Home > News Release: U.S. International Trade in Goods and Services
FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT, FRIDAY, OCTOBER 9, 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
                                August 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 August exports of $128.2 billion and imports of $158.9
billion resulted in a goods and services deficit of $30.7 billion, down from $31.9 billion
in July, revised.  August exports were $0.2 billion more than July exports of $128.0
billion.  August imports were $0.9 billion less than July imports of $159.8 billion.


In August, the goods deficit decreased $0.8 billion from July to $41.9 billion, and the
services surplus increased $0.3 billion to $11.2 billion.  Exports of goods were virtually
unchanged at $86.8 billion, and imports of goods decreased $0.8 billion to $128.7 billion.
Exports of services increased $0.2 billion to $41.4 billion, and imports of services
decreased $0.1 billion to $30.2 billion.


In August, the goods and services deficit decreased $30.2 billion from August 2008.
Exports were down $33.4 billion, or 20.7 percent, and imports were down $63.6 billion, or
28.6 percent.


Goods (Census basis)


The July to August decrease in exports of goods reflected decreases in capital goods ($1.3
billion), other goods ($0.4 billion), and consumer goods ($0.1 billion). Increases occurred
in industrial supplies and materials ($0.9 billion); automotive vehicles, parts, and
engines ($0.5 billion); and foods, feeds, and beverages ($0.1 billion).


The July to August decrease in imports of goods reflected decreases in industrial supplies
and materials ($1.0 billion); consumer goods ($0.7 billion); other goods ($0.2 billion);
foods, feeds, and beverages ($0.1 billion); and capital goods ($0.1 billion).  An increase
occurred in automotive vehicles, parts, and engines ($1.2 billion).


The August 2008 to August 2009 decrease in exports of goods reflected decreases in
industrial supplies and materials ($11.3 billion); capital goods ($9.5 billion);
automotive vehicles, parts, and engines ($3.0 billion); foods, feeds, and beverages
($2.0 billion); consumer goods ($1.6 billion); and other goods ($1.0 billion).

The August 2008 to August 2009 decrease in imports of goods reflected decreases in
industrial supplies and materials ($36.1 billion); capital goods ($8.0 billion); consumer
goods ($7.2 billion); automotive vehicles, parts, and engines ($4.7 billion); foods, feeds,
and beverages ($1.1 billion); and other goods ($0.7 billion).

Services

Services exports increased $0.2 billion from July to August.  The increase was more than
accounted for by increases in travel, other transportation (which includes freight and port
services), and other private services (which includes items such as business, professional,
and technical services, insurance services, and financial services).  A decrease in
transfers under U.S. military sales contracts was partly offsetting.  Changes in other
categories of services exports were small.

Services imports decreased $0.1 billion from July to August.  The decrease was more than
accounted for by a decrease in other transportation.  An increase in travel was partly
offsetting.  Changes in other categories of services imports were small.

The August 2008 to August 2009 decrease in exports of services was $5.6 billion.  The
largest decreases were in travel ($2.0 billion), other transportation ($1.5 billion), and
royalties and license fees ($0.9 billion).

The August 2008 to August 2009 decrease in imports of services was $5.5 billion.  The
largest decreases were in other transportation ($2.2 billion), royalties and license fees
($1.2 billion), and passenger fares ($0.7 billion).

Goods and Services Moving Average

For the three months ending in August, exports of goods and services averaged $127.0
billion, while imports of goods and services averaged $157.1 billion, resulting in an
average trade deficit of $30.0 billion.  For the three months ending in July, the average
trade deficit was $28.6 billion, reflecting average exports of $125.1 billion and average
imports of $153.6 billion.

Selected Not Seasonally Adjusted Goods Details

The August figures show surpluses, in billions of dollars, with Hong Kong $1.3 ($1.3 for
July), Australia $1.2 ($0.7), Egypt $0.4 ($0.2), and Singapore $0.3 ($0.7).  Deficits were
recorded, in billions of dollars, with China $20.2 ($20.4), OPEC $6.4 ($6.9), European
Union $5.4 ($8.0), Japan $4.3 ($3.9), Mexico $4.0 ($2.9), Venezuela $1.9 ($2.3), Nigeria
$1.7 ($1.7), Canada $1.5 ($2.1), Taiwan $0.5 ($0.7), and Korea $0.4 ($1.0).

Advanced technology products exports were $18.5 billion in August and imports were $24.1
billion, resulting in a deficit of $5.6 billion.  August exports were $1.5 billion less
than the $20.0 billion in July, while August imports were $2.4 billion less than the $26.6
billion in July.

Revisions

Goods exports and imports for July were each revised up $0.1 billion.  For July, revised
export carry-over was virtually zero, revised down from $0.1 billion (0.1 percent).  For
July, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.6
billion (0.4 percent).  Goods carry-over in August was virtually zero for exports and $0.7
billion (0.5 percent) for imports.

Services exports for July were revised up $0.3 billion to $41.2 billion.  The revision was
mostly accounted for by upward revisions in travel, other private services, and passenger
fares.  Services imports for July were revised up $0.2 billion to $30.3 billion.  The
revision was mostly accounted for by upward revisions in travel and passenger fares.