News Release

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Thursday, November 4, 2021
CB 21-173
BEA 21-54

U.S. International Trade in Goods and Services, September 2021

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $80.9 billion in September, up $8.1 billion from $72.8 billion in August, revised.

U.S. International Trade in Goods and Services Deficit
Deficit:

$80.9 Billion

+11.2%°

Exports:

$207.6 Billion

-3.0%°

Imports:

$288.5 Billion

+0.6%°

Next release: Tuesday, December 7, 2021

(°) 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, November 4, 2021

Goods and Services Trade Deficit, Seasonally adjusted

Exports, Imports, and Balance (exhibit 1)

September exports were $207.6 billion, $6.4 billion less than August exports. September imports were $288.5 billion, $1.7 billion more than August imports.

The September increase in the goods and services deficit reflected an increase in the goods deficit of $8.9 billion to $98.2 billion and an increase in the services surplus of $0.8 billion to $17.2 billion.

Year-to-date, the goods and services deficit increased $158.7 billion, or 33.1 percent, from the same period in 2020. Exports increased $274.1 billion or 17.4 percent. Imports increased $432.8 billion or 21.1 percent.

COVID-19 Impact on International Trade in Goods and Services

The global pandemic and the economic recovery continued to impact international trade in September 2021. The full economic effects of the pandemic cannot be quantified in the statistics because the impacts are generally embedded in source data and cannot be separately identified.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit increased $2.6 billion to $74.7 billion for the three months ending in September.

  • Average exports decreased $0.8 billion to $211.4 billion in September.
  • Average imports increased $1.7 billion to $286.1 billion in September.

Year-over-year, the average goods and services deficit increased $12.3 billion from the three months ending in September 2020.

  • Average exports increased $37.0 billion from September 2020.
  • Average imports increased $49.3 billion from September 2020.

Exports (exhibits 3, 6, and 7)

Exports of goods decreased $7.1 billion to $142.7 billion in September.

   Exports of goods on a Census basis decreased $7.0 billion.

  • Industrial supplies and materials decreased $5.7 billion.
    • Nonmonetary gold decreased $1.9 billion.
    • Crude oil decreased $1.0 billion.
    • Other petroleum products decreased $0.9 billion.
    • Other precious metals decreased $0.9 billion.
  • Capital goods decreased $1.6 billion.
    • Semiconductors decreased $0.3 billion.
    • Civilian aircraft engines decreased $0.3 billion.
    • Computer accessories decreased $0.2 billion.
  • Consumer goods increased $0.7 billion.
    • Pharmaceutical preparations increased $1.5 billion.
    • Gem diamonds decreased $0.4 billion.

   Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.6 billion to $64.9 billion in September.

  • Travel increased $0.2 billion.
  • Financial services increased $0.1 billion.
  • Transport increased $0.1 billion.
  • Other business services increased $0.1 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods increased $1.9 billion to $240.9 billion in September.

   Imports of goods on a Census basis increased $2.1 billion.

  • Capital goods increased $2.5 billion.
    • Computers increased $1.2 billion.
    • Electric apparatus increased $0.5 billion.
  • Industrial supplies and materials increased $1.0 billion.
    • Organic chemicals increased $0.9 billion.
  • Automotive vehicles, parts, and engines decreased $2.2 billion.
    • Passenger cars decreased $1.7 billion.
  • Consumer goods decreased $0.1 billion.
    • Pharmaceutical preparations decreased $1.3 billion.
    • Gem diamonds decreased $0.7 billion.
    • Cell phones and other household goods increased $1.8 billion.

   Net balance of payments adjustments decreased $0.2 billion.

Imports of services decreased $0.2 billion to $47.6 billion in September.

  • Charges for the use of intellectual property decreased $0.6 billion. August imports included rights to broadcast the 2020 Summer Olympic Games.
  • Travel increased $0.2 billion.
  • Transport increased $0.2 billion.

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

The real goods deficit increased $9.5 billion to $111.0 billion in September.

  • Real exports of goods decreased $7.1 billion to $139.3 billion.
  • Real imports of goods increased $2.4 billion to $250.3 billion.

Revisions

Revisions to August exports

  • Exports of goods were revised up $0.1 billion.
  • Exports of services were revised up $0.2 billion.

Revisions to August imports

  • Imports of goods were revised down $0.1 billion.
  • Imports of services were revised down $0.1 billion.

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

The September figures show surpluses, in billions of dollars, with South and Central America ($3.8), Hong Kong ($1.5), and Brazil ($1.2). Deficits were recorded, in billions of dollars, with China ($31.5), European Union ($18.7), Mexico ($8.8), Germany ($5.7), Japan ($5.0), Canada ($4.7), South Korea ($3.8), Taiwan ($3.8), Italy ($3.5), India ($2.6), France ($1.8), Saudi Arabia ($0.5), United Kingdom ($0.1), and Singapore (less than $0.1).

  • The deficit with China increased $3.4 billion to $31.5 billion in September. Exports decreased $0.2 billion to $11.0 billion and imports increased $3.2 billion to $42.6 billion.
  • The deficit with Mexico increased $2.3 billion to $8.8 billion in September. Exports decreased $1.7 billion to $22.4 billion and imports increased $0.5 billion to $31.3 billion.
  • The deficit with Japan decreased $0.6 billion to $5.0 billion in September. Exports decreased $0.2 billion to $6.0 billion and imports decreased $0.8 billion to $11.0 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: December 7, 2021, at 8:30 A.M. EST
U.S. International Trade in Goods and Services, October 2021

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