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

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                               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 TUESDAY, SEPTEMBER 12, 2006

CB06-139
BEA06-39
FT-900 (06-07)

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
                                July 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 July exports of $120.0 billion and imports
of $188.0 billion resulted in a goods and services deficit of $68.0 billion, $3.2
billion more than the $64.8 billion in June, revised.  July exports were $1.3 billion
less than June exports of $121.2 billion.  July imports were $1.9 billion more than
June imports of $186.1 billion.

In July, the goods deficit increased $3.4 billion from June to $73.4 billion, and
the services surplus increased $0.2 billion to $5.4 billion.  Exports of goods
decreased $1.3 billion to $85.7 billion, and imports of goods increased $2.1 billion
to $159.1 billion.  Exports of services were virtually unchanged at $34.3 billion,
and imports of services decreased $0.2 billion to $28.9 billion.

In July, the goods and services deficit was up $10.0 billion from July 2005.
Exports were up $13.4 billion, or 12.6 percent, and imports were up $23.4 billion,
or 14.2 percent.

Goods

The June to July change in exports of goods reflected decreases in capital goods
($1.3 billion), industrial supplies and materials ($0.6 billion), and other goods
($0.1 billion).  Increases occurred in automotive vehicles, parts, and engines
($0.7 billion) and consumer goods ($0.2 billion).  Foods, feeds, and beverages
were virtually unchanged.

The June to July change in imports of goods reflected increases in industrial
supplies and materials ($2.2 billion); capital goods ($0.8 billion); foods, feeds,
and beverages ($0.2 billion); and consumer goods ($0.2 billion).  Decreases
occurred in automotive vehicles, parts, and engines ($1.2 billion) and other goods
($0.1 billion).

The July 2005 to July 2006 change in exports of goods reflected increases in
industrial supplies and materials ($3.5 billion); capital goods ($3.4 billion);
consumer goods ($1.4 billion); automotive vehicles, parts, and engines
($1.3 billion);  foods, feeds, and beverages ($0.8 billion); and other goods
($0.8 billion).

The July 2005 to July 2006 change in imports of goods reflected increases in
industrial supplies and materials ($11.5 billion); capital goods ($3.7 billion);
consumer goods ($3.5 billion); automotive vehicles, parts, and engines
($1.2 billion); foods, feeds, and beverages ($0.6 billion); and other goods
($0.2 billion).

Services

Services exports were virtually unchanged from June to July.  Changes in the
categories of services exports were small and nearly offsetting.

Services imports decreased $0.2 billion from June to July.  Decreases in royalties
and license fees and passenger fares were partly offset by an increase in other
private services (which includes items such as business, professional, and
technical services, insurance services, and financial services).  Changes in other
categories of services imports were small.

From July 2005 to July 2006, services exports increased $2.6 billion.  The largest
increases were in other private services ($1.6 billion), other transportation,
which includes freight and port services ($0.6 billion), and royalties and license
fees ($0.5 billion).

From July 2005 to July 2006, services imports increased $2.7 billion.  The largest
increases were in other private services ($1.4 billion), other transportation
($0.5 billion), and travel ($0.4 billion).

Goods and Services Moving Average

For the three months ending in July, exports of goods and services averaged $119.9
billion, while imports of goods and services averaged $186.0 billion, resulting in
an average trade deficit of $66.1 billion.  For the three months ending in June,
the average trade deficit was $64.6 billion, reflecting average exports of $118.6
billion and average imports of $183.2 billion.

Selected Not Seasonally Adjusted Goods Details

The July figures showed surpluses, in billions of dollars, with Hong Kong $0.7
($0.9 for June), Australia $0.7 ($0.6), Singapore $0.1 ($0.3), Egypt $0.1 ($0.1),
and Argentina $0.1 ($0.1). Deficits were recorded, in billions of dollars, with
China $19.6 ($19.7), Europe $15.6 ($10.7), the European Union $13.4 ($9.0),
OPEC $10.9 ($10.2), Japan $7.6 ($7.0), Canada $5.9 ($5.4), Mexico $5.1 ($6.1),
Taiwan $1.4 ($0.6), Korea $1.3 ($1.1), and Brazil $0.9 ($0.9).

Advanced technology products (ATP) exports were $19.6 billion in July and imports
were $24.2 billion, resulting in a deficit of $4.6 billion.  July exports were
$2.6 billion less than the $22.2 billion in June, while imports were $0.5 billion
less than the $24.7 billion in June.

Revisions

Goods carry-over in July was $0.3 billion (0.3 percent) for exports and $1.9 billion
(1.2 percent) for imports.  For June, revised export carry-over was $0.1 billion
(0.1 percent), virtually unchanged from last month.  For June, revised import
carry-over was $0.3 billion (0.2 percent), revised down from $1.8 billion
(1.1 percent).

Services exports and imports for January through June 2006 reflect the incorporation
of more comprehensive and revised quarterly and monthly data.  For services exports,
the largest revisions over the entire period were in other private services.  For
services imports, the largest revisions over the entire period were in travel.

Services exports for June were revised up $0.1 billion to $34.3 billion; the revision
was accounted for by upward revisions in other private services and royalties and
license fees that were partly offset by downward revisions in transfers under U.S.
military sales contracts and other transportation.  Services imports for June were
revised up $0.5 billion to $29.1 billion; the revision was accounted for by upward
revisions in all categories of services imports.