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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 FRIDAY, JUNE 8, 2007

CB07-81
BEA07-25
FT-900 (07-04)

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
                                  April 2007

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 April exports of $129.5 billion and imports of
$188.0 billion resulted in a goods and services deficit of $58.5 billion, $3.9 billion
less than the $62.4 billion in March, revised.  April exports were $0.2 billion more
than March exports of $129.2 billion.  April imports were $3.6 billion less than March
imports of $191.6 billion.

In April, the goods deficit decreased $3.7 billion from March to $67.1 billion, and the
services surplus increased $0.2 billion to $8.6 billion.  Exports of goods were virtually
unchanged at $91.1 billion, and imports of goods decreased $3.6 billion to $158.2 billion.
Exports of services increased $0.2 billion to $38.4 billion, and imports of services were
virtually unchanged at $29.8 billion.

In April, the goods and services deficit was down $3.8 billion from April 2006.  Exports
were up $12.8 billion, or 10.9 percent, and imports were up $8.9 billion, or 5.0 percent.

Goods

The March to April change in exports of goods reflected decreases in capital goods
($0.7 billion); other goods ($0.5 billion); and automotive vehicles, parts, and engines
($0.1 billion).  Increases occurred in foods, feeds, and beverages ($0.7 billion);
industrial supplies and materials ($0.4 billion); and consumer goods ($0.1 billion).

The March to April change in imports of goods reflected decreases in consumer goods
($1.5 billion); automotive vehicles, parts, and engines ($1.0 billion); capital goods
($0.6 billion); foods, feeds, and beverages ($0.3 billion); and other goods ($0.2 billion).
An increase occurred in industrial supplies and materials ($0.3 billion).

The April 2006 to April 2007 change in exports of goods reflected increases in industrial
supplies and materials ($2.8 billion); consumer goods ($1.6 billion); foods, feeds, and
beverages ($1.5 billion); automotive vehicles, parts, and engines ($1.2 billion); capital
goods ($1.0 billion); and other goods ($1.0 billion).

The April 2006 to April 2007 change in imports of goods reflected increases in consumer
goods ($3.4 billion); industrial supplies and materials ($1.5 billion); capital goods
($1.4 billion); and foods, feeds, and beverages ($0.4 billion).  A decrease occurred in
automotive vehicles, parts, and engines ($0.2 billion).  Other goods were virtually
unchanged.

Services

Services exports increased $0.2 billion from March to April.  The increase was mostly
accounted for by increases in travel and other transportation (which includes freight
and port services).  Changes in other categories of services exports were small.

Services imports were virtually unchanged from March to April.  Small decreases in
several categories were nearly offset by small increases in others.

From April 2006 to April 2007, services exports increased $4.0 billion.  The largest
increases were in other private services, which includes items such as business,
professional, and technical services, insurance services, and financial services
($2.2 billion), travel ($0.7 billion), and royalties and license fees ($0.6 billion).

From April 2006 to April 2007, services imports increased $1.6 billion.  The largest
increases were in other private services ($1.1 billion), royalties and license fees
($0.2 billion), and travel ($0.2 billion).

Goods and Services Moving Average

For the three months ending in April, exports of goods and services averaged $128.2
billion, while imports of goods and services averaged $187.7 billion, resulting in an
average trade deficit of $59.5 billion.  For the three months ending in March, the
average trade deficit was $58.9 billion, reflecting average exports of $127.6 billion
and average imports of $186.6 billion.

Selected Not Seasonally Adjusted Goods Details

The April figures showed surpluses, in billions of dollars, with Hong Kong $1.0 ($1.3 for
March), Australia $0.7 ($1.0), Singapore $0.4 ($0.9), Argentina $0.1($0.1), and Egypt $0.1
($0.2).  Deficits were recorded, in billions of dollars, with China $19.4 ($17.2), Europe
$10.0 ($8.9), OPEC $9.8 ($8.7), the European Union $9.0 ($7.7), Japan $7.4 ($7.1), Canada
$5.8 ($5.4), Mexico $5.2 ($6.7), Korea $1.0 ($1.2), Taiwan $0.7 ($1.0), and Brazil $0.3
($0.4).

Advanced technology products (ATP) exports were $20.6 billion in April and imports
were $25.3 billion, resulting in a deficit of $4.7 billion.  April exports were $3.5
billion less than the $24.2 billion in March, while imports were $1.7 billion less
than the $27.1 billion in March.

Revisions

Goods carry-over in April was $0.3 billion (0.3 percent) for exports and $1.1 billion
(0.7 percent) for imports. For March, revised export carry-over was virtually zero,
revised down from $0.1 billion (0.1 percent).  For March, revised import carry-over
was $0.1 billion (0.1 percent), revised down from $0.6 billion (0.4 percent).

Goods and services exports and imports for all months shown in this release reflect the
incorporation of annual revisions to the goods and services series in the U.S.
international transactions accounts.  See the "Notice" in this release for a description
of major revisions to goods and services exports and imports.

                                     NOTICE

In this release and the accompanying "U.S. International Trade in Goods and Services:
Annual Revision for 2006," the U.S. Census Bureau and the U.S. Bureau of Economic
Analysis (BEA) are jointly publishing revised data on U.S. trade in goods for 1997-2006
and the first three months of 2007 and revised data on services for 2003-2006 and the
first three months of 2007.

Goods

The 2006 not seasonally adjusted Census-basis goods data were revised to redistribute
monthly data that arrived too late for inclusion in the month of transaction but that
were included, initially, in the month in which the data were received.  In addition,
corrections were made to previously published data.  Once the redistributions of data
to the proper month of transaction and corrections were completed, factors for seasonal
adjustments and trading day adjustments were recomputed and the seasonally adjusted
current-dollar series were revised for 2004-2006 and the first three months of 2007.
Similar changes were made to the chain-weighted dollar series.  Also, the balance of
payments adjustment to the Census-basis data for re-valuing some goods imports of
computer software from media to full value has been updated for 1997-2006 and the first
three months of 2007.

Services

The services estimates were revised for 2003-2006 and the first three months of 2007.
Most of the revisions resulted from the incorporation of results from BEA's quarterly
surveys.  Revisions from these sources have an impact mostly on receipts and payments
for 2005-2006.  The revisions to services receipts are larger than the revisions to
services payments.  Most of the revisions to services receipts are to "other private
services."  The revisions reflect results from recent BEA initiatives to better capture
movements of large and volatile categories of transactions, as well as to improve the
coverage of transactions.