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News Release: U.S. International Trade in Goods and Services

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Note:   Revisions to trade in services.
                            U.S. Census Bureau
                      U.S. Bureau of Economic Analysis
                                    NEWS
            U.S. Department of Commerce  Washington, D.C. 20230

                            FOR IMMEDIATE RELEASE
                      8:30 A.M. EDT FRIDAY, MAY 12, 2006

CB06-74
BEA06-19
FT-900 (06-03)

For information on goods contact:
U.S. Census Bureau:
Nick Orsini    (301) 763-6959
Vanessa Ware   (301) 763-2311

For information on services contact:
U.S. Bureau of Economic Analysis:
Technical: Christopher Bach   (202) 606-9545
Media:     Ralph Stewart      (202) 606-2649

               U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                                March 2006

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 March exports of $114.7 billion and imports of
$176.7 billion resulted in a goods and services deficit of $62.0 billion, $3.6 billion
less than the $65.6 billion in February, revised.  March exports were $2.1 billion
more than February exports of $112.5 billion.  March imports were $1.5 billion less
than February imports of $178.2 billion.

In March, the goods deficit decreased $3.1 billion from February to $66.7 billion, and
the services surplus increased $0.5 billion to $4.7 billion.  Exports of goods
increased $1.7 billion to $82.1 billion, and imports of goods decreased $1.4 billion
to $148.8 billion.  Exports of services increased $0.4 billion to $32.6 billion, and
imports of services decreased $0.1 billion to $27.8 billion.

In March, the goods and services deficit was up $8.3 billion from March 2005.  Exports
were up $11.9 billion, or 11.6 percent, and imports were up $20.2 billion, or 12.9
percent.

Goods

The February to March change in exports of goods reflected increases in industrial
supplies and materials ($1.2 billion); capital goods ($0.5 billion);  foods, feeds,
and beverages ($0.2 billion); and consumer goods ($0.2 billion).  A decrease occurred
in automotive vehicles, parts, and engines ($0.4 billion).  Other goods were virtually
unchanged.

The February to March change in imports of goods reflected decreases in industrial
supplies and materials ($3.3 billion) and automotive vehicles, parts, and engines
($0.8 billion).  Increases occurred in capital goods ($1.5 billion); consumer goods
($0.9 billion); and foods, feeds, and beverages ($0.3 billion).  Other goods were
virtually unchanged.

The March 2005 to March 2006 change in exports of goods reflected increases in capital
goods ($4.6 billion); industrial supplies and materials ($3.3 billion); consumer goods
($1.1 billion); automotive vehicles, parts, and engines ($0.9 billion); foods, feeds,
and beverages ($0.5 billion); and other goods ($0.3 billion).

The March 2005 to March 2006 change in imports of goods reflected increases in
industrial supplies and materials ($6.8 billion); capital goods ($4.5 billion);
consumer goods ($4.2 billion); automotive vehicles, parts, and engines ($2.2 billion);
foods, feeds, and beverages ($0.8 billion); and other goods ($0.4 billion).

Services

Services exports increased $0.4 billion from February to March.  The largest increases
were in other private services (which includes items such as business, professional,
and technical services, insurance services, and financial services) and travel.
Changes in other categories of services exports were small.

Services imports decreased $0.1 billion from February to March.  The decrease was more
than accounted for by a decrease in royalties and license fees, which had been boosted
in February by payments for broadcast rights for the 2006 Winter Olympic Games.  All
other categories of services imports increased.

From March 2005 to March 2006, services exports increased $1.2 billion.  The largest
increases were in other private services ($1.2 billion) and other transportation, which
includes freight and port services ($0.3 billion).

From March 2005 to March 2006, services imports increased $1.4 billion.  The largest
increases were in other private services ($1.0 billion), other transportation ($0.3
billion), and passenger fares ($0.2 billion).

Goods and Services Moving Average

For the three months ending in March, exports of goods and services averaged $113.8
billion, while imports of goods and services averaged $179.2 billion, resulting in an
average trade deficit of $65.4 billion.  For the three months ending in February, the
average trade deficit was $66.4 billion, reflecting average exports of $112.8 billion
and average imports of $179.2 billion.

Selected Not Seasonally Adjusted Goods Details

The March figures showed surpluses, in billions of dollars, with Hong Kong $1.0 ($0.6
for February), Australia $0.7 ($0.7), Singapore $0.5 ($0.5), and Egypt $0.2 ($0.1).
Deficits were recorded, in billions of dollars, with China $15.6 ($13.8 ), Europe
$11.2 ($9.8), the European Union $10.1 ($8.3), OPEC $8.1 ($7.3), Japan $7.6 ($7.1),
Mexico $5.4 ($4.7), Canada $5.4 ($7.2), Taiwan $1.2 ($1.0), Korea $0.7 ($1.2), and
Brazil $0.7 ($0.6).

Advanced technology products (ATP) exports were $22.9 billion in March and imports
were $25.3 billion, resulting in a deficit of $2.5 billion.  March exports were
$4.5 billion more than the $18.4 billion in February, while imports were $5.5 billion
more than the $19.8 billion in February.

Revisions

Goods carry-over in March was $0.2 billion (0.2  percent) for exports and $0.6 billion
(0.4 percent) for imports.  For February, revised export carry-over was $0.1 billion
(0.2 percent), revised down from $0.4 billion (0.5 percent).  For February, revised
import carry-over was $0.5 billion (0.3 percent), revised down from $1.2 billion
(0.9 percent).

Services exports for February were revised down $0.4 billion to $32.1 billion; the
revision was more than accounted for by downward revisions in travel and passenger fares.
Services imports for February were revised down $0.2 billion to $28.0 billion; the
revision was more than accounted for by downward revisions in travel and passenger fares.