U.S. Census Bureau
U.S. Bureau of Economic Analysis
NEWS
U.S. Department of Commerce ยท Washington, D.C. 20230
FOR IMMEDIATE RELEASE
8:30 A.M. EDT FRIDAY, JUNE 8, 2007
For information on goods contact: For information on
services contact:
U.S. Census Bureau: U.S. Bureau of Economic Analysis:
Nick Orsini (301) 763-6959 Technical: Christopher Bach
(202) 606-9545
Vanessa Ware (301) 763-2311 Media: Ralph Stewart (202)
606-2649
CB07-81, BEA07-25, FT-900 (07-04)
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
April 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 April exports of $129.5 billion and imports of $188.0
billion resulted in a goods and services deficit of $58.5
billion, $3.9 billion less than the $62.4 billion in March,
revised. April exports were $0.2 billion more than March
exports of $129.2 billion. April imports were $3.6 billion
less than March imports of $191.6 billion.
In April, the goods deficit decreased $3.7 billion from March to
$67.1 billion, and the services surplus increased $0.2 billion to
$8.6 billion. Exports of goods were virtually
unchanged at $91.1 billion, and imports of goods decreased $3.6
billion to $158.2 billion. Exports of services increased
$0.2 billion to $38.4 billion, and imports of services were
virtually unchanged at $29.8 billion.
In April, the goods and services deficit was down $3.8 billion
from April 2006. Exports were up $12.8 billion, or 10.9
percent, and imports were up $8.9 billion, or 5.0 percent.
Goods
The March to April change in exports of goods reflected decreases
in capital goods ($0.7 billion); other goods ($0.5 billion); and
automotive vehicles, parts, and engines
($0.1 billion). Increases occurred in foods, feeds, and beverages
($0.7 billion); industrial supplies and materials ($0.4 billion);
and consumer goods ($0.1 billion).
The March to April change in imports of goods reflected decreases
in consumer goods ($1.5 billion); automotive vehicles, parts, and
engines ($1.0 billion); capital goods ($0.6 billion); foods,
feeds, and beverages ($0.3 billion); and other goods ($0.2
billion). An increase occurred in industrial supplies and
materials ($0.3 billion).
The April 2006 to April 2007 change in exports of goods reflected
increases in industrial supplies and materials ($2.8 billion);
consumer goods ($1.6 billion); foods, feeds, and beverages ($1.5
billion); automotive vehicles, parts, and engines ($1.2 billion);
capital goods ($1.0 billion); and other goods ($1.0
billion).
The April 2006 to April 2007 change in imports of goods reflected
increases in consumer goods ($3.4 billion); industrial supplies
and materials ($1.5 billion); capital goods ($1.4 billion); and
foods, feeds, and beverages ($0.4 billion). A decrease occurred
in automotive vehicles, parts, and engines ($0.2 billion). Other
goods were virtually unchanged.
Services
Services exports increased $0.2 billion from March to
April. The increase was mostly accounted for by increases
in travel and other transportation (which includes freight and
port services). Changes in other categories of services
exports were small.
Services imports were virtually unchanged from March to
April. Small decreases in several categories were nearly
offset by small increases in others.
From April 2006 to April 2007, services exports increased $4.0
billion. The largest increases were in other private
services, which includes items such as business, professional,
and technical services, insurance services, and financial
services ($2.2 billion), travel ($0.7 billion), and royalties and
license fees ($0.6 billion).
From April 2006 to April 2007, services imports increased $1.6
billion. The largest increases were in other private
services ($1.1 billion), royalties and license fees ($0.2
billion), and travel ($0.2 billion).
Goods and Services Moving Average
For the three months ending in April, exports of goods and
services averaged $128.2 billion, while imports of goods and
services averaged $187.7 billion, resulting in an average trade
deficit of $59.5 billion. For the three months ending in
March,
the average trade deficit was $58.9 billion, reflecting average
exports of $127.6 billion and average imports of $186.6
billion.
Selected Not Seasonally Adjusted Goods Details
The April figures showed surpluses, in billions of dollars, with
Hong Kong $1.0 ($1.3 for March), Australia $0.7 ($1.0), Singapore
$0.4 ($0.9), Argentina $0.1($0.1), and Egypt $0.1 ($0.2).
Deficits were recorded, in billions of dollars, with China $19.4
($17.2),
Europe $10.0 ($8.9), OPEC $9.8 ($8.7), the European Union $9.0
($7.7), Japan $7.4 ($7.1), Canada $5.8 ($5.4), Mexico $5.2
($6.7), Korea $1.0 ($1.2), Taiwan $0.7 ($1.0), and Brazil $0.3
($0.4).
Advanced technology products (ATP) exports were $20.6 billion in
April and imports were $25.3 billion, resulting in a deficit of
$4.7 billion. April exports were $3.5 billion less than the
$24.2 billion in March, while imports were $1.7 billion less than
the $27.1 billion in March.
Revisions
Goods carry-over in April was $0.3 billion (0.3 percent) for
exports and $1.1 billion (0.7 percent) for imports. For March,
revised export carry-over was virtually zero, revised down from
$0.1 billion (0.1 percent). For March, revised import
carry-over was $0.1 billion (0.1 percent), revised down from $0.6
billion (0.4 percent).
Goods and services exports and imports for all months shown in
this release reflect the incorporation of annual revisions to the
goods and services series in the U.S. international transactions
accounts. See the "Notice" in this release for a
description of major revisions to goods and services exports and
imports.
NOTICE
In this release and the accompanying "U.S. International Trade in
Goods and Services: Annual Revision for 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 1997-2006 and
the first three months of 2007 and revised data on services for
2003-2006 and the first three months of 2007.
Goods
The 2006 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 2004-2006 and the first three months of 2007. Similar
changes were made to the chain-weighted dollar series.
Also, the balance of payments adjustment
to the Census-basis data for re-valuing some goods imports of
computer software from media to full value has been updated for
1997-2006 and the first three months of 2007.
Services
The services estimates were revised for 2003-2006 and the first
three months of 2007. Most of the revisions resulted from
the incorporation of results from BEA's quarterly surveys.
Revisions from these sources have an impact mostly on receipts
and payments for 2005-2006. The revisions to services
receipts are larger than the revisions to services
payments. Most of the revisions to services receipts are to
"other private services." The revisions reflect results
from recent BEA initiatives to better capture movements of
large and volatile categories of transactions, as well as to
improve the coverage of transactions
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