Geographic Seasonal Adjustment of International Trade | U.S. Bureau of Economic Analysis (BEA)

Are the seasonally adjusted data in exhibit 20 of the U.S. International Trade in Goods and Services release the same as the data in table 2.2 and table 3.2 of the U.S. International Transactions Accounts (ITAs)?

Read more about Are the seasonally adjusted data in exhibit 20 of the U.S. International Trade in Goods and Services release the same as the data in table 2.2 and table 3.2 of the U.S. International Transactions Accounts (ITAs)?

The data in exhibits 20a and 20b of the U.S. International Trade in Goods and Services release are consistent with the data in ITA table 2.2 and ITA table 3.2, respectively.

How do the seasonally adjusted data on trade in goods in exhibit 20a of the U.S. International Trade in Goods and Services release differ from the data on trade in goods in exhibit 19?

Read more about How do the seasonally adjusted data on trade in goods in exhibit 20a of the U.S. International Trade in Goods and Services release differ from the data on trade in goods in exhibit 19?

The data in exhibit 20a reflect trade in goods on a balance of payments (BOP) basis while the data in exhibit 19 reflect trade in goods on a Census basis. Goods on a Census basis are adjusted by the U.S. Bureau of Economic Analysis to a BOP basis to align the data with the concepts and definitions used to prepare the international and national economic accounts.

Do the seasonal adjustments by geography for export/import data account for moving holidays, such as Lunar New Year and Easter?

Read more about Do the seasonal adjustments by geography for export/import data account for moving holidays, such as Lunar New Year and Easter?

Yes. Due to the geographic nature of many moving holidays, the U.S. Bureau of Economic Analysis and the U.S. Census Bureau review the country and world area data for moving holiday effects and include them in seasonal adjustment models as appropriate.

Are data for seasonally adjusted trade in goods and services by geography available as a time series?

Read more about Are data for seasonally adjusted trade in goods and services by geography available as a time series?

Yes. Data for seasonally adjusted trade in goods and services by geography are available in a historical time series file beginning with first quarter 1999 for most of the featured countries and areas. Exceptions are Ireland, Israel, Malaysia, Switzerland, and Vietnam for which data for trade in services are available beginning with first quarter 2013. This file is updated quarterly with the U.S. International Trade in Goods and Services release in March, June, September, and December.

Will additional seasonally adjusted countries and areas be made available in the U.S. International Trade in Goods and Services release and in the U.S. International Transactions Accounts?

Read more about Will additional seasonally adjusted countries and areas be made available in the U.S. International Trade in Goods and Services release and in the U.S. International Transactions Accounts?

The U.S. Bureau of Economic Analysis and the U.S. Census Bureau periodically reevaluate the list of selected countries and areas and may make further additions or modifications at a future date. In June 2022, the list was expanded to include Australia, Belgium, Ireland, Israel, Malaysia, Netherlands, Switzerland, and Vietnam.

How do the U.S. Bureau of Economic Analysis (BEA) and the U.S. Census Bureau seasonally adjust export/import data by geography?

Read more about How do the U.S. Bureau of Economic Analysis (BEA) and the U.S. Census Bureau seasonally adjust export/import data by geography?

The geographic seasonal adjustments are developed and applied directly at the country and world area level. This differs from seasonal adjustments in other BEA and Census Bureau data on trade in goods and services, which are applied to detailed end-use commodity data for goods and to detailed service-type data for services.

At what frequency are seasonally adjusted data by geography for trade in goods and services available?

Read more about At what frequency are seasonally adjusted data by geography for trade in goods and services available?

Seasonally adjusted data by geography for trade in goods on a balance of payments basis and for trade in services are available at a quarterly frequency. The source data are not available at the level of detail necessary to produce at a monthly frequency.

However, seasonally adjusted data by geography for trade in goods on a Census basis are available at a monthly frequency in exhibit 19 of the U.S. International Trade in Goods and Services release.

How do the U.S. Bureau of Economic Analysis and the U.S. Census Bureau select which countries to present in the seasonally adjusted tables in the U.S. International Trade in Goods and Services release and in the U.S. International Transactions Accounts?

Read more about How do the U.S. Bureau of Economic Analysis and the U.S. Census Bureau select which countries to present in the seasonally adjusted tables in the U.S. International Trade in Goods and Services release and in the U.S. International Transactions Accounts?

The selected countries represent the major trading partners of the United States. These countries include Australia, Belgium, Brazil, Canada, China, France, Germany, Hong Kong, India, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, Saudi Arabia, Singapore, South Korea, Switzerland, Taiwan, United Kingdom, and Vietnam. For 2021, they accounted for 81 percent of total trade in goods and services.

Why do the U.S. Bureau of Economic Analysis and the U.S. Census Bureau publish seasonally adjusted export/import data by geography in the U.S. International Trade in Goods and Services release?

Read more about Why do the U.S. Bureau of Economic Analysis and the U.S. Census Bureau publish seasonally adjusted export/import data by geography in the U.S. International Trade in Goods and Services release?

Publishing seasonally adjusted trade data by geography allows users to better assess underlying patterns in geographic time series data by removing predictable seasonal patterns specific to each country or world area.