Home > News Release: U.S. International Trade in Goods and Services
FOR IMMEDIATE RELEASE AT 8:30 A.M. EST, TUESDAY, JANUARY 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
                                      November 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 November exports of $138.2 billion and imports of $174.6 billion resulted in a goods and services deficit of $36.4 billion, up from $33.2 billion in October, revised. November exports were $1.2 billion more than October exports of $137.0 billion. November imports were $4.4 billion more than October imports of $170.2 billion. In November, the goods deficit increased $3.2 billion from October to $48.4 billion, and the services surplus was virtually unchanged at $12.0 billion. Exports of goods increased $1.2 billion to $94.6 billion, and imports of goods increased $4.4 billion to $143.0 billion. Exports of services increased $0.1 billion to $43.6 billion, and imports of services increased $0.1 billion to $31.6 billion. In November, the goods and services deficit decreased $6.8 billion from November 2008. Exports were down $3.3 billion, or 2.3 percent, and imports were down $10.1 billion, or 5.5 percent. Goods (Census basis) The October to November increase in exports of goods reflected increases in foods, feeds, and beverages ($1.3 billion); automotive vehicles, parts, and engines ($0.7 billion); and capital goods ($0.4 billion). Decreases occurred in consumer goods ($0.7 billion), industrial supplies and materials ($0.5 billion), and other goods ($0.4 billion). The October to November increase in imports of goods reflected increases in industrial supplies and materials ($2.1 billion), consumer goods ($1.4 billion), and capital goods ($1.2 billion). Decreases occurred in foods, feeds, and beverages ($0.2 billion) and automotive vehicles, parts, and engines ($0.1 billion). Other goods were virtually unchanged. The November 2008 to November 2009 decrease in exports of goods reflected decreases in capital goods ($2.3 billion); automotive vehicles, parts, and engines ($0.6 billion); industrial supplies and materials ($0.5 billion); other goods ($0.5 billion); and consumer goods ($0.2 billion). An increase occurred in foods, feeds, and beverages ($1.1 billion). The November 2008 to November 2009 decrease in imports of goods reflected decreases in industrial supplies and materials ($5.7 billion); capital goods ($2.2 billion); other goods ($0.7 billion); and foods, feeds, and beverages ($0.6 billion). Increases occurred in consumer goods ($0.6 billion) and automotive vehicles, parts, and engines ($0.1 billion). Services Services exports increased $0.1 billion from October to November. The increase was more than accounted for by an increase in other transportation (which includes freight and port services). A decrease in travel was partly offsetting. Changes in the other categories of services exports were small. Services imports increased $0.1 billion from October to November. The increase was more than accounted for by an increase in other transportation. A decrease in travel was partly offsetting. Changes in the other categories of services imports were small. Services exports decreased $0.4 billion from November 2008 to November 2009. The largest decreases were in travel ($0.5 billion), royalties and license fees ($0.4 billion), and passenger fares ($0.3 billion). Increases in other private services ($0.5 billion), which includes items such as business, professional, and technical services; insurance services; and financial services, and transfers under U.S. military sales contracts ($0.5 billion) were partly offsetting. Services imports decreased $1.3 billion from November 2008 to November 2009. Decreases in other transportation ($0.8 billion), passenger fares ($0.7 billion), and travel ($0.5 billion) were partly offset by an increase in other private services ($0.4 billion). Goods and Services Moving Average For the three months ending in November, exports of goods and services averaged $136.2 billion, while imports of goods and services averaged $171.3 billion, resulting in an average trade deficit of $35.1 billion. For the three months ending in October, the average trade deficit was $33.1 billion, reflecting average exports of $133.4 billion and average imports of $166.4 billion. Selected Not Seasonally Adjusted Goods Details The November figures show surpluses, in billions of dollars, with Hong Kong $1.4 ($1.6 for October), Australia $1.0 ($1.3), Singapore $0.7 ($0.9), and Egypt $0.2 ($0.4). Deficits were recorded, in billions of dollars, with China $20.2 ($22.7), European Union $6.4 ($4.9), OPEC $6.1 ($5.8), Japan $5.4 ($4.4), Mexico $5.1 ($4.6), Nigeria $2.1 ($1.4), Venezuela $1.6 ($1.7), Canada $1.4 ($2.1), Taiwan $0.9 ($0.7), and Korea $0.7 ($0.5). Advanced technology products exports were $21.0 billion in November and imports were $29.3 billion, resulting in a deficit of $8.3 billion. November exports were $2.7 billion less than the $23.7 billion in October, while November imports were virtually unchanged. Revisions For October, goods exports were revised down $0.1 billion and goods imports were revised up $0.3 billion. Goods carry-over in November was $0.1 billion (0.1 percent) for exports and $0.9 billion (0.7 percent) for imports. For October, revised export carry-over was virtually zero. For October, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.6 billion (0.4 percent). Services exports for October were revised up $0.2 billion to $43.5 billion, reflecting upward revisions in most categories. Services imports for October were revised up $0.1 billion to $31.6 billion, reflecting upward revisions in most categories.