International Trade - 8:30

Full report 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 September exports of $132.0 billion and imports of $168.4 billion resulted in a goods and services deficit of $36.5 billion, up from $30.8 billion in August, revised. September exports were $3.7 billion more than August exports of $128.3 billion. September imports were $9.3 billion more than August imports of $159.1 billion. In September, the goods deficit increased $5.6 billion from August to $47.6 billion, and the services surplus was virtually unchanged at $11.1 billion. Exports of goods increased $3.5 billion to $90.3 billion, and imports of goods increased $9.1 billion to $138.0 billion. Exports of services increased $0.2 billion to $41.6 billion, and imports of services increased $0.2 billion to $30.5 billion. In September, the goods and services deficit decreased $23.7 billion from September 2008. Exports were down $20.0 billion, or 13.2 percent, and imports were down $43.7 billion, or 20.6 percent. Goods (Census basis) The August to September increase in exports of goods reflected increases in capital goods ($1.7 billion); industrial supplies and materials ($1.4 billion); consumer goods ($0.5 billion); automotive vehicles, parts, and engines ($0.2 billion); and other goods ($0.2 billion). A decrease occurred in foods, feeds, and beverages ($0.4 billion). The August to September increase in imports of goods reflected increases in industrial supplies and materials ($5.5 billion); automotive vehicles, parts, and engines ($1.7 billion); capital goods ($0.8 billion); consumer goods ($0.7 billion); and other goods ($0.5 billion). Foods, feeds, and beverages were virtually unchanged. The September 2008 to September 2009 decrease in exports of goods reflected decreases in industrial supplies and materials ($5.2 billion); capital goods ($5.1 billion); automotive vehicles, parts, and engines ($2.6 billion); foods, feeds, and beverages ($1.5 billion); consumer goods ($0.7 billion); and other goods ($0.3 billion). The September 2008 to September 2009 decrease in imports of goods reflected decreases in industrial supplies and materials ($22.9 billion); capital goods ($7.6 billion); consumer goods ($4.6 billion); automotive vehicles, parts, and engines ($2.2 billion); foods, feeds, and beverages ($0.8 billion); and other goods ($0.5 billion). Services Services exports increased $0.2 billion from August to September. The increase was mostly accounted for by increases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) and other transportation (which includes freight and port services). Changes in the other categories of services exports were small. Services imports increased $0.2 billion from August to September. The increase was more than accounted for by increases in other transportation and other private services. Changes in the other categories of services imports were small. The September 2008 to September 2009 decrease in exports of services was $4.3 billion. The largest decreases were in travel ($1.4 billion), other transportation ($1.2 billion), and royalties and license fees ($0.9 billion). The September 2008 to September 2009 decrease in imports of services was $4.0 billion. The largest decreases were in other transportation ($1.9 billion), passenger fares ($0.7 billion), and other private services ($0.5 billion). Within other private services, the largest decreases were in business, professional, and technical services and financial services. Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $129.4 billion, while imports of goods and services averaged $162.5 billion, resulting in an average trade deficit of $33.1 billion. For the three months ending in August, the average trade deficit was $30.1 billion, reflecting average exports of $127.1 billion and average imports of $157.1 billion. Selected Not Seasonally Adjusted Goods Details The September figures show surpluses, in billions of dollars, with Hong Kong $1.9 ($1.3 for August), Australia $0.9 ($1.2), Singapore $0.3 ($0.3), and Egypt $0.3 ($0.4). Deficits were recorded, in billions of dollars, with China $22.1 ($20.2), OPEC $7.9 ($6.4), European Union $5.5 ($5.4), Mexico $4.6 ($4.0), Japan $4.1 ($4.3), Venezuela $2.0 ($1.9), Nigeria $1.9 ($1.7), Canada $1.5 ($1.5), Korea $0.8 ($0.4), and Taiwan $0.7 ($0.5). Advanced technology products exports were $20.5 billion in September and imports were $26.5 billion, resulting in a deficit of $6.0 billion. September exports were $2.0 billion more than the $18.5 billion in August, while September imports were $2.4 billion more than the $24.1 billion in August. Revisions Goods exports and imports for August were each revised up $0.1 billion. For August, revised export carry-over was virtually zero. For August, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.7 billion (0.5 percent). Goods carry-over in September was $0.1 billion (0.1 percent) for exports and $0.9 billion (0.7 percent) for imports. Services exports for August were virtually unrevised at $41.5 billion. An upward revision in travel was mostly offset by a downward revision in other transportation. Services imports for August were revised up $0.1 billion to $30.3 billion. The revision was mostly accounted for by an upward revision in travel.