Home > News Release: U.S. International Trade in Goods and Services
FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT, WEDNESDAY, MAY 12, 2010
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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
                                     March 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 March exports of $147.9 billion and imports of $188.3 billion
resulted in a goods and services deficit of $40.4 billion, up from $39.4 billion in February,
revised.  March exports were $4.6 billion more than February exports of $143.3 billion.  March
imports were $5.6 billion more than February imports of $182.7 billion.

In March, the goods deficit increased $1.8 billion from February to $52.9 billion, and the
services surplus increased $0.8 billion to $12.5 billion. Exports of goods increased $4.2 billion
to $102.7 billion, and imports of goods increased $6.0 billion to $155.6 billion.  Exports of
services increased $0.4 billion to $45.2 billion, and imports of services decreased $0.4 billion
to $32.7 billion.

The goods and services deficit increased $11.6 billion from March 2009 to March 2010.  Exports
were up $25.0 billion, or 20.4 percent, and imports were up $36.6 billion, or 24.2 percent.

Goods (Census basis)

The February to March increase in exports of goods reflected increases in industrial supplies and
materials ($2.1 billion); other goods ($0.9 billion); consumer goods ($0.7 billion); capital goods
($0.5 billion); and foods, feeds, and  beverages ($0.1 billion). Automotive vehicles, parts, and
engines were virtually unchanged.

The February to March increase in imports of goods reflected increases in industrial supplies and
materials ($3.6 billion); automotive vehicles, parts, and engines ($1.2 billion); consumer goods
($0.5 billion); foods, feeds, and beverages ($0.4 billion); and capital goods ($0.3 billion).
A decrease occurred in other goods ($0.1 billion).

The March 2009 to March 2010 increase in exports of goods reflected increases in industrial
supplies and materials ($9.0 billion); capital goods ($3.8 billion); automotive vehicles, parts,
and engines ($3.2 billion); consumer goods ($1.6 billion); other goods ($1.4 billion); and foods,
feeds, and beverages ($1.1 billion).

The March 2009 to March 2010 increase in imports of goods reflected increases in industrial
supplies and materials ($17.7 billion); automotive vehicles, parts, and engines ($6.7 billion);
capital goods ($4.8 billion); consumer goods ($3.5 billion); foods, feeds, and beverages ($0.7
billion); and other goods ($0.6 billion).

Services

Services exports increased $0.4 billion from February to March.  The increase was more than
accounted for by increases in travel, other private services (which includes items such as
business, professional, and technical services, insurance services, and financial services), and
passenger fares.  A decrease in transfers under U.S. military sales contracts was partly
offsetting. Changes in the other categories of services exports were small.

Services imports decreased $0.4 billion from February to March.  The decrease was more than
accounted for by a decrease in royalties and license fees, which had been boosted in February by
payments for the rights to broadcast the 2010 Winter Olympic Games.  Increases in other
transportation (which includes freight and port services), passenger fares, and travel were partly
offsetting.  Changes in the other categories of services imports were small.

Services exports increased $4.8 billion from March 2009 to March 2010.  The largest increases were
in other private services ($1.7 billion), travel ($1.0 billion), other transportation ($0.8
billion), and royalties and license fees ($0.8 billion).  Within other private services, the
largest increase was in business, professional, and technical services.

Services imports increased $2.7 billion from March 2009 to March 2010.  The largest increases were
in other private services ($0.9 billion) and other transportation ($0.8 billion).  Within other
private services, the largest increase was in business, professional, and technical services.

Goods and Services Moving Average

For the three months ending in March, exports of goods and services averaged $144.7 billion, while
imports of goods and services averaged $183.6 billion, resulting in an average trade deficit of
$38.9 billion.  For the three months ending in February, the average trade deficit was $38.8
billion, reflecting average exports of $143.1 billion and average imports of $181.9 billion.

Selected Not Seasonally Adjusted Goods Details

The February figures show surpluses, in billions of dollars, with Hong Kong $1.8 ($1.6 for
February), Australia $1.2 ($1.0), and Belgium $0.7 ($0.7). Deficits were recorded, in billions of
dollars, with China $16.9 ($16.5), OPEC $9.1 ($6.4), European Union $7.1 ($5.3), Mexico $6.0
($4.8), Japan $5.3 ($4.3), Germany $2.7 ($2.3), Ireland $2.4 ($2.0), Canada $2.3 ($2.8), Nigeria
$2.2 ($1.7), and Venezuela $2.3 ($2.1).

Advanced technology products exports were $23.9 billion in March and imports were $28.7 billion,
resulting in a deficit of $4.9 billion.  March exports were $4.1 billion more than the $19.7
billion in February, while March imports were $5.1 billion more than the $23.6 billion in
February.

Revisions (Goods on a Census basis, not seasonally adjusted)

For February, goods exports were virtually unrevised and goods imports were revised down $0.2
billion. Goods carry-over in March was virtually zero for exports and $0.7 billion (0.5 percent)
for imports.  For February, revised export carry-over was virtually zero.  For February,
revised import carry-over was $0.5 billion (0.4 percent), revised down from $1.2 billion
(0.9 percent).

Services exports for February were revised up $0.1 billion to $44.8 billion. The revision was
mostly accounted for by an upward revision in travel. Services imports for February were virtually
unrevised at $33.1 billion.