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

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                          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 TUESDAY, SEPTEMBER 11, 2007

CB07-125
BEA07-40
FT-900 (07-07)

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) 606-2649

              U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                               July 2007

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 July exports of $137.7 billion
and imports of $196.9 billion resulted in a goods and services deficit of $59.2
billion, $0.2 billion less than the $59.4 billion in June, revised.  July exports
were $3.6 billion more than June exports of $134.1 billion.  July imports were
$3.4 billion more than June imports of $193.5 billion.

In July, the goods deficit decreased $0.3 billion from June to $68.1 billion, and
the services surplus decreased $0.1 billion to $8.9 billion.  Exports of goods
increased $3.5 billion to $98.4 billion, and imports of goods increased $3.2 billion
to $166.6 billion.  Exports of services increased $0.1 billion to $39.2 billion,
and imports of services increased $0.2 billion to $30.4 billion.

In July, the goods and services deficit was down $8.3 billion from July 2006.
Exports were up $17.8 billion, or 14.8 percent, and imports were up $9.5 billion,
or 5.1 percent.

Goods

The June to July change in exports of goods reflected increases in capital goods
($1.9 billion); automotive vehicles, parts, and engines ($1.4 billion); consumer
goods ($0.5 billion); and foods, feeds, and beverages ($0.3 billion).  A decrease
occurred in industrial supplies and materials ($0.6 billion). Other goods were
virtually unchanged.

The June to July change in imports of goods reflected increases in automotive
vehicles, parts, and engines ($1.1 billion); industrial supplies and materials
($1.0 billion); consumer goods ($0.4 billion); foods, feeds, and beverages
($0.2 billion); and other goods ($0.1 billion).  A decrease occurred in capital
goods ($0.1 billion).

The July 2006 to July 2007 change in exports of goods reflected increases in capital
goods ($4.7 billion); industrial supplies and materials ($3.5 billion); automotive
vehicles, parts, and engines ($2.0 billion); consumer goods ($1.4 billion); foods,
feeds, and beverages ($1.3 billion); and other goods ($0.6 billion).

The July 2006 to July 2007 change in imports of goods reflected increases in consumer
goods ($2.8 billion); capital goods ($1.9 billion); automotive vehicles, parts, and
engines ($1.5 billion); foods, feeds, and beverages ($0.7 billion); and other goods
($0.4 billion).  Industrial supplies and materials were virtually unchanged.

Services

Services exports increased $0.1 billion from June to July.  The increase was mostly
accounted for by increases in travel and other transportation (which includes freight
and port services), which were partly offset by a decrease in other private services
(which includes items such as business, professional, and technical services, insurance
services, and financial services).  Changes in other categories of services exports
were small.

Services imports increased $0.2 billion from June to July.  The increase was more than
accounted for by increases in other transportation and other private services.  Changes
in other categories of services imports were small.

From July 2006 to July 2007, services exports increased $4.4 billion.  The largest
increases were in other private services ($2.3 billion), travel ($0.9 billion), and
other transportation ($0.6 billion).

From July 2006 to July 2007, services imports increased $1.7 billion.  The largest
increases were in other private services ($1.2 billion), travel ($0.2 billion), and
other transportation ($0.2 billion).

Goods and Services Moving Average

For the three months ending in July, exports of goods and services averaged $134.7
billion, while imports of goods and services averaged $194.2 billion, resulting in
an average trade deficit of $59.4 billion.  For the three months ending in June,
the average trade deficit was $59.2 billion, reflecting average exports of $131.9
billion and average imports of $191.1 billion.

Selected Not Seasonally Adjusted Goods Details

The July figures showed surpluses, in billions of dollars, with Hong Kong $0.9
($1.2 for June), Australia $0.7 ($0.9), Singapore $0.5 ($1.0), Argentina $0.2 ($0.2),
and Egypt $0.1 ($0.2).  Deficits were recorded, in billions of dollars, with China
$23.8 ($21.2), Europe $14.8 ($9.6), the European Union $13.0 ($9.2), OPEC $10.9 ($9.9),
Japan $8.0 ($6.3), Canada $5.7 ($5.9), Mexico $5.6 ($6.4), Korea $1.4 ($0.9), Taiwan
$1.0 ($0.7), and Brazil $0.2 ($0.4).

Advanced technology products (ATP) exports were $22.2 billion in July and imports
were $27.1 billion, resulting in a deficit of $4.9 billion.  July exports were $2.1
billion less than the $24.2 billion in June, while imports were $0.4 billion less
than the $27.5 billion in June.

Revisions

Goods carry-over in July was $0.3 billion (0.3 percent) for exports and $2.0 billion
(1.2 percent) for imports.  For June, revised export carry-over was $0.1 billion
(0.1 percent), revised down from $0.4 billion (0.4 percent).  For June, revised
import carry-over was $0.4 billion (0.2 percent), revised down from $1.1 billion
(0.7 percent).

Services exports and imports for January through June 2007 reflect the incorporation
of more comprehensive and revised quarterly and monthly data.  For services exports,
the largest revisions over the entire period were in other private services.  For
services imports, the largest revisions over the entire period were in other
transportation, passenger fares, and travel.

Services exports for June were revised down $0.2 billion to $39.1 billion.  The
revision was more than accounted for by a downward revision in other private services.
Services imports for June were revised up $0.2 billion to $30.2 billion.  The revision
was more than accounted for by upward revisions in travel and other transportation,
which were partly offset by downward revisions in passenger fares and other private
services.