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. EST THURSDAY, MARCH 9, 2006 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 CB06-32, BEA06-07, FT-900 (06-01) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES January 2006 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 January exports of $114.4 billion and imports of $182.9 billion resulted in a goods and services deficit of $68.5 billion, $3.4 billion more than the $65.1 billion in December, revised. January exports were $2.8 billion more than December exports of $111.6 billion. January imports were $6.2 billion more than December imports of $176.6 billion. In January, the goods deficit increased $3.2 billion from December to $73.4 billion, and the services surplus decreased $0.2 billion to $4.9 billion. Exports of goods increased $2.6 billion to $81.7 billion, and imports of goods increased $5.9 billion to $155.1 billion. Exports of services increased $0.2 billion to $32.7 billion, and imports of services increased $0.4 billion to $27.8 billion. In January, the goods and services deficit was up $10.2 billion from January 2005. Exports were up $12.2 billion, or 12.0 percent, and imports were up $22.5 billion, or 14.0 percent. Goods The December to January change in exports of goods reflected increases in industrial supplies and materials ($1.0 billion); capital goods ($0.9 billion); foods, feeds, and beverages ($0.5 billion); and automotive vehicles, parts, and engines ($0.1 billion). Decreases occurred in consumer goods ($0.1 billion) and other goods ($0.1 billion). The December to January change in imports of goods reflected increases in industrial supplies and materials ($1.4 billion); capital goods ($1.2 billion); automotive vehicles, parts, and engines ($1.2 billion); consumer goods ($1.0 billion); other goods ($0.6 billion); and foods, feeds, and beverages ($0.4 billion). The January 2005 to January 2006 change in exports of goods reflected increases in capital goods ($4.7 billion); industrial supplies and materials ($2.6 billion); consumer goods ($1.1 billion); automotive vehicles, parts, and engines ($0.9 billion); foods, feeds, and beverages ($0.7 billion); and other goods ($0.5 billion). The January 2005 to January 2006 change in imports of goods reflected increases in industrial supplies and materials ($12.0 billion); capital goods ($3.1 billion); automotive vehicles, parts, and engines ($2.8 billion); consumer goods ($1.9 billion); foods, feeds, and beverages ($0.8 billion); and other goods ($0.6 billion). Services Services exports increased $0.2 billion from December to January. Increases in travel and passenger fares were partly offset by a decrease in transfers under U.S. military sales contracts. Changes in other categories of services exports were small. Services imports increased $0.4 billion from December to January. The increase was mostly accounted for by increases in other transportation, which includes freight and port services, and travel. Changes in other categories of services imports were small. From January 2005 to January 2006, services exports increased $2.0 billion. The largest increases were in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services ($0.9 billion), travel ($0.6 billion), and other transportation ($0.5 billion). From January 2005 to January 2006, services imports increased $1.3 billion. The largest increases were in other private services ($1.0 billion) and passenger fares ($0.3 billion). Goods and Services Moving Average For the three months ending in January, exports of goods and services averaged $111.7 billion, while imports of goods and services averaged $177.7 billion, resulting in an average trade deficit of $66.0 billion. For the three months ending in December, the average trade deficit was $65.8 billion, reflecting average exports of $109.4 billion and average imports of $175.2 billion. Notice Regarding Advanced Technology Products The FT-900 report includes new exhibit 16a, Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas. Scheduled FT-900 release dates through February 2007 are located on page 31 Selected Not Seasonally Adjusted Goods Details The January figures showed surpluses, in billions of dollars, with Australia $0.9, ($0.7 for December), Hong Kong $0.4 ($0.7), Singapore $0.3 ($0.3), and Egypt $0.1 ($0.1). Deficits were recorded, in billions of dollars, with China $17.9 ($16.3), Europe $11.7 ($11.8), the European Union $9.7 ($10.1), Canada $8.9 ($8.0), OPEC $8.4 ($7.6), Japan $6.5 ($6.8), Mexico $4.6 ($4.3), Taiwan $1.6 ($1.1), Korea $1.3 ($1.1), and Brazil $0.6 ($0.6). Advanced technology products (ATP) exports were $18.3 billion in January and imports were $21.7 billion, resulting in a deficit of $3.4 billion. January exports were $2.0 billion less than the $20.3 billion in December, while imports were $1.9 billion less than the $23.6 billion in December. Revisions Goods carry-over in January was $0.5 billion (0.7 percent) for exports and $1.0 billion (0.7 percent) for imports. For December, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.4 billion (0.5 percent). For December, revised import carry-over was $0.1 billion (0.1 percent), revised down from $1.2 billion (0.9 percent). Goods and services exports and imports for all months in 2005 were revised in order to align the seasonally adjusted monthly data with the annual totals. Services exports and imports for July through December 2005 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 and travel. For services imports, the largest revisions over the entire period were in passenger fares and other private services. Services exports for December were virtually unchanged at $32.5 billion. Services imports for December were revised down $0.2 billion to $27.4 billion; the revision was more than accounted for by downward revisions in royalties and license fees and other private services. Table of Contents Seasonally Adjusted Exhibit 1 U.S. International Trade in Goods and Services . . . .4 Exhibit 2 U.S. International Trade in Goods and Services Three - month Moving Averages. . . . . . . . . . . . . . . . . . . . . . .5 Exhibit 3 U.S. Services by Major Category--Exports . . . . . . .6 Exhibit 4 U.S. Services by Major Category--Imports . . . . . . .7 Exhibit 5 U.S. Trade in Goods. . . . . . . . . . . . . . . . . .8 Exhibit 6 Exports and Imports of Goods by Principal End-Use Category. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Exhibit 7 Exports of Goods by End-Use Category and Commodity . 10 Exhibit 8 Imports of Goods by End-Use Category and Commodity . 12 Exhibit 9 Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Category Totals. . . . . . . . . . . . . . 14 Exhibit 10 Real Exports and Imports of Goods by Principal End-Use Category (2000 Chain-weighted dollars) . . . . . . . . . . . . . 15 Exhibit 11 Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Commodity Category Totals (2000 Chain- weighted dollars). . . . . . . . . . . . . . . . . . . . . . . . 16 Not Seasonally Adjusted Exhibit 12 U.S. Trade in Goods. . . . . . . . . . . . . . . . . 17 Exhibit 13 Exports and Imports of Goods by Principal End-Use Category. . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Exhibit 14 Exports, Imports, and Balance of Goods by Selected Countries and Areas . . . . . . . . . . . . . . . . . . . . . .19 Exhibit 15 Exports and Imports of Goods by Principal SITC Commodities. . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Exhibit 16 Exports, Imports, and Balance of Advanced Technology Products. . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 Exhibit 16a Exports, Imports, and Balance of Advanced Technology Products by Technology Group and Selected Countries and Areas. . 24 Exhibit 17 Imports of Energy - Related Petroleum Products, Including Crude Oil. . . . . . . . . . . . . . . . . . . . . . . 25 Exhibit 18 Exports and Imports of Motor Vehicles and Parts By Selected Countries. . . . . . . . . . . . . . . . . . . . . . . .26 Information on Goods and Services. . . . . . . . . . . . . . . . 27 SOURCE: Report FT900 (CB-06-32, BEA-06-07), Bureau of the Census, Foreign Trade Division, January 2006. For more information, contact Nick Orsini (301-763-6959) or Vanessa Ware (301-763-2311), Foreign Trade Division.