FOR IMMEDIATE RELEASE AT 8:30 A.M. EST, Wednesday, January 6, 2016
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U.S. Census Bureau U.S. Bureau of Economic Analysis NEWS U.S. Department of Commerce * Washington, DC 20230 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES NOVEMBER 2015 The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $42.4 billion in November, down $2.2 billion from $44.6 billion in October, revised. November exports were $182.2 billion, $1.6 billion less than October exports. November imports were $224.6 billion, $3.8 billion less than October imports. The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.3 billion to $61.3 billion and a decrease in the services surplus of $0.1 billion to $18.9 billion. Year-to-date, the goods and services deficit increased $25.2 billion, or 5.5 percent, from the same period in 2014. Exports decreased $99.0 billion or 4.6 percent. Imports decreased $73.7 billion or 2.8 percent. Goods and Services Three-Month Moving Averages (Exhibit 2) The average goods and services deficit decreased $2.1 billion to $43.1 billion for the three months ending in November. * Average exports of goods and services decreased $0.7 billion to $184.3 billion in November. * Average imports of goods and services decreased $2.8 billion to $227.4 billion in November. Year-over-year, the average goods and services deficit increased $1.2 billion from the three months ending in November 2014. * Average exports of goods and services decreased $12.1 billion from November 2014. * Average imports of goods and services decreased $10.9 billion from November 2014. Exports (Exhibits 3, 6, and 7) Exports of goods decreased $1.4 billion to $122.2 billion in November. Exports of goods on a Census basis decreased $1.9 billion. * Other goods decreased $0.7 billion. * Industrial supplies and materials decreased $0.7 billion. o Nonmonetary gold decreased $0.5 billion. * Consumer goods decreased $0.6 billion. o Cell phones and other household goods decreased $0.3 billion. Net balance of payments adjustments increased $0.5 billion. Exports of services decreased $0.1 billion to $60.0 billion in November. * Transport, which includes freight and port services and passenger fares, decreased $0.1 billion. * Government goods and services decreased $0.1 billion. * Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion. Imports (Exhibits 4, 6, and 8) Imports of goods decreased $3.7 billion to $183.5 billion in November. Imports of goods on a Census basis decreased $3.5 billion. * Consumer goods decreased $3.0 billion. o Cell phones and other household goods decreased $1.8 billion. o Pharmaceutical preparations decreased $0.6 billion. * Capital goods decreased $0.6 billion. o Computers decreased $0.3 billion. Net balance of payments adjustments decreased $0.2 billion. Imports of services decreased $0.1 billion to $41.1 billion in November. * Travel (for all purposes including education) decreased $0.1 billion. Real Goods in 2009 Dollars – Census Basis (Exhibit 11) The real goods deficit decreased $1.4 billion to $59.6 billion in November. * Real exports of goods decreased $1.3 billion to $118.2 billion. * Real imports of goods decreased $2.8 billion to $177.8 billion. Revisions Revisions to October exports * Exports of goods were revised downward $0.2 billion. * Exports of services were revised downward $0.1 billion. Revisions to October imports * Imports of goods were revised upward $0.4 billion. * Imports of services were revised upward less than $0.1 billion. Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19) The November figures show surpluses, in billions of dollars, with South and Central America ($2.7), OPEC ($1.1), Saudi Arabia ($0.4), United Kingdom ($0.3), and Brazil ($0.1). Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($12.8), Japan ($5.6), Germany ($5.5), Mexico ($5.4), Italy ($2.4), South Korea ($2.3), India ($2.1), France ($2.1), and Canada ($0.9). * The deficit with Mexico decreased $0.9 billion to $5.4 billion in November. Exports decreased $0.9 billion to $18.8 billion and imports decreased $1.8 billion to $24.2 billion. * The surplus with members of OPEC increased $0.7 billion to $1.1 billion in November. Exports increased $1.3 billion to $6.5 billion and imports increased $0.6 billion to $5.4 billion. NOTES: * 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 scheduled release dates through December 2016, see the information section on page A-1 of this release. The next release is February 5, 2016. * For definitions of goods on a balance of payments basis, goods on a Census basis, and net balance of payments adjustments, see the information section on page A-1 of this release. NOTICE With the release of the “U.S. International Trade in Goods and Services: January 2016” report (FT-900) and the accompanying FT-900 Supplement on March 4, 2016, the following changes will be made: Changes to Exhibits 7, 8, and 17a of the FT-900 Commodity detail will be presented for the end-use category Automotive vehicles, parts, and engines in Exhibits 7 and 8. The following countries will be removed from Exhibit 17a because of consistently low crude oil imports: Bolivia, Congo (Kinshasa), Ghana, Guatemala, Kazakhstan, Oman, Peru, Thailand, Trinidad and Tobago, Vietnam, and Yemen. Examples of modified Exhibits 7, 8, and 17a are available at www.census.gov/foreign-trade/statistics/notices/20151204_ft900.html. Change to OPEC OPEC will include Indonesia, which rejoined on January 1, 2016. This change will affect Exhibits 14, 17a, and 19 of the FT-900 and Exhibit 4 of the FT-900 Supplement. This change will also affect Exhibits 20, 20a, and 20b of the FT-900 with the April 2016 release on June 3, 2016. If you have questions or need additional information, please contact the U.S. Census Bureau, Economic Indicators Division, on (800) 549-0595, option 4, or at email@example.com. To learn more about the FT-900 and other economic indicators the Census Bureau publishes, join the Economic Indicators Division for the “Investigating Economic Indicators” Webinar series. For more information, visit www.census.gov/econ/webinar.