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Available for this release:  Full Release: PDF () | Information Section,  Tables: XLS (), Highlights ()
For plain text copies of the tables, please visit the Census web site.
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U.S. Census Bureau
U.S. Bureau of Economic Analysis
NEWS
U.S. Department of Commerce Washington, D.C. 20230
CB05-172
BEA05-52
FT-900 (05-10)
For information on goods contact:
U.S. Census Bureau:
Nick Orsini (301) 763-6959
Vanessa Ware (301) 763-2311
For information on services contact:
U.S. Bureau of Economic Analysis:
Technical: Christopher Bach (202) 606-9545
Media: Ralph Stewart (202) 606-2649
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
October 2005
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 October exports of $107.5 billion
and imports of $176.4 billion resulted in a goods and services deficit of $68.9
billion, $2.9 billion more than the $66.0 billion in September, revised. October
exports were $1.8 billion more than September exports of $105.8 billion. October
imports were $4.7 billion more than September imports of $171.8 billion.
In October, the goods deficit increased $2.6 billion from September to $73.9 billion,
and the services surplus decreased $0.3 billion to $5.0 billion. Exports of goods
increased $1.8 billion to $75.2 billion, and imports of goods increased $4.3 billion
to $149.1 billion. Exports of services were virtually unchanged at $32.3 billion,
and imports of services increased $0.3 billion to $27.3 billion.
In October, the goods and services deficit was up $13.3 billion from October 2004.
Exports were up $9.0 billion, or 9.2 percent, and imports were up $22.3 billion, or
14.5 percent.
Goods
The September to October change in exports of goods reflected increases in capital
goods ($1.8 billion); foods, feeds, and beverages ($0.2 billion); automotive vehicles,
parts, and engines ($0.2 billion); industrial supplies and materials ($0.1 billion);
and other goods ($0.1 billion). A decrease occurred in consumer goods ($0.6 billion).
The September to October change in imports of goods reflected increases in industrial
supplies and materials ($3.5 billion); automotive vehicles, parts, and engines
($0.8 billion); and consumer goods ($0.4 billion). Decreases occurred in foods,
feeds, and beverages ($0.2 billion); other goods ($0.1 billion); and capital goods
($0.1 billion).
The October 2004 to October 2005 change in exports of goods reflected increases in
capital goods ($2.8 billion); industrial supplies and materials ($1.1 billion);
automotive vehicles, parts, and engines ($0.7 billion); other goods ($0.7 billion);
consumer goods ($0.5 billion); and foods, feeds, and beverages ($0.3 billion).
The October 2004 to October 2005 change in imports of goods reflected increases in
industrial supplies and materials ($12.5 billion); consumer goods ($3.0 billion);
capital goods ($2.3 billion); automotive vehicles, parts, and engines ($1.4 billion);
other goods ($0.6 billion); and foods, feeds, and beverages ($0.5 billion).
Services
Services exports were virtually unchanged from September to October. Decreases in
travel and transfers under U.S. military sales contracts were mostly offset by
increases in other private services (which includes items such as business,
professional, and technical services, insurance services, and financial services) and
royalties and license fees. Changes in other categories of services exports were
small.
Services imports increased $0.3 billion from September to October. The increase was
mostly accounted for by increases in other transportation (which includes freight and
port services) and other private services. Changes in other categories of services
imports were small.
From October 2004 to October 2005, services exports increased $3.0 billion. The
largest increases were in other private services ($0.9 billion), travel ($0.8 billion),
and other transportation ($0.5 billion).
From October 2004 to October 2005, services imports increased $1.9 billion. The
largest increases were in other private services ($0.9 billion), other transportation
($0.6 billion), and travel ($0.2 billion).
Goods and Services Moving Average
For the three months ending in October, exports of goods and services averaged
$107.2 billion, while imports of goods and services averaged $171.8 billion,
resulting in an average trade deficit of $64.6 billion. For the three months ending
in September, the average trade deficit was $60.9 billion, reflecting average exports
of $106.9 billion and average imports of $167.9 billion.
Selected Not Seasonally Adjusted Goods Details
The October figures showed surpluses, in billions of dollars, with Singapore $0.7
(for September $0.5), Australia $0.7 ($0.7), Hong Kong $0.3 ($0.5), and Egypt $0.1
(virtually zero). Deficits were recorded, in billions of dollars, with China $20.5
($20.1), Europe $14.5 ($12.0), the European Union $12.1 ($10.1), OPEC $9.4 ($9.1),
Canada $8.1 ($7.4), Japan $7.4 ($6.4), Mexico $4.8 ($4.3), Taiwan $1.3 ($1.3),
Korea $1.2 ($1.2), and Brazil $1.0 ($0.7).
Advanced technology products (ATP) exports were $18.8 billion in October and imports
were $23.8 billion, resulting in a deficit of $4.9 billion. October exports were
$1.8 billion more than the $17.1 billion in September, while imports were $1.1
billion more than the $22.6 billion in September.
Revisions
Goods carry-over in October was $0.2 billion (0.3 percent) for exports and $1.7
billion (1.1 percent) for imports. For September, revised export carry-over was $0.1
billion (0.1 percent), revised down from $0.2 billion (0.3 percent). For September,
revised import carry-over was $0.2 billion (0.1 percent), revised down from $1.2
billion (0.8 percent).
Services exports for September were revised up $0.5 billion to $32.3 billion.
Upward revisions in other private services and travel were partly offset by a
downward revision in royalties and license fees. Services imports for September
were revised up $0.2 billion to $27.0 billion. Upward revisions in other private
services and other transportation were partly offset by downward revisions in travel
and royalties and license fees.
NOTICE TO USERS OF THE EXPORT CONSTANT DOLLAR
(REAL) DATA SERIES
The Census Bureau has identified a processing error that caused an incorrect deflator
to be applied to the export data for April 2005 through September 2005, as published
in exhibits 10 and 11 of the September 2005 issue of the U.S. International Trade in
Goods and Services report. The revision procedure for the real dollars requires
compiling new deflators at the end of each quarter and applying them to the current
and previous quarter. As new deflators were compiled for the September 2005 release,
a processing error caused the deflator for semiconductors to be compiled incorrectly.
With this release, exhibits 10 and 11 have been revised to reflect the current
deflators and are available at www.census.gov/trade and www.bea.gov/bea/di/home/trade.htm.
The revisions do not affect the chained-dollar import, export, or gross domestic
product estimates produced by the Bureau of Economic Analysis.
If you have further questions, contact the U.S. Census Bureau, Foreign Trade Division at:
(301) 763-2311 or e-mail Vanessa Ware at vanessa.ware@census.gov.
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