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News Release: U.S. International Trade in Goods and Services


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.
For plain text copies of the tables, please visit the Census web site.

                     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,
March 10, 2004

CB-04-38    Press Copy
BEA-04-10
FT-900 (04-01)

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
                           January 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 January exports of $89.0
billion and imports of $132.1 billion resulted in a goods and services deficit
of $43.1 billion, $0.4 billion more than the $42.7 billion in December, revised.
January exports were $1.1 billion less than December exports of $90.1 billion.
January imports were $0.7 billion less than December imports of $132.8 billion.

In January, the goods deficit increased $0.5 billion from December to $48.4
billion, and the services surplus increased $0.1 billion to $5.3 billion.
Exports of goods decreased $1.1 billion to $61.9 billion, and imports of goods
decreased $0.6 billion to $110.3 billion.  Exports of services were virtually
unchanged at $27.1 billion, and imports of services decreased to $21.8 billion,
from $21.9 billion.

In January, the goods and services deficit was up $3.1 billion from January 2003.
Exports were up $7.0 billion, or 8.5 percent, and imports were up $10.0 billion,
or 8.2 percent.


Goods

The December to January change in exports of goods reflected decreases in foods,
feeds, and beverages ($0.4 billion); capital goods ($0.2 billion); consumer goods
($0.2 billion); automotive vehicles, parts, and engines ($0.2 billion); and
industrial supplies and materials ($0.1 billion).  An increase occurred in other
goods ($0.1 billion).

The December to January change in imports of goods reflected decreases in
automotive vehicles, parts, and engines ($1.0 billion); other goods
($0.1 billion); foods, feeds, and beverages ($0.1 billion); and capital goods
($0.1 billion).  An increase occurred in industrial supplies and materials
($0.7 billion).  Consumer goods were virtually unchanged.  The January 2003 to
January 2004 change in exports of goods reflected increases in capital goods
($2.9 billion); industrial supplies and materials ($1.1 billion); consumer goods
($0.4 billion); other goods ($0.3 billion); automotive vehicles, parts, and
engines ($0.1 billion); and foods, feeds, and beverages ($0.1 billion).

The January 2003 to January 2004 change in imports of goods reflected increases
in industrial supplies and materials ($2.4 billion); capital goods
($2.4 billion); consumer goods ($2.4 billion); automotive vehicles, parts, and
engines ($0.8 billion); and foods, feeds, and beverages ($0.3 billion).  Other
goods were virtually unchanged.


Services

Services exports were unchanged from December to January.  A decrease in travel
and passenger fares was offset by an increase in other private services (which
includes items such as business, professional, and technical services, insurance
services, and financial services).  Changes in the other categories of services
exports were small.

Services imports decreased $0.1 billion from December to January.  Decreases in
travel and passenger fares more than offset small increases in nearly all other
categories of services imports.

From January 2003 to January 2004, services exports increased $2.2 billion.  The
largest increases were in other private services ($1.0 billion), travel
($0.4 billion), and royalties and license fees ($0.3 billion).

From January 2003 to January 2004, services imports increased $1.7 billion.  The
largest increases were in other private services ($0.7 billion) and other
transportation ($0.5 billion), which includes freight and port services.


Goods and Services Moving Average

For the three months ending in January, exports of goods and services averaged
$89.9 billion, while imports of goods and services averaged $131.3 billion,
resulting in an average trade deficit of $41.3 billion.  For the three months
ending in December, the average trade deficit was $40.9 billion, reflecting
average exports of $89.7 billion and average imports of $130.5 billion.


Selected Not Seasonally Adjusted Goods Details

The January figures showed surpluses, in billions of dollars, with Australia
$0.4 (for December $0.5), Hong Kong $0.3 ($0.7), Egypt $0.2 ($0.1), and
Singapore $0.1 (virtually zero).  Deficits were recorded, in billions of
dollars, with China $11.5 ($9.9), Western Europe $6.6 ($11.1), The European
Union $5.9 ($10.3), Japan $5.3 ($5.7), Canada $5.2 ($4.4), OPEC $4.7 ($4.6),
Mexico $3.0 ($3.1), Korea $1.5 ($1.4), Taiwan $1.1 ($0.8), and Brazil $0.4 ($0.5).

Advanced technology products (ATP) exports were $14.7 billion in January and
imports were $16.7 billion, resulting in a deficit of $2.0 billion.  January
exports were $2.0 billion less than the $16.7 billion in December, while imports
were $3.4 billion less than the $20.1 billion in December.


Revisions

Goods carry-over in January was $0.3 billion (0.6 percent) for exports and $0.9
billion (0.9 percent) for imports.  For December, revised export carry-over was
$0.2 billion (0.3 percent), revised down from $0.4 billion (0.6 percent).  For
December, revised import carry-over was $0.3 billion (0.3 percent), revised down
from $1.3 billion (1.2 percent).

Goods and services exports and imports for all months in 2003 were revised in
order to align the seasonally adjusted monthly estimates with the annual totals.

Services exports and imports for July through December 2003 reflect the
incorporation of more comprehensive and revised quarterly and monthly data.  For
services exports, the largest revision over the entire period was in other private
services.  For services imports, the largest revisions over the entire period were
in other private services, travel, and royalties and license fees.

Services exports for December were revised down $0.3 billion to $27.1 billion;
the revision was more than accounted for by a downward revision in travel.
Services imports for December were revised up $0.2 billion to $21.9 billion; the
revision was more than accounted for by upward revisions in other private
services, other transportation, and royalties and license fees.