Home > News Release: U.S. International Trade in Goods and Services
FOR IMMEDIATE RELEASE AT 8:30 A.M. EST, FRIDAY, FEBRUARY 11, 2011
CB11-26
BEA 11-04
FT-900 (10-12)



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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 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 December exports of $163.0 billion and imports
of $203.5 billion resulted in a goods and services deficit of $40.6 billion, up from
$38.3 billion in November, revised.  December exports were $2.8 billion more than November
exports of $160.1 billion.  December imports were $5.1 billion more than November imports
of $198.5 billion.

In December, the goods deficit increased $2.3 billion from November to $53.6 billion, and
the services surplus was virtually unchanged at $13.0 billion.  Exports of goods increased
$2.8 billion to $116.6 billion, and imports of goods increased $5.1 billion to $170.1 billion.
Exports of services were virtually unchanged at $46.4 billion, and imports of services were
virtually unchanged at $33.4 billion.

The goods and services deficit increased $3.5 billion from December 2009 to December 2010.
Exports were up $19.6 billion, or 13.7 percent, and imports were up $23.1 billion, or 12.8
percent.

Goods (Census basis)

The November to December increase in exports of goods reflected increases in capital goods
($1.5 billion); industrial supplies and materials ($1.1 billion); automotive vehicles, parts,
and engines ($0.6 billion); and other goods ($0.2 billion).  A decrease occurred in 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 ($5.2 billion); other goods ($0.3 billion); foods, feeds, and
beverages ($0.2 billion); and automotive vehicles, parts, and engines ($0.1 billion).
Decreases occurred in capital goods ($0.5 billion) and consumer goods ($0.4 billion).

The December 2009 to December 2010 increase in exports of goods reflected increases in
industrial supplies and materials ($7.8 billion); capital goods ($4.6 billion); foods, feeds,
and beverages ($1.7 billion); consumer goods ($1.5 billion); automotive vehicles, parts, and
engines ($0.9 billion); and other goods ($0.8 billion).

The December 2009 to December 2010 increase in imports of goods reflected increases in
industrial supplies and materials ($7.7 billion); capital goods ($5.9 billion); consumer
goods ($3.7 billion); automotive vehicles, parts, and engines ($2.0 billion); foods, feeds,
and beverages ($1.1 billion); and other goods ($0.3 billion).

Services

Services exports were virtually unchanged from November to December.  A decrease in
travel was largely offset by an increase in other private services (which includes items
such as business, professional, and technical services, insurance services, and financial
services).  Changes in the other categories of services exports were small.

Services imports were virtually unchanged from November to December.  Changes in all
categories of services imports were small and mostly offsetting.

The December 2009 to December 2010 increase in exports of services was $2.7 billion.  The
largest increases were in other private services ($0.8 billion), travel ($0.8 billion),
and passenger fares ($0.5 billion).  Within other private services, the largest increase
was in business, professional, and technical services.

The December 2009 to December 2010 increase in imports of services was $1.7 billion.  The
largest increases were in other private services ($0.6 billion), other transportation
($0.5 billion), which includes freight and port services, and travel ($0.3 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 December, exports of goods and services averaged $160.6
billion, while imports of goods and services averaged $199.6 billion, resulting in an
average trade deficit of $39.1 billion.  For the three months ending in November, the
average trade deficit was $40.4 billion, reflecting average exports of $157.6 billion
and average imports of $197.9 billion.

Selected Not Seasonally Adjusted Goods Details

The December figures show surpluses, in billions of dollars, with Hong Kong $2.2 ($1.9
for November), Singapore $1.3 ($0.5), Australia $1.2 ($1.2), and Egypt $0.7 ($0.4).
Deficits were recorded, in billions of dollars, with China $20.7 ($25.6), OPEC $8.3
($7.0), European Union $6.6 ($7.1), Japan $5.9 ($5.8), Mexico $4.7 ($5.6), Canada $3.9
($1.7), Germany $3.3 ($3.1), Ireland $2.6 ($2.3), Nigeria $2.5 ($1.7), Venezuela $2.0
($1.6), Korea $0.7 ($1.6), and Taiwan $0.6 ($0.8).

Advanced technology products exports were $26.1 billion in December and imports were
$31.6 billion, resulting in a deficit of $5.5 billion.  December exports were $3.0 billion
more than the $23.1 billion in November, while December imports were $2.8 billion less
than the $34.4 billion in November.

Revisions

For November on a Census basis, not seasonally adjusted, goods exports were revised up
$0.1 billion and imports were revised up $0.2 billion.  Goods carry-over in December was
$0.1 billion (less than 0.1 percent) for exports and $0.9 billion (0.5 percent) for imports.
For November, revised export carry-over was virtually unchanged at $0.1 billion (0.1 percent).
For November, revised import carry-over was $0.1 billion (0.1 percent), revised down from
$0.6 billion (0.3 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 revised up $0.3 billion to $46.4 billion.  The revision
was mostly accounted for by an upward revision to travel.  Services imports for November were
revised up $0.1 billion to $33.4 billion.  The revision was mostly accounted for by upward
revisions to travel and passenger fares.


                                 Annual Summary for 2010

Goods and Services

For 2010, exports of $1,831.8 billion and imports of $2,329.7 billion resulted in a goods
and services deficit of $497.8 billion, $122.9 billion more than the 2009 deficit of
$374.9 billion.  For goods, exports were $1,289.1 billion and imports were $1,935.6 billion,
resulting in a goods deficit of $646.5 billion, $139.6 billion more than the 2009 deficit
of $506.9 billion.  For services, exports were $542.8 billion and imports were $394.1 billion,
resulting in a services surplus of $148.7 billion, $16.7 billion more than the 2009 surplus
of $132.0 billion.

The goods and services deficit was $497.8 billion in 2010, up from $374.9 billion in 2009.
As a percentage of U.S. gross domestic product, the goods and services deficit was 3.4 percent
in 2010, up from 2.7 percent in 2009.

Goods (Census basis)

For 2010, exports of goods were up $222.1 billion from 2009.  Increases occurred in industrial
supplies and materials ($94.0 billion); capital goods ($55.5 billion); automotive vehicles,
parts, and engines ($30.1 billion); consumer goods ($15.7 billion); foods, feeds, and beverages
($13.8 billion); and other goods ($13.0 billion).

For 2010, imports of goods were up $352.4 billion from 2009.  Increases occurred in industrial
supplies and materials ($138.8 billion); capital goods ($80.0 billion); automotive vehicles,
parts, and engines ($67.6 billion); consumer goods ($55.0 billion); foods, feeds, and beverages
($10.1 billion); and other goods ($1.0 billion).

Services

For 2010, exports of services were $542.8 billion, up $40.5 billion from 2009.  Increases
occurred in other private services ($13.3 billion), which includes items such as business,
professional, and technical services, insurance services, and financial services; travel
($9.3 billion); royalties and license fees ($7.5 billion); passenger fares ($4.8 billion);
other transportation ($4.3 billion), which includes freight and port services; transfers under
U.S. military sales contracts ($1.1 billion); and U.S. government miscellaneous services
($0.1 billion).  Within other private services, the largest increase was in business,
professional, and technical services.

For 2010, imports of services were $394.1 billion, up $23.8 billion from 2009.  Increases
occurred in other private services ($8.0 billion); other transportation ($7.6 billion);
royalties and license fees ($4.1 billion); passenger fares ($2.2 billion); travel ($1.9 billion);
and U.S. government miscellaneous services ($0.2 billion).  Within other private services, the
largest increase was in business, professional, and technical services.  A decrease occurred in
direct defense expenditures ($0.1 billion).

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.

                                    NOTICE

                      Changes to Country Names and Groupings

Country Names

With the release of January 2011 FT900: U.S. International Trade in Goods and Services on
March 10, 2011, the U.S. Census Bureau will alter the country names used in certain exhibits
of the FT900. These changes will bring the names used in the FT900 and related data products
closer in line with names used by the U.S. Department of State and the International
Organization for Standardization. The changes are as follows:

Current Name                             New Name
Falkland Islands                         Falkland Islands (Islas Malvinas)
Federal Republic of Germany              Germany
Bosnia-Hercegovina                       Bosnia and Herzegovina
Macedonia (Skopje)                       Macedonia
Republic of Yemen                        Yemen
Burma (Myanmar)                          Burma
Macao                                    Macau
North Korea                              Korea, North
Cocos (Keeling) Island                   Cocos (Keeling) Islands
Western Samoa                            Samoa
Pitcairn Island                          Pitcairn Islands
Federated States of Micronesia           Micronesia
Burkina                                  Burkina Faso

Country Groupings

Estonia will be included in the Euro area in Exhibit 14 of the FT900 and Exhibit 6 of the
FT900 supplement, effective with January 2011 statistics. The statistics for prior time
periods will not be affected by this change.

If you have further questions contact the U.S. Census Bureau, Foreign Trade Division at:
(301) 763-2311 or e-mail ftd.data.dissemination@census.gov.