Home > News Release: U.S. International Trade in Goods and Services
FOR IMMEDIATE RELEASE AT 8:30 A.M. EST, WEDNESDAY, FEBRUARY 10, 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
                                 December 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 December exports of $142.7 billion and imports
of $182.9 billion resulted in a goods and services deficit of $40.2 billion, up from
$36.4 billion in November, revised.  December exports were $4.6 billion more than
November exports of $138.1 billion.  December imports were $8.4 billion more than
November imports of $174.5 billion.

In December, the goods deficit increased $3.4 billion from November to $51.8 billion,
and the services surplus decreased $0.4 billion to $11.7 billion.  Exports of goods
increased $4.6 billion to $99.1 billion, and imports of goods increased $8.1 billion
to $150.9 billion.  Exports of services were virtually unchanged at $43.6 billion, and
imports of services increased $0.3 billion to $31.9 billion.

In December, the goods and services deficit decreased $1.7 billion from December 2008.
Exports were up $9.8 billion, or 7.4 percent, and imports were up $8.1 billion, or 4.6
percent.

Goods (Census basis)

The November to December increase in exports of goods reflected increases in capital
goods ($1.8 billion); industrial supplies and materials ($1.6 billion); automotive
vehicles, parts, and engines ($0.9 billion); other goods ($0.3 billion); and consumer
goods ($0.3 billion). Foods, feeds, and beverages were virtually unchanged.

The November to December increase in imports of goods reflected increases in industrial
supplies and materials ($4.4 billion); automotive vehicles, parts, and engines ($1.6 billion);
capital goods ($1.6 billion); foods, feeds, and beverages ($0.3 billion); and other goods
($0.2 billion).  Consumer goods were virtually unchanged.

The December 2008 to December 2009 increase in exports of goods reflected increases in
industrial supplies and materials ($5.5 billion); foods, feeds, and beverages ($1.8 billion);
automotive vehicles, parts, and engines ($1.4 billion); consumer goods ($0.7 billion); and
capital goods ($0.7 billion). Other goods were virtually unchanged.

The December 2008 to December 2009 increase in imports of goods reflected increases in
industrial supplies and materials ($3.9 billion); automotive vehicles, parts, and engines
($3.1 billion); consumer goods ($1.2 billion); and  capital goods ($0.7 billion). Decreases
occurred in other goods ($0.1 billion) and foods, feeds, and beverages ($0.1 billion).

Services

Services exports were virtually unchanged from November to December.  Decreases in transfers
under U.S. military sales contracts, 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), were mostly offset by
increases in travel and passenger fares.

Services imports increased $0.3 billion from November to December.  The increase was mostly
accounted for by increases in other transportation, travel, and passenger fares.  Changes in
the other categories of services imports were small.

Services exports decreased $0.1 billion from December 2008 to December 2009.  The largest
decreases were in travel ($0.5 billion), passenger fares ($0.3 billion), and royalties and
license fees ($0.2 billion).  An increase in other private services ($0.7 billion) was
partly offsetting.  Within other private services, the largest increases were in business,
professional, and technical services and financial services.

Services imports decreased $0.5 billion from December 2008 to December 2009.  The largest
decreases were in passenger fares ($0.6 billion), other transportation ($0.5 billion), and
travel ($0.3 billion).  An increase in other private services ($0.5 billion) was partly
offsetting.  Within other private services, the largest increases were in insurance services
and financial services.

Goods and Services Moving Average

For the three months ending in December, exports of goods and services averaged $139.2
billion, while imports of goods and services averaged $175.8 billion, resulting in an
average trade deficit of $36.6 billion.  For the three months ending in November, the
average trade deficit was $35.1 billion, reflecting average exports of $136.1 billion
and average imports of $171.2 billion.

Selected Not Seasonally Adjusted Goods Details

The December figures show surpluses, in billions of dollars, with Hong Kong $2.0
($1.4 for November), Australia $1.1 ($1.0), Singapore $0.8 ($0.7), and Egypt $0.2 ($0.2).
Deficits were recorded, in billions of dollars, with China $18.1 ($20.2), OPEC $6.8 ($6.1),
European Union $6.4 ($6.4), Mexico $5.2 ($5.1), Japan $4.6 ($5.4), Canada $3.0 ($1.5),
Nigeria $2.2 ($2.1), Venezuela $2.1 ($1.6), Taiwan $0.7 ($0.9), and Korea $0.6 ($0.7).

Advanced technology products exports were $24.0 billion in December and imports were $28.9
billion, resulting in a deficit of $4.9 billion.  December exports were $3.0 billion more
than the $21.0 billion in November, while December imports were $0.4 billion less than the
$29.3 billion in November.

Revisions

For November, goods exports (not seasonally adjusted) were revised down $0.1 billion and
goods imports (not seasonally adjusted) were virtually unrevised.  Goods carry-over in
December was $0.1 billion (0.1 percent) for exports and $1.0 billion (0.7 percent) for
imports.  For November, revised export carry-over was virtually zero.  For November,
revised import carry-over was $0.2 billion (0.1 percent), revised down from $0.9 billion
(0.7 percent).

The seasonally adjusted goods data for January through November were revised to align the
seasonally adjusted months with the annual totals.

Services exports for November were virtually unrevised at $43.6 billion.  Services imports
for November were virtually unrevised at $31.6 billion.

Annual Summary for 2009

Goods and Services

For 2009, exports of $1,553.1 billion and imports of $1,933.7 billion resulted in a goods
and services deficit of $380.7 billion, $315.3 billion less than the 2008 deficit of $695.9
billion.  For goods, exports were $1,045.6 billion and imports were $1,562.5 billion,
resulting in a goods deficit of $517.0 billion, $323.3 billion less than the 2008 deficit
of $840.3 billion.  For services, exports were $507.5 billion and imports were $371.2 billion,
resulting in a services surplus of $136.3 billion, $8.0 billion less than the 2008 surplus of
$144.3 billion.

The goods and services deficit was $380.7 billion in 2009, down from $695.9 billion in 2008.
As a percentage of U.S. gross domestic product, the goods and services deficit was 2.7
percent in 2009, down from 4.8 percent in 2008.

Goods (Census basis)

For 2009, exports of goods were down $230.5 billion from 2008.  Decreases occurred in
industrial supplies and materials ($91.7 billion); capital goods ($67.3 billion);
automotive vehicles, parts, and engines ($39.8 billion); foods, feeds, and beverages
($14.4 billion); consumer goods ($11.3 billion); and other goods ($6.2 billion).

For 2009, imports of goods were down $545.6 billion from 2008.  Decreases occurred in
industrial supplies and materials ($318.4 billion); capital goods ($84.5 billion);
automotive vehicles, parts, and engines ($73.8 billion); consumer goods ($53.2 billion);
other goods ($8.3 billion); and foods, feeds, and beverages ($7.4 billion).

Services

For 2009, exports of services were $507.5 billion, down $42.1 billion from 2008.  Decreases
occurred in travel ($15.7 billion); other transportation ($14.0 billion), which includes
freight and port services; royalties and license fees ($8.2 billion); passenger fares
($4.3 billion); and other private services ($3.4 billion), which includes items such as
business, professional, and technical services, insurance services, and financial services.
Within other private services, the largest decrease was in financial services.  Increases
occurred in transfers under U.S. military sales contracts ($3.5 billion) and U.S. government
miscellaneous services ($0.1 billion).

For 2009, imports of services were $371.2 billion, down $34.1 billion from 2008.  Decreases
occurred in other transportation ($17.9 billion); travel ($7.1 billion); passenger fares
($7.1 billion); royalties and license fees ($2.1 billion); and direct defense expenditures
($0.7 billion).  Increases occurred in other private services ($0.5 billion) and U.S. government
miscellaneous services ($0.2 billion).  Within other private services, the largest increase was
in insurance services.

For detailed descriptions of the types of transactions included in each of the services categories,
see “Information on Goods and Services” starting on page A-1 of this release.