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
                                        October 2014

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce,
announced today that the goods and services deficit was $43.4 billion in October, down $0.2 billion
from $43.6 billion in September, revised. October exports were $197.5 billion, $2.3 billion more
than September exports. October imports were $241.0 billion, $2.1 billion more than September imports.

The October decrease in the goods and services deficit reflected a decreasein the goods deficit
of less than $0.1 billion to $62.7 billion and an increase in the services surplus of$0.1 billion
to $19.2 billion.

Year-to-date, the goods and services deficit increased $20.5 billion, or 5.1 percent, from the
same period in 2013. Exports increased $57.8 billion or 3.1 percent. Imports increased $78.3 billion
or 3.4 percent.

Goods and Services Three-Month Moving Averages (Exhibit 2)

The average goods and services deficit increased $0.9 billion to $42.4 billion for the three months
ending in October.

   * Average exports of goods and services decreased $0.2 billion to $197.2 billion in October.
   * Average imports of goods and services increased $0.7 billion to $239.5 billion in October.

Year-over-year, the average goods and services deficit increased $2.1 billion from the three months
ending in October 2013.

   * Average exports of goods and services increased $5.6 billion from October 2013.
   * Average imports of goods and services increased $7.6 billion from October 2013.

Exports (Exhibits 3, 6, and 7)

Exports of goods increased $2.0 billion to $138.0 billion in October.
   Exports of goods on a Census basis increased $1.9 billion.
      * Capital goods increased $1.7 billion.
         o Civilian aircraft increased $1.0 billion.
         o Generators, transformers, and accessories increased $0.3 billion.
   Net balance of payments adjustments increased $0.1 billion.

Exports of services increased $0.3 billion to $59.5 billion in October. The increase reflected
increases in financial services ($0.1 billion), in maintenance and repair services ($0.1 billion),
and in charges for the use of intellectual property ($0.1 billion).

Imports (Exhibits 4, 6, and 8)

Imports of goods increased $2.0 billion to $200.7 billion in October.
   Imports of goods on a Census basis increased $2.0 billion.
      * Automotive vehicles, parts, and engines increased $1.3 billion.
         o Trucks, buses, and special purpose vehicles increased $0.5 billion.
         o Passenger cars increased $0.4 billion.
      * Capital goods increased $1.1 billion.
   Net balance of payments adjustments decreased less than $0.1 billion.

Imports of services increased $0.2 billion to $40.3 billion in October. The increase mostly reflected
an increase in transport ($0.1 billion), which includes freight and port services and passenger
fares.

Real Goods in 2009 Dollars  Census Basis (Exhibit 11)

The real goods deficit decreased less than $0.1 billion to $50.8 billion in October.

   * Real exports of goods increased $2.9 billion to $123.7 billion.
   * Real imports of goods increased $2.9 billion to $174.5 billion.

Revisions

For April 2014 through September 2014, exports and imports of goods and services were revised to
incorporate more comprehensive and updated quarterly and monthly data.

Revisions to September exports
   * Exports of goods were revised downward less than $0.1 billion.
   * Exports of services were revised downward $0.3 billion.

Revisions to September imports
   * Imports of goods were revised downward less than $0.1 billion.
   * Imports of services were revised upward $0.2 billion.

Goods by Selected Countries and Areas: Monthly  Census Basis (Exhibit 19)

The October figures show surpluses, in billions of dollars, with South and Central America ($2.3),
Brazil ($0.8), and  United Kingdom ($0.3). Deficits were recorded, in billions of dollars, with
China ($29.6), European Union ($11.2), Germany ($6.3), Japan ($5.9), Mexico ($5.4), Canada ($3.0),
South Korea ($2.4), OPEC ($2.2), Italy ($2.2), India ($2.0), Saudi Arabia ($1.2), and France ($1.0).

   * The deficit with China decreased $1.6 billion to $29.6 billion in October. Exports increased
     $1.6 billion to $11.4 billion and imports decreased $0.1 billion to $40.9 billion.
   * The deficit with the European Union decreased $1.2 billion to $11.2 billion in October. Exports
     increased $0.8 billion to $22.9 billion and imports decreased $0.4 billion to $34.2 billion.

Goods and Services by Selected Countries and Areas: Quarterly  Balance of Payments Basis (Exhibit 20)

The third quarter figures show surpluses, in billions of dollars, with South and Central America
($17.3), Brazil ($7.7), and United Kingdom ($5.0). Deficits were recorded, in billions of dollars,
with China ($80.4), European Union ($21.9), Germany ($20.6), Mexico ($13.2), Japan ($12.5), India
($7.3), Italy ($6.7), OPEC ($5.1), Saudi Arabia ($3.8), South Korea ($3.3), Canada ($2.9), and
France ($2.5).

   * The deficit with Saudi Arabia decreased $2.9 billion to $3.8 billion in the third quarter.
     Exports increased $0.1 billion to $6.8 billion and imports decreased $2.7 billion to $10.6
     billion.
   * The surplus with the United Kingdom increased $2.0 billion to $5.0 billion in the third quarter.
     Exports increased $1.2 billion to $30.8 billion and imports decreased $0.8 billion to $25.8
     billion.

NOTICE

Changes to Release Text

Beginning with this release of the U.S. International Trade in Goods and Services report (FT-900),
the release text has been reorganized and streamlined to improve readability. With this change,
the release text presents only seasonally adjusted data. Other changes include:

Reorganized
   * The discussion of the three-month moving average trade balance and the associated graph are
     presented on the first page of the release.
   * The discussion of goods and services trade details has been integrated and is presented in
     new sections on total exports and total imports.

Added
   * Additional information for goods on a Census basis by detailed end-use commodity.
   * A new section on real goods trade.
   * A new section on quarterly goods and services trade by selected countries and areas, which
     is included only with the releases of January, April, July, and October statistics.

Removed
   * Detail on revisions to not seasonally adjusted goods on a Census basis; this detail is available
     on page A-1 of the information section.
   * The discussion of advanced technology products; this information is available in Exhibits
     16 and 16a.

Upcoming Changes to the FT-900 and the FT-900 Supplement

With the release of the FT-900 and the accompanying FT-900 Supplement on March 6, 2015, the following
changes will be made:

   * Exhibit 3 of the FT-900 Supplement, General Imports of Crude Oil by Country, will be moved
     to the FT-900 and will be numbered Exhibit 17a. The content of this exhibit will not change.
   * Exhibit 4 of the FT-900 Supplement, Exports and Imports of Goods by SITC Commodity Sections,
     will be eliminated because the data in this exhibit are available in Exhibit 15 of the FT-900.
   * Exhibits 5, 6, and 6a of the FT-900 Supplement will be renumbered Exhibits 3, 4, and 4a, respectively.

If you have questions or need additional information, please contact the International Trade Indicator
Macro Analysis Branch of the U.S. Census Bureaus Economic Indicators Division on (301) 763-2311
or at ftd.data.dissemination@census.gov.