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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
                                          December 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 December exports of $191.3 billion and imports of $230.0 billion resulted
in a goods and services deficit of $38.7 billion, up from $34.6 billion in November, revised.
December exports were $3.5 billion less than November exports of $194.8 billion. December imports
were $0.6 billion more than November imports of $229.4 billion.

In December, the goods deficit increased $4.6 billion from November to $58.8 billion, and the services
surplus increased $0.4 billion from November to $20.1 billion. Exports of goods decreased $4.3 billion
to $132.8 billion, and imports of goods increased $0.3 billion to $191.6 billion. Exports of services
increased $0.8 billion to $58.5 billion, and imports of services increased $0.3 billion to $38.4
billion.

The goods and services deficit increased $0.4 billion from December 2012 to December 2013. Exports
were up $2.6 billion, or 1.4 percent, and imports were up $3.0 billion, or 1.3 percent.

Goods (Census Basis)

The November to December decrease in exports of goods reflected decreases in industrial supplies
and materials ($1.1 billion); capital goods ($1.1 billion); other goods ($0.9 billion); automotive
vehicles, parts, and engines ($0.8 billion); and consumer goods ($0.7 billion). An increase
occurred in foods, feeds, and beverages ($0.4 billion).

The November to December increase in imports of goods reflected increases in consumer goods
($0.7 billion), industrial supplies and materials ($0.5 billion), and other goods ($0.3 billion).
Decreases occurred in automotive vehicles, parts, and engines ($0.9 billion); capital goods
($0.3 billion); and foods, feeds, and beverages ($0.1 billion).

The December 2012 to December 2013 increase in exports of goods reflected increases in foods,
feeds, and beverages ($1.8 billion); capital goods ($0.4 billion); automotive vehicles, parts,
and engines ($0.2 billion); and consumer goods ($0.1 billion).  Decreases occurred in industrial
supplies and materials ($1.5 billion) and other goods ($0.9 billion).

The December 2012 to December 2013 increase in imports of goods reflected increases in capital
goods ($1.7 billion); automotive vehicles, parts, and engines ($1.3 billion); consumer goods
($1.0 billion); other goods ($0.3 billion); and foods, feeds, and beverages ($0.2 billion). A
decrease occurred in industrial supplies and materials ($2.9 billion).

Services

Exports of services increased $0.8 billion from November to December. The increase was accounted
for by increases in travel ($0.5 billion), in passenger fares ($0.2 billion), and in other
transportation ($0.1 billion), which includes freight and port services. Changes in the other
categories of services exports were relatively small and offsetting.

Imports of services increased $0.3 billion from November to December. Increases in travel
($0.3 billion) and in passenger fares ($0.2 billion) were partly offset by a decrease in other
transportation ($0.2 billion). Changes in the other categories of services imports were
relatively small and mostly offsetting.

The December 2012 to December 2013 increase in exports of services was $2.5 billion or 4.5 percent.
The largest increases were in travel ($1.3 billion), in royalties and license fees ($0.6 billion),
and in passenger fares ($0.4 billion).

The December 2012 to December 2013 increase in imports of services was $1.3 billion or 3.5 percent.
The largest increases were in travel ($0.7 billion), in passenger fares ($0.6 billion), and in
other transportation ($0.2 billion). The largest decrease was in direct defense expenditures
($0.2 billion).

Goods and Services Moving Average

For the three months ending in December, exports of goods and services averaged $193.1 billion,
while imports of goods and services averaged $230.6 billion, resulting in an average trade deficit
of $37.4 billion. For the three months ending in November, the average trade deficit was $38.8 billion,
reflecting average exports of $192.5 billion and average imports of $231.3 billion.

Selected Not Seasonally Adjusted Goods Details

The December figures show surpluses, in billions of dollars, with Hong Kong $3.3 ($2.9 for November),
Australia $1.6 ($1.2), Brazil $1.5 ($1.1), and Singapore $1.2 ($1.2). Deficits were recorded, in
billions of dollars, with China $24.5 ($26.9), European Union $11.3 ($10.1), Japan $6.0 ($5.8),
Germany $5.9 ($5.9), Mexico $4.2 ($4.1), OPEC $4.0 ($4.8), Canada $3.4 ($1.5), Saudi Arabia $2.8
($2.9), Ireland $1.8 ($1.8), Venezuela $1.6 ($1.5), India $1.5 ($1.0), and Korea $0.8 ($1.2).

Advanced technology products exports were $28.2 billion in December and imports were $34.2 billion,
resulting in a deficit of $6.0 billion. December exports were $0.2 billion more than the $28.0
billion in November, while December imports were $3.1 billion less than the $37.3 billion in November.

Revisions

In addition to revisions to source data for the November statistics, the seasonally adjusted goods
data were revised for January through November so that the total of the seasonally adjusted months
equals the annual totals.

Census Basis (not seasonally adjusted)

For November, exports of goods were revised down $0.2 billion and imports of goods were revised
up $0.3 billion. Goods carry-over in December was $0.1 billion (0.1 percent) for exports and $1.8
billion (1.0 percent) for imports. For November, revised export carry-over was virtually zero,
while revised import carry-over was $0.1 billion (0.1 percent).

Balance of Payments Basis (seasonally adjusted)

For November, exports of goods were virtually unrevised and imports of goods were revised up
$0.3 billion.

For November, both exports and imports of services were virtually unrevised.

Annual Summary for 2013

Goods and Services

For 2013, exports of $2,272.3 billion and imports of $2,743.9 billion resulted in a goods and
services deficit of $471.5 billion, $63.1 billion less than the 2012 deficit of $534.7 billion.
For goods, exports were $1,590.4 billion and imports were $2,293.5 billion, resulting in a goods
deficit of $703.2 billion, $38.3 billion less than the 2012 deficit of $741.5 billion.  For services,
exports were $682.0 billion and imports were $450.3 billion, resulting in a services surplus of
$231.6 billion, $24.8 billion more than the 2012 surplus of $206.8 billion.

As a percentage of U.S. gross domestic product, the goods and services deficit was 2.8 percent
in 2013, down from 3.3 percent in 2012.

Goods (Census basis)

For 2013, exports of goods were up $33.2 billion from 2012. Increases occurred in industrial
supplies and materials ($7.1 billion); consumer goods ($6.8 billion); capital goods ($6.7 billion);
automotive vehicles, parts, and engines ($6.0 billion); other goods ($3.4 billion); and foods,
feeds, and beverages ($3.2 billion).

For 2013, imports of goods were down $7.8 billion from 2012. A decrease occurred in industrial
supplies and materials ($49.0 billion). Increases occurred in consumer goods ($16.8 billion);
automotive vehicles, parts, and engines ($11.0 billion); capital goods ($5.2 billion); foods,
feeds, and beverages ($4.9 billion); and other goods ($3.2 billion).

Services

For 2013, exports of services were $682.0 billion, up $32.6 billion, or 5.0 percent, from 2012.
Increases occurred in travel ($13.3 billion), in other private services ($9.4 billion), which
includes items such as business, professional, and technical services, insurance services, and
financial services, in royalties and license fees ($5.5 billion), in passenger fares ($1.8 billion),
in other transportation ($1.3 billion), which includes freight and port services, in transfers
under U.S. military sales contracts ($1.1 billion), and in U.S. government miscellaneous services
($0.2 billion).  Within other private services, the largest increase was in financial services.

For 2013, imports of services were $450.3 billion, up $7.8 billion, or 1.8 percent, from 2012.
Increases occurred in other transportation ($3.4 billion), in travel ($2.8 billion), in passenger
fares ($2.8 billion), and in royalties and license fees ($1.8 billion). Decreases occurred in
direct defense expenditures ($2.6 billion), in U.S. government miscellaneous services ($0.4 billion),
and in other private services ($0.1 billion).  Within other private services, the largest decrease
was in insurance services.

For detailed descriptions of the types of transactions included in each of the services categories,
see "Information on Goods and Services" starting on page A-1 of this release.

NOTICE

Seasonally Adjusted Countries and Areas

With the release of January 2014 statistics on March 7, 2014, the "U.S. International Trade in
Goods and Services" report (FT-900) will include a new exhibit containing monthly and quarterly
seasonally adjusted trade in goods on a Census basis for selected major trading partner countries
and areas.  An example of the new exhibit is available at
(www.census.gov/foreign-trade/statistics/notices/20130412_countryseasonals.html).

With the release of April 2014 statistics on June 4, 2014, the FT-900 will include an additional
new exhibit that presents quarterly seasonally adjusted trade in goods and services on a balance
of payments basis for the same countries and areas. An example of this exhibit will be made
available at a later date.

Entry of Latvia into the Euro Area

Beginning with the January 2014 statistics scheduled for release on March 7, 2014, the Euro Area
will be expanded to reflect the entry of Latvia on January 1, 2014.  This change will affect Exhibit
14 of the FT-900 and Exhibit 6 of the FT-900 Supplement.

If you have questions or need additional information, please contact the Data Dissemination
Branch of the U.S. Census Bureau's Foreign Trade Division on (301) 763-2311 or at
(ftd.data.dissemination@census.gov).