News Release

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, THURSDAY, JUNE 6, 2019
CB 19-76
BEA 19-24

U.S. International Trade in Goods and Services, April 2019

ERRATA Exhibits 19 and 19b in the "U.S. International Trade in Goods and Services, Annual Revision" report and exhibits 20 and 20b in the "U.S. International Trade in Goods and Services, April 2019" report were updated on June 19, 2019, to correct statistics for services imports from Brazil and the South/Central America and "All other countries" groupings for quarters 2014Q1-2019Q1 and for annual 2016 and 2018. The release text and relevant tables in "U.S. Trade in Goods and Services by Selected Countries and Areas, 1999-present" were also updated to reflect this correction.
 

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.8 billion in April, down $1.1 billion from $51.9 billion in March, revised.

U.S. International Trade in Goods and Services Deficit
Deficit: $50.8 Billion -2.1%°
Exports: $206.8 Billion -2.2%°
Imports: $257.6 Billion -2.2%°

Next release: July 3, 2019

(°) Statistical significance is not applicable or not measurable.
Data adjusted for seasonality but not price changes

Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, June 6, 2019

Exports, Imports, and Balance (exhibit 1)

April exports were $206.8 billion, $4.6 billion less than March exports. April imports were $257.6 billion, $5.7 billion less than March imports.

The April decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.0 billion to $71.7 billion and an increase in the services surplus of $0.1 billion to $20.9 billion.

Year-to-date, the goods and services deficit increased $4.1 billion, or 2.0 percent, from the same period in 2018. Exports increased $8.3 billion or 1.0 percent. Imports increased $12.4 billion or 1.2 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit decreased $0.6 billion to $50.9 billion for the three months ending in April.

  • Average exports decreased $0.2 billion to $209.3 billion in April.
  • Average imports decreased $0.8 billion to $260.2 billion in April.

Year-over-year, the average goods and services deficit increased $1.2 billion from the three months ending in April 2018.

  • Average exports increased $1.2 billion from April 2018.
  • Average imports increased $2.3 billion from April 2018.

Exports (exhibits 3, 6, and 7)

Exports of goods decreased $4.4 billion to $136.9 billion in April.

  Exports of goods on a Census basis decreased $4.5 billion.

  • Capital goods decreased $2.7 billion.
    • Civilian aircraft decreased $2.3 billion.
  • Automotive vehicles, parts, and engines decreased $0.8 billion.
    • Passenger cars decreased $0.4 billion.
    • Automotive parts and accessories decreased $0.3 billion.
  • Consumer goods decreased $0.6 billion.
    • Pharmaceutical preparations decreased $0.4 billion.

  Net balance of payments adjustments increased $0.1 billion.

Exports of services decreased $0.2 billion to $69.9 billion in April.

  • Travel (for all purposes including education) decreased $0.1 billion.
  • Maintenance and repair services decreased $0.1 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods decreased $5.4 billion to $208.7 billion in April.

  Imports of goods on a Census basis decreased $5.4 billion.

  • Capital goods decreased $1.7 billion.
    • Semiconductors decreased $0.9 billion.
    • Civilian aircraft engines decreased $0.4 billion.
  • Consumer goods decreased $1.1 billion.
    • Gem diamonds decreased $0.7 billion.
  • Automotive vehicles, parts, and engines decreased $1.0 billion.
    • Passenger cars decreased $0.6 billion.
  • Other goods decreased $0.8 billion.
  • Industrial supplies and materials decreased $0.6 billion.

  Net balance of payments adjustments decreased less than $0.1 billion.

Imports of services decreased $0.3 billion to $49.0 billion in April.

  • Transport decreased $0.3 billion.

Real Goods in 2012 Dollars – Census Basis (exhibit 11)

The real goods deficit decreased $1.1 billion to $81.9 billion in April.

  • Real exports of goods decreased $5.1 billion to $146.0 billion.
  • Real imports of goods decreased $6.2 billion to $227.9 billion.

Revisions

Exports and imports of goods and services for all months through March 2019 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 down $0.4 billion.
  • Exports of services were revised down $0.2 billion.

Revisions to March imports

  • Imports of goods were revised down $0.1 billion.
  • Imports of services were revised up $1.4 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 ($4.2), Hong Kong ($2.4), Brazil ($0.9), and Singapore ($0.6). Deficits were recorded, in billions of dollars, with China ($29.4), European Union ($15.1), Mexico ($7.9), Japan ($6.5), Germany ($5.4), Italy ($3.1), Taiwan ($2.0), France ($2.0), Canada ($1.8), South Korea ($1.5), India ($1.3), United Kingdom ($0.4), Saudi Arabia ($0.2), and OPEC (less than $0.1).

  • The deficit with the European Union decreased $1.0 billion to $15.1 billion in April. Exports decreased $0.4 billion to $27.0 billion and imports decreased $1.4 billion to $42.1 billion.
  • The deficit with Canada decreased $0.9 billion to $1.8 billion in April. Exports decreased $0.4 billion to $24.6 billion and imports decreased $1.3 billion to $26.4 billion.
  • The deficit with China increased $2.1 billion to $29.4 billion in April. Exports decreased $1.8 billion to $8.5 billion and imports increased $0.3 billion to $37.9 billion.

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

Statistics on trade in goods and services by country and area are only available quarterly, with a one-month lag. With this release, first-quarter figures are now available.

The first-quarter figures show surpluses, in billions of dollars, with South and Central America ($22.4), Brazil ($8.1), Hong Kong ($7.4), OPEC ($6.6), United Kingdom ($5.0), Singapore ($4.2), Canada ($4.0), and Saudi Arabia ($1.5). Deficits were recorded, in billions of dollars, with China ($80.8), European Union ($28.4), Mexico ($23.0), Germany ($16.7), Japan ($15.6), Italy ($9.4), India ($7.1), Taiwan ($5.0), France ($4.6), and South Korea ($4.1).

  • The deficit with China decreased $22.9 billion to $80.8 billion in the first quarter. Exports increased $4.9 billion to $41.4 billion and imports decreased $18.0 billion to $122.2 billion.
  • The balance with Saudi Arabia shifted from a deficit of $2.5 billion to a surplus of $1.5 billion in the first quarter. Exports increased $1.0 billion to $6.3 billion and imports decreased $3.0 billion to $4.8 billion.
  • The deficit with South Korea increased $1.8 billion to $4.1 billion in the first quarter. Exports decreased $1.5 billion to $19.7 billion and imports increased $0.3 billion to $23.8 billion.

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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, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau's Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA's website at www.bea.gov/news/schedule.

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Next release: July 3, 2019, at 8:30 A.M. EDT
U.S. International Trade in Goods and Services, May 2019

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Notice

Updates to Goods and Services

In this release and in the accompanying "U.S. International Trade in Goods and Services, Annual Revision" release, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are publishing revised statistics on trade in goods and services. With these releases, statistics on trade in goods, on both a Census basis and a balance of payments (BOP) basis, and statistics on trade in services are revised beginning with 2014.

Revised seasonally adjusted statistics reflect the incorporation of recalculated seasonal and trading-day adjustments beginning with 2014. With the annual update in 2018, BEA extended the period for incorporating revised seasonal adjustments for services statistics from 3 to 5 years. With this annual update, the Census Bureau and BEA have also extended the period for incorporating revised seasonal and trading-day adjustments for goods statistics from 3 to 5 years.

In addition, revised statistics on trade in goods beginning with 2016 reflect 1) corrections and adjustments to previously published not seasonally adjusted statistics for goods on a Census basis, 2) reclassifications of several end-use commodities, and 3) newly available and revised source data on BOP adjustments, which are adjustments that BEA applies to goods on a Census basis to convert them to a BOP basis. For more information on BOP adjustments, see the "Goods (balance of payments basis)" section in the explanatory notes.

Revised statistics on trade in services beginning with 2016 also reflect 1) newly available and revised source data, primarily from BEA's surveys of international services transactions, and 2) revised temporal distributions of quarterly source data to monthly statistics (see the "Services" section in the explanatory notes for more information).

On an annual basis, the goods and services deficit was revised up 0.2 percent for 2016, was revised down 0.4 percent for 2017, and was revised up 0.9 percent for 2018. The goods deficit and the services surplus were both revised down for all 3 years.

The revised statistics for goods on a BOP basis and for services will also be included in the "U.S. International Transactions, First Quarter 2019 and Annual Update" report and in the international transactions interactive database, both to be released by BEA on June 20, 2019. A preview of BEA's 2019 annual update of the international transactions accounts was published in the April 2019 Survey of Current Business, BEA's monthly online journal.

If you have questions, please contact the Census Bureau, Economic Indicators Division, on (800) 549-0595, option 4, or at [email protected] or BEA, Balance of Payments Division, at [email protected].