Home > News Release: U.S. International Trade in Goods and Services, March 2009
FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT, TUESDAY, MAY 12, 2009
CB09-73
BEA09-19
FT-900 (09-03)



* See the navigation bar at the right side of the news release text for links to data tables, contact personnel and their telephone numbers, and supplementary materials.

                            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
                               March 2009

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 $123.6
billion and imports of $151.2 billion resulted in a goods and services deficit
of $27.6 billion, up from $26.1 billion in February, revised.  March exports
were $3.0 billion less than February exports of $126.6 billion.  March imports
were $1.6 billion less than February imports of $152.8 billion.

In March, the goods deficit increased $1.2 billion from February to $38.4 billion,
and the services surplus decreased $0.2 billion to $10.8 billion.  Exports of goods
decreased $2.5 billion to $82.0 billion, and imports of goods decreased $1.3 billion
to $120.3 billion.  Exports of services decreased $0.5 billion to $41.7 billion, and
imports of services decreased $0.3 billion to $30.9 billion.

In March, the goods and services deficit decreased $29.8 billion from March 2008.
Exports were down $26.0 billion, or 17.4 percent, and imports were down $55.9
billion, or 27.0 percent.

Goods

The February to March change in exports of goods reflected decreases in capital goods 
($1.7 billion); consumer goods ($0.5 billion); automotive vehicles, parts, and engines 
($0.2 billion); and other goods ($0.2 billion).  Increases occurred in foods, feeds, 
and beverages ($0.2 billion) and industrial supplies and materials ($0.1 billion).

The February to March change in imports of goods reflected decreases in industrial 
supplies and materials ($0.7 billion); capital goods ($0.5 billion); and other goods 
($0.4 billion).  An increase occurred in consumer goods ($0.3 billion).  Foods, feeds, 
and beverages and automotive vehicles, parts, and engines were virtually unchanged.
 
The March 2008 to March 2009 change in exports of goods reflected decreases in 
industrial supplies and materials ($9.4 billion); capital goods ($6.4 billion); 
automotive vehicles, parts, and engines ($3.6 billion); foods, feeds, and beverages 
($2.0 billion); other goods ($0.9 billion); and consumer goods ($0.4 billion).

The March 2008 to March 2009 change in imports of goods reflected decreases in 
industrial supplies and materials ($27.8 billion); automotive vehicles, parts, and 
engines ($9.7 billion); capital goods ($8.7 billion); consumer goods ($4.9 billion); 
other goods ($0.8 billion); and foods, feeds, and beverages ($0.4 billion).

Services

Services exports decreased $0.5 billion from February to March.  The decrease was more 
than accounted for by decreases in travel, passenger fares, and other transportation 
(which includes freight and port services).  An increase in transfers under U.S. 
military sales contracts was partly offsetting.  Changes in other categories of 
services exports were small.

Services imports decreased $0.3 billion from February to March.  The decrease was more 
than accounted for by decreases in travel and passenger fares.  Changes in other 
categories of services imports were small.

The March 2008 to March 2009 decrease in exports of services was $3.1 billion.  The 
largest decreases were in travel ($1.4 billion), other transportation ($1.1 billion), 
and passenger fares ($0.5 billion).

The March 2008 to March 2009 decrease in imports of services was $2.3 billion.  The 
largest decreases were in other transportation ($1.3 billion), travel ($0.7 billion), 
and passenger fares ($0.4 billion).  An increase in other private services ($0.2 billion), 
which includes items such as business, professional, and technical services, insurance 
services, and financial services, was partly offsetting.  The largest increase was in 
business, professional, and technical services, and the largest decrease was in financial 
services.

Goods and Services Moving Average

For the three months ending in March, exports of goods and services averaged $125.0 
billion, while imports of goods and services averaged $155.0 billion, resulting in an 
average trade deficit of $30.0 billion.  For the three months ending in February, the 
average trade deficit was $34.1 billion, reflecting average exports of $128.0 billion 
and average imports of $162.0 billion.

Selected Not Seasonally Adjusted Goods Details

The March figures show surpluses, in billions of dollars, with Hong Kong $1.5 ($1.2 for 
February), Australia $1.1 ($1.0), Singapore $0.5 ($0.7), and Egypt $0.3 ($0.5).  Deficits 
were recorded, in billions of dollars, with China $15.6 ($14.2), the European Union 
$4.4 ($3.3), Mexico $3.9 ($3.1), Japan $2.6 ($2.2), OPEC $2.4 ($2.1), Korea $1.2 ($0.9), 
Taiwan $1.0 ($1.0), Venezuela $0.9 ($1.0), Nigeria $0.9 ($0.5), and Canada $0.8 ($1.9).

Advanced technology products (ATP) exports were $20.7 billion in March and imports were 
$23.4 billion, resulting in a deficit of $2.6 billion.  March exports were $1.8 billion 
more than the $18.9 billion in February, while imports were $3.0 billion more than the 
$20.4 billion in February.

Revisions

Goods carry-over in March was less than $0.1 billion (0.1 percent) for exports and 
$0.6 billion (0.5 percent) for imports.  For February, revised export carry-over was 
virtually unchanged at $0.1 billion (0.1 percent).  For February, revised import 
carry-over was $0.2 billion (0.2 percent), revised down from $0.8 billion (0.6 percent).

Services exports for February were revised up $0.1 billion to $42.2 billion.  The 
revision was more than accounted for by upward revisions in travel and passenger fares.  
Services imports for February were virtually unrevised at $31.2 billion, as small 
upward revisions were mostly offset by small downward revisions.