News Release
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U.S. International Trade in Goods and Services, September 2013
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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 September 2013 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 $188.9 billion and imports of $230.7 billion resulted in a goods and services deficit of $41.8 billion, up from $38.7 billion in August, revised. September exports were $0.4 billion less than August exports of $189.3 billion. September imports were $2.7 billion more than August imports of $228.0 billion. In September, the goods deficit increased $3.0 billion from August to $61.3 billion, and the services surplus decreased $0.1 billion from August to $19.5 billion. Exports of goods decreased $0.2 billion to $132.1 billion, and imports of goods increased $2.8 billion to $193.4 billion. Exports of services decreased $0.2 billion to $56.8 billion, and imports of services decreased $0.1 billion to $37.3 billion. The goods and services deficit increased $0.2 billion from September 2012 to September 2013. Exports were up $2.1 billion, or 1.1 percent, and imports were up $2.3 billion, or 1.0 percent. Goods (Census Basis) The August to September decrease in exports of goods reflected decreases in industrial supplies and materials ($1.3 billion), other goods ($0.2 billion), consumer goods ($0.2 billion), and capital goods ($0.1 billion). An increase occurred in foods, feeds, and beverages ($1.4 billion). Automotive vehicles, parts, and engines were virtually unchanged. The August to September increase in imports of goods reflected increases in industrial supplies and materials ($0.9 billion); automotive vehicles, parts, and engines ($0.9 billion); capital goods ($0.8 billion); and consumer goods ($0.6 billion). A decrease occurred in other goods ($0.4 billion). Foods, feeds, and beverages were virtually unchanged. The September 2012 to September 2013 decrease in exports of goods reflected decreases in industrial supplies and materials ($0.9 billion); foods, feeds, and beverages ($0.8 billion); and other goods ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($1.2 billion) and consumer goods ($0.1 billion). Capital goods were virtually unchanged. The September 2012 to September 2013 increase in imports of goods reflected increases in automotive vehicles, parts, and engines ($2.7 billion); capital goods ($1.4 billion); foods, feeds, and beverages ($0.3 billion); and consumer goods ($0.1 billion). Decreases occurred in industrial supplies and materials ($2.5 billion) and other goods ($0.1 billion). Services Exports of services decreased $0.2 billion from August to September. A decrease in travel ($0.3 billion) was partly offset by an increase in other transportation ($0.1 billion), which includes freight and port services. Changes in the other categories of services exports were relatively small and mostly offsetting. Imports of services decreased $0.1 billion from August to September, reflecting a decrease in travel ($0.2 billion). Changes in the other categories of services imports were relatively small. The September 2012 to September 2013 increase in exports of services was $2.7 billion or 5.0 percent. The largest increases were in other private services ($1.0 billion), which includes items such as business, professional, and technical services, insurance services, and financial services, in travel ($0.6 billion), and in royalties and license fees ($0.5 billion). Within other private services, the largest increase was in business, professional, and technical services. The September 2012 to September 2013 increase in imports of services was $0.5 billion or 1.5 percent. The largest increases were in royalties and license fees ($0.5 billion) and in other transportation ($0.3 billion). The largest decrease was in other private services ($0.5 billion). Within other private services, the largest decrease was in insurance services. Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $189.2 billion, while imports of goods and services averaged $228.9 billion, resulting in an average trade deficit of $39.7 billion. For the three months ending in August, the average trade deficit was $37.3 billion, reflecting average exports of $189.7 billion and average imports of $227.0 billion. Selected Not Seasonally Adjusted Goods Details The September figures show surpluses, in billions of dollars, with Hong Kong $3.2 ($3.7 for August), Australia $1.5 ($1.4), Singapore $1.3 ($1.1), and Brazil $1.0 ($1.7). Deficits were recorded, in billions of dollars, with China $30.5 ($29.9), European Union $8.0 ($9.8), Germany $6.1 ($5.4), OPEC $5.9 ($7.3), Japan $5.5 ($6.4), Mexico $5.3 ($4.9), Canada $3.2 ($2.4), Saudi Arabia $3.2 ($3.6), Korea $2.1 ($1.7), Ireland $1.8 ($1.9), India $1.7 ($1.6), and Venezuela $1.3 ($1.5). Advanced technology products exports were $26.6 billion in September and imports were $34.7 billion, resulting in a deficit of $8.1 billion. September exports were $0.1 billion less than the $26.7 billion in August, while September imports were $2.2 billion more than the $32.6 billion in August. Revisions Census Basis (not seasonally adjusted) For August, exports of goods were revised down $0.1 billion and imports of goods were virtually unrevised. Goods carry-over in September was $0.2 billion (0.1 percent) for exports and $1.2 billion (0.6 percent) for imports. For August, revised export carry-over was virtually zero and revised import carry-over was $0.3 billion (0.2 percent). Balance of Payments Basis (seasonally adjusted) For August, exports of goods were revised down $0.1 billion and imports of goods were revised down $0.1 billion. For August, exports of services were revised up $0.2 billion, reflecting upward revisions in travel and in passenger fares. For August, imports of services were virtually unrevised. NOTICE Preliminary Profile of U.S. Exporting Companies On December 4, the U.S. Census Bureau will publish the release "Preliminary Profile of U.S. Exporting Companies, 2012." This release will feature national level aggregate data on U.S. exports by company type and size. An example of the layout of this release is available at www.census.gov/foreign-trade/2012prelimprofile.html. All data in this release will be revised with the release of "U.S. Profile of Importing and Exporting Companies, 2011-2012" on April 3, 2014. If you have any questions or need additional information, please contact the Special Projects Branch of the U.S. Census Bureau's Foreign Trade Division on (301) 763-3629 or at ftd.profile.list@census.gov.