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

Available for this release: Full Release (PDF - ) | Tables (XLS - )

The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.
This release is issued jointly with the Bureau of Census and is made available on both the Census and the BEA Web sites; to visit the Census site, click here.


                         U.S. Census Bureau
                  U.S. Bureau of Economic Analysis
                               NEWS
        U.S. Department of Commerce  Washington, D.C. 20230

                       FOR IMMEDIATE RELEASE
                 8:30 A.M. EDT FRIDAY, JUNE 9, 2006

CB06-87
BEA06-26
FT-900 (06-04)

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
                     Annual Revision for 2005

                              NOTICE

In this release and the accompanying "U.S. International Trade in Goods and Services:
April 2006," the U.S. Census Bureau and the U.S. Bureau of Economic Analysis
(BEA) are jointly publishing revised data on U.S. trade in goods for 2003-2005
and the first three months of 2006 and revised data on services for 1997-2005
and the first three months of 2006.

Goods

The 2005 not seasonally adjusted Census-basis goods data were revised to redistribute
monthly data that arrived too late for inclusion in the month of transaction but that
were included, initially, in the month in which the data were received.  In addition,
corrections were made to previously published data.  Once the redistributions of data
to the proper month of transaction and corrections were completed, factors for seasonal
adjustments and trading day adjustments were recomputed and the seasonally adjusted
current-dollar series were revised for 2003-2005 and the first three months of 2006.
Similar changes were made to the chain-weighted dollar series.

Services

The services estimates were revised for 1997-2005 and the first three months of 2006.
The revisions resulted from the incorporation of results from BEA's annual and quarterly
surveys. Revisions from these sources have an impact mostly on receipts and payments
for 2003-2005 and the first three months of 2006.  BEA has instituted a program of
quarterly surveys to better capture movements of large and volatile categories of
transactions, as well as to improve the coverage of transactions.  In addition, this
year's revisions include results from BEA's benchmark survey of foreign direct investment
in the United States for 2002 and from BEA's benchmark survey of financial services
transactions with unaffiliated foreigners for 2004.