Updates to Goods and Services

In this release and in the accompanying “U.S. International Trade in Goods and Services, April 2025” release (FT–900), 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 are revised beginning with 2020, and statistics on trade in services are revised beginning with 2018.

Revised statistics on trade in goods reflect:

• Corrections and adjustments to previously published not seasonally adjusted statistics for goods on a Census basis.
• End-use reclassifications of several commodities.
• Recalculated seasonal and trading-day adjustments.
• Newly available and revised source data on balance of payments (BOP) adjustments, which are adjustments that BEA applies to goods on a Census basis to convert them to a BOP basis. See the “Goods (balance of payments basis)” section in the FT–900 explanatory notes for more information.

Revised statistics on trade in services reflect:

• Newly available and revised source data, primarily from BEA surveys of international services.
• Corrections and adjustments to previously published not seasonally adjusted statistics.
• Recalculated seasonal adjustments.
• Revised temporal distributions of quarterly source data to monthly statistics. See the “Services” section in the FT–900 explanatory notes for more information.

This annual revision has not changed the overall trend in the annual goods and services deficit. The deficit was revised down for all years. The largest revision was for 2022 when the deficit was revised down 2.2 percent, reflecting an upward revision to the services surplus.

The revised statistics for goods on a BOP basis and for services will also be included in the “U.S. International Transactions, 1st Quarter 2025 and Annual Update” report and in BEA’s Interactive Data Application, both to be released by BEA on June 24, 2025. For more information, see “Preview of the 2025 Annual Update of the International Economic Accounts” in the Survey of Current Business.

If you have questions or need additional information, please contact the Census Bureau, Economic Indicators Division, International Trade Macro Analysis Branch, on (800) 549-0595, option 4, or at eid.international.trade.data@census.gov or BEA, Balance of Payments Division, at InternationalAccounts@bea.gov

Impact of Canada Border Services Agency’s (CBSA) Release of CBSA Assessment and Revenue Management (CARM)

The CBSA introduced a new accounting system (CARM) on October 21, 2024. As a result, importers in Canada have experienced delays in filing shipment information. These delays affected the compilation of statistics on U.S. exports of goods to Canada for September 2024 through April 2025, which are derived from data compiled by Canada through the United States - Canada Data Exchange. A dollar estimate of the filing backlog was included in estimates for late receipts and, following the Census Bureau’s customary practice for late receipt estimates, was included in the export end-use category “Other goods” as well as in exports to Canada. With this release and the release of the FT-900, filing backlog estimates for 2024 have been replaced with the actual transactions reported by the Harmonized System classification. Filing backlog estimates for 2025 will be revised in June 2026.

If you have questions or need additional information, please contact the Census Bureau, Economic Indicators Division, International Trade Macro Analysis Branch, on 800-549-0595, option 4, or at eid.international.trade.data@census.gov.