Home > News Release: U.S. International Trade in Goods and Services
FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT, FRIDAY, JULY 10, 2009
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                             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
                                  May 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 May exports of $123.3 billion
and imports of $149.3 billion resulted in a goods and services deficit of $26.0
billion, down from $28.8 billion in April, revised.  May exports were $1.9 billon
more than April exports of $121.4 billion.  May imports were $0.9 billion less
than April imports of $150.2 billion.

In May, the goods deficit decreased $2.6 billion from April to $37.3 billion, and
the services surplus increased $0.2 billion to $11.4 billion.  Exports of goods
increased $2.0 billion to $82.1 billion, and imports of goods decreased $0.5 billion
to $119.4 billion.  Exports of services decreased $0.1 billion to $41.3 billion, and
imports of services decreased $0.4 billion to $29.9 billion.

In May, the goods and services deficit decreased $34.6 billion from May 2008.
Exports were down $33.3 billion, or 21.3 percent, and imports were down $67.9
billion, or 31.3 percent.

Goods

The April to May increase in exports of goods reflected increases in industrial
supplies and materials ($2.1 billion); foods, feeds, and beverages ($0.3 billion);
consumer goods ($0.2 billion); and capital goods ($0.1 billion).  A decrease
occurred in automotive vehicles, parts, and engines ($0.4 billion).  Other goods
were virtually unchanged.

The April to May decrease in imports of goods reflected decreases in industrial
supplies and materials ($0.7 billion); automotive vehicles, parts, and engines
($0.2 billion); and consumer goods ($0.1 billion).  Increases occurred in capital
goods ($0.3 billion); other goods ($0.2 billion); and foods, feeds, and beverages
($0.1 billion).

The May 2008 to May 2009 decrease in exports of goods reflected decreases in
industrial supplies and materials ($11.0 billion); capital goods ($7.4 billion);
automotive vehicles, parts, and engines ($4.8 billion); foods, feeds, and beverages
($1.6 billion); consumer goods ($1.4 billion); and other goods ($0.9 billion).

The May 2008 to May 2009 decrease in imports of goods reflected decreases in
industrial supplies and materials ($34.9 billion); capital goods ($10.5 billion);
automotive vehicles, parts, and engines ($10.2 billion); consumer goods ($6.0 billion);
other goods ($0.9 billion); and foods, feeds, and beverages ($0.8 billion).

Services

Services exports decreased $0.1 billion from April to May.  The decrease was more
than accounted for by decreases in travel and passenger fares.  An increase in other
private services (which includes items such as business, professional, and technical
services, insurance services, and financial services) was partly offsetting.  Changes
in other categories of services exports were small.

Services imports decreased $0.4 billion from April to May.  The decrease was more than
accounted for by decreases in travel, other transportation (which includes freight and
port services), and passenger fares.  An increase in other private services was partly
offsetting.  Changes in other categories of services imports were small.

The May 2008 to May 2009 decrease in exports of services was $5.8 billion.  The largest
decreases were in travel ($2.2 billion), other transportation ($1.7 billion), and other
private services ($0.7 billion).  Within other private services, the largest decreases
were in business, professional, and technical services and financial services.

The May 2008 to May 2009 decrease in imports of services was $4.0 billion.  The largest
decreases were in other transportation ($2.0 billion), travel ($1.0 billion), and
passenger fares ($0.6 billion).

Goods and Services Moving Average

For the three months ending in May, exports of goods and services averaged $122.9
billion, while imports of goods and services averaged $150.6 billion, resulting in
an average trade deficit of $27.8 billion.  For the three months ending in April,
the average trade deficit was $27.8 billion, reflecting average exports of $123.9
billion and average imports of $151.7 billion.

Selected Not Seasonally Adjusted Goods Details

The May figures show surpluses, in billions of dollars, with Hong Kong $1.5
($1.4 for April), Australia $1.0 ($0.6), Singapore $0.3 ($0.3), and Egypt $0.2 ($0.2).
Deficits were recorded, in billions of dollars, with China $17.5 ($16.8), OPEC $4.1
($3.6), Mexico $3.9 ($4.1), the European Union $2.8 ($5.3), Japan $1.9 ($3.2),
Venezuela $1.3 ($1.0), Taiwan $0.9 ($1.0), Nigeria $0.8 ($0.7), Korea $0.7 ($1.0),
and Canada $0.6 ($1.2).

Advanced technology products (ATP) exports were $19.2 billion in May and imports
were $22.8 billion, resulting in a deficit of $3.6 billion.  May exports were $0.5
billion more than the $18.7 billion in April, while May imports were $0.6 billion
less than the $23.4 billion in April.

Revisions

Goods carry-over in May was $0.1 billion (0.2 percent) for exports and $0.6 billion
(0.6 percent) for imports.  For April, revised export carry-over was less than
$0.1 billion (0.1 percent), revised down from $0.1 billion (0.1 percent).  For April,
revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.6
billion (0.5 percent).

Services exports for April were revised up $0.3 billion to $41.4 billion.  The
revision was more than accounted for by upward revisions in travel and passenger
fares.  Services imports for April were revised up $0.1 billion to $30.3 billion.
The revision was more than accounted for by an upward revision in travel.