Home > News Release: U.S. International Trade in Goods and Services
FOR IMMEDIATE RELEASE AT 8:30 A.M. EST, THURSDAY, MARCH 11, 2010
CB10-33
BEA 10-07
FT-900 (10-01)




BEA has posted corrections related to a formatting problem in Exhibit 2a. U.S. General Imports of Goods by States, State of Destination, by NAICS-Based Product Code Groupings, Not Seasonally adjusted: January 2010 and Cumulative to Date 2010 of the FT-900 Supplement to the March 11 joint BEA-U.S. Census Bureau release, U.S. International Trade in Goods and Services: January 2010. The corrections affected statistics in the block of rows from Indiana to the U.S. Virgin Islands. Data in the correct format were posted on the Census web site at 8:30 am on the day of the release, but BEA did not receive the corrected exhibit until after the release was posted on the BEA site.


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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
                                 January 2010

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 January exports of $142.7 billion and imports of
$180.0 billion resulted in a goods and services deficit of $37.3 billion, down from $39.9
billion in December, revised.  January exports were $0.5 billion less than December exports
of $143.2 billion.  January imports were $3.1 billion less than December imports of $183.1
billion.

In January, the goods deficit decreased $2.5 billion from December to $49.4 billion, and the
services surplus increased $0.1 billion to $12.1 billion.  Exports of goods decreased $0.7
billion to $98.4 billion, and imports of goods decreased $3.2 billion to $147.8 billion.
Exports of services increased $0.2 billion to  $44.3 billion, and imports of services increased
$0.1 billion to $32.2 billion.

In January, the goods and services deficit increased $0.4 billion from January 2009.  Exports
were up $18.7 billion, or 15.1 percent, and imports were up $19.1 billion, or 11.9 percent.

Goods (Census basis)

The December to January decrease in exports of goods reflected decreases in capital goods
($1.0 billion); automotive vehicles, parts, and engines ($0.5 billion); and foods, feeds,
and beverages ($0.1 billion). Increases occurred in industrial supplies and materials ($0.5
billion) and consumer goods ($0.2 billion).  Other goods were virtually unchanged.

The December to January decrease in imports of goods reflected decreases in automotive vehicles,
parts, and engines ($1.5 billion); capital goods ($1.1 billion); and consumer goods ($0.9
billion). An increase occurred in foods, feeds, and beverages ($0.1 billion).  Other goods and
industrial supplies and materials were virtually unchanged.

The January 2009 to January 2010 increase in exports of goods reflected increases in industrial
supplies and materials ($7.0 billion); automotive vehicles, parts, and engines ($3.4 billion);
consumer goods ($2.1 billion); foods, feeds, and beverages ($1.7 billion); capital goods ($1.6
billion); and other goods ($0.4 billion).

The January 2009 to January 2010 increase in imports of goods reflected increases in industrial
supplies and materials ($9.1 billion); automotive vehicles, parts, and engines ($5.4 billion);
capital goods ($2.0 billion); consumer goods ($0.8 billion); foods, feeds, and beverages ($0.3
billion); and other goods ($0.3 billion).

Services

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

Services imports increased $0.1 billion from December to January.  The increase was more than
accounted for by increases in other transportation (which includes freight and port services)
and other private services.  A decrease in travel was partly offsetting.  Changes in other
categories of services imports were small.

Services exports increased $2.7 billion from January 2009 to January 2010.  The largest increases
were in other private services ($1.4 billion), royalties and license fees ($0.7 billion), and
other transportation ($0.5 billion).  Within other private services, the largest increases were
in business, professional, and technical services and financial services.

Services imports increased $1.3 billion from January 2009 to January 2010.  The largest increases
were in other private services ($0.8 billion), other transportation ($0.2 billion), and direct
defense expenditures ($0.2 billion).  Within other private services, the largest increases were
in insurance services and business, professional, and technical services.

Goods and Services Moving Average

For the three months ending in January, exports of goods and services averaged $141.4 billion,
while imports of goods and services averaged $179.2 billion, resulting in an average trade deficit
of $37.8 billion.  For the three months ending in December, the average trade deficit was $36.3
billion, reflecting average exports of $139.6 billion and average imports of $175.9 billion.

Selected Not Seasonally Adjusted Goods Details

The January figures show surpluses, in billions of dollars, with Hong Kong $1.6 ($2.0 for
December), Australia $0.9 ($1.1), and Belgium $0.3 ($0.1).  Deficits were recorded, in billions
of dollars, with China $18.3 ($18.1), OPEC $7.2 ($6.8), Mexico $4.6 ($5.2), Canada $3.9 ($3.0),
Japan $3.3 ($4.6), European Union $2.8 ($6.4), Nigeria $2.1 ($2.2), Ireland $1.6 ($1.6), Venezuela
$1.6 ($2.1), and Germany $1.1 ($2.9).

Advanced technology products exports were $21.3 billion in January and imports were $24.6 billion,
resulting in a deficit of $3.3 billion.  January exports were $2.7 billion less than the $24.0
billion in December, while January imports were $4.3 billion less than the $28.9 billion in December.

Revisions

For December, goods exports and goods imports (not seasonally adjusted) were virtually unrevised.
Goods carry-over in January was $0.1 billion (0.1 percent) for exports and $1.1 billion (0.8 percent)
for imports.  For December, revised export carry-over was virtually unchanged at $0.1 billion (0.1
percent).  For December, revised import carry-over was $0.3 billion (0.2 percent), revised down from
$1.0 billion (0.7 percent).

Goods and services exports and imports for all months in 2009 were revised in order to align the
seasonally adjusted months with the annual totals.

Services exports and imports for July through December 2009 reflect the incorporation of more
comprehensive and revised quarterly and monthly data.  For services exports, the largest monthly
revisions were in other private services and royalties and license fees.  For services imports, the
largest monthly revisions were in other private services, royalties and license fees, and other
transportation.

Services exports for December were revised up $0.5 billion to $44.1 billion.  The revision was more
than accounted for by upward revisions in other private services and royalties and license fees.
Services imports for December were revised up $0.1 billion to $32.1 billion.  The revision was more
than accounted for by upward revisions in other transportation, passenger fares, travel, and U.S.
government miscellaneous services.  Downward revisions in other private services and royalties and
license fees were partly offsetting.