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Available for this release:  Full Release: PDF (351 kb) | Information Section,  Tables: XLS (309 kb), Highlights (54 kb)
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
CB05-132
BEA05-40
FT-900 (05-07)
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) 606-9690
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
August 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 August exports of $108.2 billion
and imports of $167.2 billion resulted in a goods and services deficit of $59.0
billion, compared with $58.0 billion in July, revised. August exports were $1.8
billion more than July exports of $106.4 billion. August imports were $2.9 billion
more than July imports of $164.3 billion.
In August, the goods deficit increased $1.3 billion from July to $63.8 billion, and
the services surplus increased $0.2 billion to $4.8 billion. Exports of goods
increased $1.6 billion to $76.7 billion, and imports of goods increased $2.9 billion
to $140.5 billion. Exports of services increased $0.2 billion to $31.5 billion, and
imports of services were virtually unchanged at $26.7 billion.
In August, the goods and services deficit was up $4.8 billion from August 2004.
Exports were up $11.7 billion, or 12.1 percent, and imports were up $16.5 billion,
or 10.9 percent.
Goods
The July to August change in exports of goods reflected increases in capital goods
($1.1 billion); automotive vehicles, parts, and engines ($0.3 billion); industrial
supplies and materials ($0.2 billion); other goods ($0.2 billion); and foods, feeds,
and beverages ($0.1 billion). Consumer goods were virtually unchanged.
The July to August change in imports of goods reflected increases in industrial
supplies and materials ($1.7 billion); automotive vehicles, parts, and engines
($1.2 billion); capital goods ($0.2 billion); and foods, feeds, and beverages
($0.1 billion). Decreases occurred in other goods ($0.2 billion) and consumer goods
($0.1 billion).
The August 2004 to August 2005 change in exports of goods reflected increases in
capital goods ($3.3 billion); industrial supplies and materials ($3.1 billion);
consumer goods ($0.8 billion); foods, feeds, and beverages ($0.6 billion); other
goods ($0.6 billion); and automotive vehicles, parts, and engines ($0.6 billion).
The August 2004 to August 2005 change in imports of goods reflected increases in
industrial supplies and materials ($7.2 billion); capital goods ($3.0 billion);
consumer goods ($2.7 billion); automotive vehicles, parts, and engines ($1.7 billion);
foods, feeds, and beverages ($0.5 billion); and other goods ($0.2 billion).
Services
Services exports increased $0.2 billion from July to August. The increase was mostly
accounted for by increases in other private services, which includes items such as
business, professional, and technical services, insurance services, and financial
services ($0.2 billion), and royalties and license fees ($0.1 billion), which were
partly offset by a decrease in transfers under U.S. military sales contracts
($0.1 billion). Changes in other categories of services exports were small.
Services imports were virtually unchanged from July to August. A decrease in travel
($0.1 billion) was nearly offset by small increases in several other categories of
services imports.
From August 2004 to August 2005, services exports increased $3.1 billion. The
largest increases were in travel ($0.9 billion), royalties and license fees
($0.7 billion), and other private services ($0.6 billion).
From August 2004 to August 2005, services imports increased $1.1 billion. The
largest increases were in other private services ($0.7 billion), travel ($0.4 billion),
and other transportation, which includes freight and port services, ($0.4 billion).
Goods and Services Moving Average
For the three months ending in August, exports of goods and services averaged $106.8
billion, while imports of goods and services averaged $165.6 billion, resulting in an
average trade deficit of $58.8 billion. For the three months ending in July, the
average trade deficit was $57.9 billion, reflecting average exports of $106.0 billion
and average imports of $163.8 billion.
Selected Not Seasonally Adjusted Goods Details
The August figures showed surpluses, in billions of dollars, with Australia $0.7
(for July $0.6), Hong Kong $0.6 ($0.5), Singapore $0.4 ($0.4), and Egypt $0.1 ($0.1).
Deficits were recorded, in billions of dollars, with China $18.5 ($17.7), Europe
$12.8 ($13.1), the European Union $11.3 ($11.2), OPEC $9.0 ($8.9), Canada $6.7 ($6.0),
Japan $6.6 ($6.6), Mexico $4.2 ($3.5), Korea $1.3 ($1.0), Taiwan $0.8 ($1.1), and
Brazil $0.6 ($0.8).
Advanced technology products (ATP) exports were $18.5 billion in August and imports
were $21.8 billion, resulting in a deficit of $3.3 billion. August exports were $1.2
billion more than the $17.3 billion in July, while imports were $0.3 billion more
than the $21.5 billion in July.
Revisions
Goods carry-over in August was $0.2 billion (0.3 percent) for exports and $1.3
billion (0.9 percent) for imports. For July, revised export carry-over was $0.2
billion (0.2 percent), revised down from $0.4 billion (0.5 percent). For July,
revised import carry-over was $0.3 billion (0.2 percent), revised down from $1.0
billion (0.7 percent).
Services exports for July were virtually unchanged at $31.3 billion. Services imports
for July were virtually unchanged at $26.7 billion.
NOTICE
New Preliminary Export and Import Goods Data for the Gulf Region
On October 21, 2005 at 10 a.m. the Census Bureau will release preliminary September
2005 export and import data for districts in the Gulf Region affected by the hurricanes,
three weeks earlier than the official September release. The report will be available
at www.census.gov/trade and contains preliminary export and import totals for each of
the ports in the Gulf region and aggregated industry data for five Customs Districts.
This release will pertain solely to Census basis goods trade data involving districts
in the region affected by hurricanes Katrina and Rita, and will not include any data on
trade in services. An example of the preliminary release can be found at
www.census.gov/foreign-trade/Press-Release/gulf_index.html.
The Census Bureau requested, and the Office of Management and Budget (OMB) granted,
an exception under Section 7 of OMB Statistical Policy Directive No. 3 on the
Compilation, Release, and Evaluation of Principal Federal Economic Indicators to the
previously approved schedule of release dates. The OMB exception, for a period not to
exceed six months, was for the sole purpose of providing public release of preliminary
monthly trade statistics for the Gulf region.
The data will provide more timely trade statistics on export and import flows in this
major international trade gateway. The statistics in this release will have several
limitations, the most significant being the coverage of the preliminary data in relation
to the final data. Analysis of Gulf Region export and import goods data indicates the
value of preliminary data should be between 70 and 90 percent of the final value
reported in the regular monthly trade report, with wider variations by district, port,
and industry group.
Preliminary data will be released for the next four months at 10 a.m. on the dates
provided below. OMB, in consultation with the Census Bureau, will determine if an
optional two-month extension is warranted.
Statistical Month Date Day
September 2005 10-21-05 Friday
October 2005 11-21-05 Monday
November 2005 12-20-05 Tuesday
December 2005 01-20-06 Friday
If you have questions, please contact nick.orsini@census.gov.
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