FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT, Friday, June 3, 2016
CB 16-97
BEA 16—26
FT-900 (16-04)



* See the navigation bar at the right side of the news release text for links to data tables, contact personnel and their telephone numbers, and supplementary materials.

                                     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
                                         April 2016

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce,
announced today that the goods and services deficit was $37.4 billion in April, up $1.9 billion
from $35.5 billion in March, revised.  April exports were $182.8 billion, $2.6 billion more than
March exports. April imports were $220.2 billion, $4.5 billion more than March imports.

The April increase in the goods and services deficit reflected an increase in the goods deficit
of $1.4 billion to $58.8 billion and a decrease in the services surplus of $0.5 billion to $21.4
billion.

Year-to-date, the goods and services deficit decreased $8.1 billion, or 4.8 percent, from the same
period in 2015. Exports decreased $39.0 billion or 5.1 percent. Imports decreased $47.1 billion
or 5.1 percent.

Goods and Services Three-Month Moving Averages (Exhibit 2)

The average goods and services deficit decreased $1.6 billion to $39.0 billion for the three months
ending in April.
   * Average exports of goods and services increased $1.0 billion to $181.7 billion in April.
   * Average imports of goods and services decreased $0.6 billion to $220.7 billion in April.

Year-over-year, the average goods and services deficit decreased $2.8 billion from the three months
ending in April 2015.
   * Average exports of goods and services decreased $8.9 billion from April 2015.
   * Average imports of goods and services decreased $11.7 billion from April 2015.

Exports (Exhibits 3, 6, and 7)

Exports of goods increased $2.9 billion to $120.1 billion in April.
   Exports of goods on a Census basis increased $2.8 billion.
      * Industrial supplies and materials increased $1.8 billion.
         o Fuel oil increased $0.3 billion.
         o Other petroleum products increased $0.2 billion.
	 o Organic chemicals increased $0.2 billion.
      * Automotive vehicles, parts, and engines increased $0.8 billion.
         o Other parts and accessories increased $0.4 billion.
   Net balance of payments adjustments decreased $0.1 billion.

Exports of services decreased $0.3 billion to $62.7 billion in April.
      * Travel (for all purposes including education) decreased $0.2 billion.
      * Transport, which includes freight and port services and passenger fares, decreased $0.1
        billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods increased $4.3 billion to $178.9 billion in April.
   Imports of goods on a Census basis increased $4.3 billion.
      * Capital goods increased $2.5 billion.
         o Civilian aircraft increased $0.8 billion.
         o Computers increased $0.5 billion.
         o Electric apparatus increased $0.3 billion.
      * Industrial supplies and materials increased $1.1 billion.
         o Other petroleum products increased $0.3 billion.
	 o Crude oil increased $0.2 billion.
   Net balance of payments adjustments decreased $0.1 billion.

Imports of services increased $0.3 billion to $41.4 billion in April.
      * Transport increased $0.2 billion.

Real Goods in 2009 Dollars – Census Basis (Exhibit 11)

The real goods deficit increased $1.5 billion to $57.6 billion in April.
   * Real exports of goods increased $2.3 billion to $119.5 billion.
   * Real imports of goods increased $3.9 billion to $177.1 billion.

Revisions

Exports and imports of goods and services for all months through March 2016 shown in this release
reflect the incorporation of annual revisions to the goods and services series. See the "Notice"
in this release for a description of the revisions.

Revisions to March exports
   * Exports of goods were revised upward $0.4 billion.
   * Exports of services were revised upward $3.2 billion.

Revisions to March imports
   * Imports of goods were revised downward $0.7 billion.
   * Imports of services were revised downward $0.6 billion.

Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)

The April figures show surpluses, in billions of dollars, with South and Central America ($2.9),
Hong Kong ($1.6), Singapore ($0.9), United Kingdom ($0.7), OPEC ($0.5), Brazil ($0.4), and
Saudi Arabia ($0.3). Deficits were recorded, in billions of dollars, with China ($26.6),
European Union ($11.8), Japan ($6.0), Germany ($5.8), Mexico ($5.1), South Korea ($3.0),
Italy ($2.5), France ($1.7), India ($1.6), Taiwan ($1.1), and Canada ($0.1).

   * The deficit with France increased $0.7 billion to $1.7 billion in April. Exports decreased
     $0.3 billion to $2.5 billion and imports increased $0.4 billion to $4.2 billion.
   * The surplus with Hong Kong decreased $0.6 billion to $1.6 billion in April. Exports
     decreased $0.4 billion to $2.2 billion and imports increased $0.2 billion to $0.7 billion.

Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis
(Exhibit 20)

The first quarter figures show surpluses, in billions of dollars, with South and Central America
($20.9), OPEC ($8.4), Hong Kong ($7.5), Brazil ($6.4), United Kingdom ($4.0), Singapore ($3.9),
Saudi Arabia ($3.4), and Canada ($2.0). Deficits were recorded, in billions of dollars, with
China ($81.6), European Union ($21.6), Germany ($17.6), Mexico ($15.7), Japan ($13.6), India ($7.5),
Italy ($7.4), South Korea ($6.5), France ($3.3), and Taiwan ($2.5).

   * The deficit with the European Union decreased $4.0 billion to $21.6 billion in the first quarter.
     Exports decreased less than $0.1 billion to $125.8 billion and imports decreased $4.1 billion
     to $147.4 billion.
   * The deficit with Japan decreased $1.3 billion to $13.6 billion in the first quarter. Exports
     increased $0.2 billion to $26.2 billion and imports decreased $1.1 billion to $39.7 billion.

NOTES:
   * All statistics referenced are seasonally adjusted; statistics are on a balance of
     payments basis unless otherwise specified. Additional statistics, including not seasonally
     adjusted statistics and details for goods on a Census basis, are available in Exhibits 1-20b
     of this release. For information on data sources, definitions, revision procedures, and
     scheduled release dates through December 2016, see the information section on page A-1 of this
     release. The next release is July 6, 2016.

   * For definitions of goods on a balance of payments basis, goods on a Census basis, and net
     balance of payments adjustments, see the information section on page A-1 of this release.

NOTICE

Revisions to Goods and Services

In this release and in the accompanying "U.S. International Trade in Goods and Services: Annual
Revision for 2015" release (FT-900 Annual Revision), the U.S. Census Bureau and the U.S. Bureau
of Economic Analysis (BEA) are publishing revised statistics on trade in goods and services for
January 2013 to March 2016. The revised statistics will also be reflected in the "U.S. International
Transactions: First Quarter 2016 and Annual Revisions" report and in the international transactions
interactive database, both to be released by BEA on June 16, 2016.

This annual revision has not changed the overall trend in the goods and services balance. On an
annual basis, the goods and services deficit was revised downward 3.5 percent for 2013, downward
3.6 percent for 2014, and downward 7.3 percent for 2015. The goods deficit was nearly unrevised
for 2013 and was revised upward for 2014 and 2015; the services surplus was revised upward for
all three years.

Goods

Revised statistics on trade in goods reflect 1) corrections and adjustments to previously published
not seasonally adjusted statistics for goods on a Census basis, 2) recalculated seasonal and
trading-day adjustments, and 3) newly available and revised source data on balance of payments
BOP) adjustments, which are adjustments that BEA applies to goods on a Census basis to convert
them to a BOP basis. BOP adjustments are presented as net adjustments in this release.

Services

Revised statistics on trade in services reflect 1) newly available and revised source data primarily
from BEA surveys, including the results of BEA's benchmark survey on financial services, and from
U.S. Customs and Border Protection on the number of foreign residents traveling in the United States
that resulted in revisions to exports of both travel and transport services, 2) a refinement to
the methodology for estimating average expenditures by travelers, 3) revised seasonal adjustments,
and 4) revised temporal distributions of quarterly source data to monthly statistics (see the
information section on page A-4 of this release).

A preview of BEA's 2016 annual revision of the international transactions accounts was published
in the May 2016 Survey of Current Business. If you have questions, 
please contact BEA's Balance of Payments Division at (InternationalAccounts@bea.gov).

Changes to Country and Area Presentation

With this release and the release of the accompanying FT-900 Annual Revision, the area grouping
"Newly Industrialized Countries" has been removed from all relevant exhibits, and Hong Kong,
Singapore, South Korea, and Taiwan are presented in selected exhibits. These changes affect the
following exhibits:

   * Exhibits 14, 14a, 16a, 19, 20, 20a, and 20b of the FT-900
   * Exhibits 13, 15a, 18, 19, 19a, and 19b of the FT-900 Annual Revision
   * Exhibits 4 and 4a of the FT-900 Supplement

Change to OPEC

With this release, statistics for 2016 for the area grouping "OPEC" in Exhibits 20, 20a, and 20b
of the FT-900 include Indonesia, which rejoined on January 1, 2016. This change was implemented
for Exhibits 14, 17a, and 19 of the FT-900 and for Exhibit 4 of the FT-900 Supplement with the
March 4, 2016 release.

New U.S. Census Bureau Report on Advance Economic Indicators

On July 28, 2016, at 8:30 a.m., the Census Bureau will introduce a new release, "Advance Economic
Indicators Report." This summary level report will combine the release of advance statistics on
trade in goods, which are currently presented in the "Advance Report: U.S. International Trade
in Goods" release, with the release of new advance estimates for retail and wholesale inventories.
With this new report, the Census Bureau will discontinue the current version of the "Advance
Report: U.S. International Trade in Goods" release. The new report will:

   * Be released monthly, 25 to 29 calendar days after the close of the reference month.
   * Consist of three tables:
         o Table 1. U.S. International Trade in Goods by Principal End-Use Category, which presents
	   levels and percent changes for the advance statistics on trade in goods by principal
	   end-use categories. This table will include statistics for the reference month, the prior
	   two months, and the same reference month in the prior year. For example, the July 28
	   release will include statistics for June 2016, May 2016, April 2016, and June 2015.
	 o Table 2. Levels and Percent Changes for Inventories, which presents levels and percent
	   changes for the advance estimates for retail and wholesale inventories. This table will
	   include statistics for the reference month, the prior month, and the same reference month
	   in the prior year. For example, the July 28 release will include statistics for June 2016,
	   May 2016, and June 2015.
	 o Table 3. Estimated Measures of Sampling Variability, which presents estimated
	   measures of sampling variability for the advance estimates for retail and wholesale
	   inventories. This table will include statistics for the reference month, the prior
	   month, and the same reference month in the prior year. For example, the July 28
	   release will include statistics for June 2016, May 2016, and June 2015.

   * Contain both seasonally adjusted and not seasonally adjusted statistics and estimates.
   * Include statistics for international trade in goods on a Census basis by principal
     end-use category.
   * Not include statistics for trade in goods on a balance of payments basis or statistics
     for trade in services, which are both featured in the FT-900.
   * Include estimates for total retail inventories, for total retail inventories excluding
     motor vehicle and parts dealers, and for retail inventories for motor vehicle and parts
     dealers.
   * Include estimates for total merchant wholesale inventories excluding manufacturers'
     sales branches and offices, for total merchant wholesale durable goods inventories, and for
     total merchant wholesale nondurable goods inventories.

The release schedule for this report through December 2016 is:

    Statistical Month             Date          Day
       June                     07-28-16        Thu
       July			08-26-16	Fri
       August			09-29-16	Thu
       September		10-26-16	Wed
       October			11-25-16	Fri
       November                 12-29-16        Thu

If you have questions or need additional information, please contact the Census Bureau,
Economic Indicators Division, as outlined below:

International Trade Indicator Macro Analysis Branch	Retail Indicator Branch
(301) 763-2311						(301) 763-2713
(800) 549-0595, option 4				(800) 327-4389, option 1
(eid.international.trade.data@census.gov)               (eid.retail.indicator.branch@census.gov)

Wholesale Indicator Branch
(301) 763-6856
(800) 327-4389, option 3
(eid.wholesale.indicator.branch@census.gov)

To learn more about the FT-900 and other economic indicators the Census Bureau publishes, join
the Economic Indicators Division for the “Investigating Economic Indicators” Webinar series.
For more information, visit www.census.gov/econ/webinar.