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The first two pages of this release are shown in plain text below.
A PDF version of the entire release is also available and the tables from this release are available in an XLS spreadsheet.
Also available: a brief summary of highlights.
For plain text copies of the tables, please visit the Census web site.
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United States Department of
COMMERCE NEWS
Washington, D.C. 20230
ECONOMICS
AND
STATISTICS
ADMINISTRATION
------------
U.S. Census Bureau
U.S. Bureau of Economic Analysis
This release contains sensitive economic
data not to be released before 8:30 a.m. Wednesday,
April 14, 2004
CB-04-59 Press Copy
BEA-04-15
FT-900 (04-02)
For information on goods contact:
U.S. Census Bureau:
Haydn R. Mearkle (301) 763-2246
Nick Orsini (301) 763-2311
For information on services contact:
U.S. Bureau of Economic Analysis:
Technical: Christopher Bach (202) 606-9545
Media: Larry Moran (202) 606-2649
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
February 2004
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 February exports of $92.4
billion and imports of $134.5 billion resulted in a goods and services deficit
of $42.1 billion, $1.4 billion less than the $43.5 billion in January, revised.
February exports were $3.5 billion more than January exports of $88.8 billion.
February imports were $2.2 billion more than January imports of $132.3 billion.
In February, the goods deficit decreased $1.3 billion from January to $47.2
billion, and the services surplus increased $0.1 billion to $5.2 billion.
Exports of goods increased $3.2 billion to $65.1 billion, and imports of goods
increased $1.9 billion to $112.3 billion. Exports of services increased to
$27.3 billion from $26.9 billion, and imports of services increased to $22.2
billion from $21.9 billion.
In February, the goods and services deficit was up $3.5 billion from February
2003. Exports were up $9.7 billion, or 11.7 percent, and imports were up $13.2
billion, or 10.9 percent.
Goods
The January to February change in exports of goods reflected increases in
capital goods ($1.5 billion); industrial supplies and materials ($0.7 billion);
consumer goods ($0.3 billion); automotive vehicles, parts, and engines
($0.3 billion); other goods ($0.2 billion); and foods, feeds, and beverages
($0.1 billion).
The January to February change in imports of goods reflected increases in
industrial supplies and materials ($2.0 billion); automotive vehicles, parts,
and engines ($0.7 billion); other goods ($0.3 billion); and foods, feeds, and
beverages ($0.2 billion). Decreases occurred in capital goods ($0.8 billion)
and consumer goods ($0.6 billion).
The February 2003 to February 2004 change in exports of goods reflected increases
in capital goods ($3.2 billion); industrial supplies and materials ($1.9 billion);
consumer goods ($1.1 billion); automotive vehicles, parts, and engines
($0.4 billion); foods, feeds, and beverages ($0.3 billion); and other goods
($0.3 billion).
The February 2003 to February 2004 change in imports of goods reflected increases
in industrial supplies and materials ($3.6 billion); capital goods ($2.9 billion);
consumer goods ($1.8 billion); automotive vehicles, parts, and engines
($1.6 billion); foods, feeds, and beverages ($0.7 billion); and other goods
($0.2 billion).
Services
Services exports increased $0.4 billion from January to February. The increase
was mostly accounted for by increases in travel, other private services (which
includes items such as business, professional, and technical services, insurance
services, and financial services), and other transportation (which includes
freight and port services). Changes in the other categories of services exports
were small.
Services imports increased $0.3 billion from January to February. The increase
was mostly accounted for by increases in travel, other private services, other
transportation, and direct defense expenditures. Changes in the other categories
of services imports were small.
From February 2003 to February 2004, services exports increased $2.5 billion.
The largest increases were in other private services ($1.1 billion) and travel
($0.5 billion).
From February 2003 to February 2004, services imports increased $2.4 billion.
The largest increases were in other private services ($0.7 billion), other
transportation ($0.7 billion), and travel ($0.5 billion).
Goods and Services Moving Average
For the three months ending in February, exports of goods and services averaged
$90.4 billion, while imports of goods and services averaged $133.2 billion,
resulting in an average trade deficit of $42.7 billion. For the three months
ending in January, the average trade deficit was $41.5 billion, reflecting
average exports of $89.9 billion and average imports of $131.3 billion.
Selected Not Seasonally Adjusted Goods Details
The February figures showed surpluses, in billions of dollars, with Hong Kong
$0.7 (for January $0.3), Australia $0.6 ($0.4), Singapore $0.2 ($0.1), Egypt
$0.2 ($0.2), and Brazil $0.1 (deficit of $0.4). Deficits were recorded, in
billions of dollars, with China $8.3 ($11.5), Western Europe $8.1 ($6.6), the
European Union $7.4 ($5.9), Japan $6.1 ($5.3), Canada $5.0 ($5.3), OPEC $4.7
($4.7), Mexico $3.6 ($3.0), Korea $0.9 ($1.5), and Taiwan $0.7 ($1.1).
Advanced technology products (ATP) exports were $16.0 billion in February and
imports were $16.7 billion, resulting in a deficit of $0.7 billion. February
exports were $1.3 billion more than the $14.7 billion in January, while imports
were virtually the same as in January.
Revisions
Goods carry-over in February was $0.3 billion (0.5 percent) for exports and $1.0
billion (1.0 percent) for imports. For January, revised export carry-over was
$0.2 billion (0.3 percent), revised down from $0.3 billion (0.6 percent). For
January, revised import carry-over was $0.2 billion (0.2 percent), revised down
from $0.9 billion (0.9 percent).
Services exports for January were revised down $0.2 billion to $26.9 billion; the
revision was more than accounted for by downward revisions in travel and passenger
fares. Services imports for January were revised up $0.1 billion to $21.9
billion; the revision was mostly accounted for by upward revisions in travel and
passenger fares.
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