion from June to $60.6 billion, and the services
surplus increased $0.4 billion to $15.8 billion. Exports of goods increased $5.7 billion to
$126.9 billion, and imports of goods decreased $0.7 billion to $187.5 billion. Exports of
services increased $0.5 billion to $51.1 billion, and imports of services increased $0.1 billion
to $35.3 billion.
The goods and services deficit increased $3.2 billion from July 2010 to July 2011. Exports were
up $23.4 billion, or 15.1 percent, and imports were up $26.6 billion, or 13.6 percent.
Goods (Census Basis)
The June to July increase in exports of goods reflected increases in industrial supplies and
materials ($2.7 billion); capital goods ($2.2 billion); automotive vehicles, parts, and engines
($1.3 billion); and other goods ($0.2 billion). A decrease occurred in consumer goods
($0.6 billion). Foods, feeds, and beverages were virtually unchanged.
The June to July decrease in imports of goods reflected decreases in industrial supplies and
materials ($2.5 billion); other goods ($1.0 billion); and foods, feeds, and beverages
($0.3 billion). Increases occurred in automotive vehicles, parts, and engines ($2.9 billion);
capital goods ($0.3 billion); and consumer goods ($0.1 billion).
The July 2010 to July 2011 increase in exports of goods reflected increases in industrial supplies
and materials ($9.6 billion); capital goods ($3.4 billion); automotive vehicles, parts, and
engines ($2.7 billion); foods, feeds, and beverages ($2.0 billion); and consumer goods
($0.8 billion). A decrease occurred in other goods ($0.5 billion).
The July 2010 to July 2011 increase in imports of goods reflected increases in industrial supplies
and materials ($13.0 billion); capital goods ($5.6 billion); automotive vehicles, parts, and
engines ($2.9 billion); consumer goods ($2.2 billion); and foods, feeds, and beverages
($1.2 billion). Other goods were virtually unchanged.
Services
Exports of services increased $0.5 billion from June to July. The increase was mostly accounted
for by increases in travel, passenger fares, and other transportation (which includes freight
and port services). A decrease in transfers under U.S. military sales contracts was partly
offsetting. Changes in the other categories of services exports were small.
Imports of services increased $0.1 billion from June to July. The increase was more than accounted
for by increases in travel and passenger fares. Changes in the other categories of services
imports were small.
The July 2010 to July 2011 increase in exports of services was $4.7 billion. The largest increases
were in other private services ($2.2 billion), which includes items such as business, professional,
and technical services, insurance services, and financial services, travel ($1.3 billion), and
royalties and license fees ($0.7 billion). Within other private services, the largest increase
was in business, professional, and technical services.
The July 2010 to July 2011 increase in imports of services was $1.0 billion. The largest increases
were in travel ($0.4 billion), royalties and license fees ($0.3 billion), and passenger fares
($0.3 billion).
Goods and Services Moving Average
For the three months ending in July, exports of goods and services averaged $175.2 billion, while
imports of goods and services averaged $224.0 billion, resulting in an average trade deficit of
$48.9 billion. For the three months ending in June, the average trade deficit was $48.3 billion,
reflecting average exports of $174.6 billion and average imports of $222.9 billion.
Selected Not Seasonally Adjusted Goods Details
The July figures show surpluses, in billions of dollars, with Hong Kong $2.3 ($2.4 for June),
Australia $1.7 ($1.4), Singapore $1.2 ($1.0), and Egypt $0.4 ($0.3). Deficits were recorded,
in billions of dollars, with China $27.0 ($26.7), OPEC $11.9 ($13.8), European Union $8.9 ($9.8),
Japan $5.3 ($4.0), Mexico $4.9 ($6.4), Germany $4.2 ($4.0), Canada $3.2 ($2.8), Nigeria $2.8
($3.0), Ireland $2.7 ($2.8), Venezuela $2.6 ($3.3), Taiwan $1.6 ($1.8), and Korea $1.4 ($1.6).
Advanced technology products exports were $23.6 billion in July and imports were $32.7 billion,
resulting in a deficit of $9.1 billion. July exports were $1.1 billion less than the $24.7
billion in June, while July imports were $0.8 billion less than the $33.5 billion in June.
Revisions
Census Basis (not seasonally adjusted)
For June, exports of goods were virtually unrevised and imports of goods were revised down $0.5
billion. Goods carry-over in July was $0.2 billion (0.2 percent) for exports and $1.0 billion
(0.6 percent) for imports. For June, revised export carry-over was $0.1 billion (0.1 percent),
revised down from $0.2 billion (0.2 percent). For June, revised import carry-over was $0.3
billion (0.2 percent), revised down from $1.7 billion (0.9 percent).
Balance of Payments Basis (seasonally adjusted)
Exports and imports of goods for January 2011 through June 2011 reflect the incorporation of
more comprehensive and revised quarterly and monthly data. For June, exports were virtually
unrevised and imports were revised down $0.6 billion.
Exports and imports of services for January 2011 through June 2011 reflect the incorporation of
more comprehensive and revised quarterly and monthly data. For exports of services, the largest
revisions were in royalties and license fees. For imports of services, upward revisions in
royalties and license fees and travel were mostly offset by downward revisions in other private
services.
Exports of services for June were revised up $1.0 billion to $50.6 billion, mostly reflecting
upward revisions in royalties and license fees, travel, and passenger fares. Imports of services
for June were virtually unrevised at $35.2 billion; upward revisions in most categories were
offset by a downward revision in other private services.
NOTICE
Addition of South Sudan
Effective with the release of August 2011 statistics on October 13, 2011, the U.S. International
Trade in Goods and Services report will be revised to reflect South Sudan as an independent country.
Sudan and South Sudan will be listed individually in exhibit 6 of the FT-900 supplement.
If you have any questions or need additional information, please contact the Data Dissemination
Branch office on 1-800-549-0595, option 4; 301-763-2311; or email at
ftd.data.dissemination@census.gov.
