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


The first two pages of this release are shown in plain text below.
A PDF version of the entire release is also available and the tables from this release are available in an XLS spreadsheet.
For plain text copies of the tables, please visit the Census web site.

              United States Department of
                           COMMERCE NEWS
                       Washington, D.C. 20230

                              ECONOMICS
                                AND
                             STATISTICS
                           ADMINISTRATION
                            ------------
U.S. Census Bureau
U.S. Bureau of Economic Analysis

This release contains sensitive economic
data not to be released before 8:30 a.m. Friday,
December 12, 2003

CB-03-191    Press Copy
BEA-03-50
FT-900 (03-10)

For information on goods contact:
U.S. Census Bureau:
Haydn R. Mearkle   (301) 763-2246
Nick Orsini        (301) 763-2311

For information on services contact:
U.S. Bureau of Economic Analysis:
Technical:  Christopher Bach   (202) 606-9545
Media:      Larry Moran        (202) 606-2649


          U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                           October 2003

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 October exports of $88.0
billion and imports of $129.7 billion resulted in a goods and services deficit
of $41.8 billion, compared with $41.3 billion in September, revised.  October
exports were $2.2 billion more than September exports of $85.7 billion.
October imports were $2.7 billion more than September imports of $127.1 billion.

In October, the goods deficit increased $0.9 billion from September to $47.4
billion, and the services surplus increased $0.4 billion to $5.7 billion.
Exports of goods increased $1.7 billion to $61.4 billion, and imports of goods
increased $2.5 billion to $108.8 billion.  Exports of services increased to
$26.6 billion from $26.0 billion, and imports of services increased to $20.9
billion from $20.8 billion.

In October, the goods and services deficit was up $6.6 billion from October 2002.
Exports were up $5.8 billion, or 7.1 percent, and imports were up $12.4 billion,
or 10.6 percent.

Goods

The September to October change in exports of goods reflected increases in
capital goods ($0.9 billion); industrial supplies and materials ($0.6 billion);
foods, feeds, and beverages ($0.2 billion); and automotive vehicles, parts, and
engines ($0.2 billion).  A decrease occurred in consumer goods ($0.2 billion).
Other goods were virtually unchanged.

The September to October change in imports of goods reflected increases in
consumer goods ($1.5 billion); automotive vehicles, parts, and engines
($1.0 billion); capital goods ($0.2 billion); and other goods ($0.1 billion).
A decrease occurred in industrial supplies and materials ($0.1 billion).  Foods,
feeds, and beverages were virtually unchanged.

The October 2002 to October 2003 change in exports of goods reflected increases
in industrial supplies and materials ($1.5 billion); capital goods ($1.1 billion);
foods, feeds, and beverages ($0.9 billion); consumer goods ($0.4 billion); and
automotive vehicles, parts, and engines ($0.3 billion).  A decrease occurred in
other goods ($0.2 billion).

The October 2002 to October 2003 change in imports of goods reflected increases
in consumer goods ($3.5 billion); capital goods ($3.1 billion); industrial
supplies and materials ($2.3 billion); automotive vehicles, parts, and engines
($1.3 billion); and foods, feeds, and beverages ($0.7 billion).  A decrease
occurred in other goods ($0.1 billion)

Services

Services exports increased $0.6 billion from September to October.  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), travel, and passenger fares.  Changes in the other
categories of services exports were small.

Services imports increased $0.2 billion from September to October.  The increase
was accounted for by small increases in nearly every category of services imports.

From October 2002 to October 2003, services exports increased $1.7 billion.  The
largest increases were in other private services ($0.9 billion) and royalties and
license fees ($0.4 billion).

From October 2002 to October 2003, services imports increased $1.6 billion.
The largest increases were in other private services ($0.6 billion), other
transportation ($0.6 billion), which includes freight and port services, and
direct defense expenditures ($0.3 billion).

Goods and Services Moving Average

For the three months ending in October, exports of goods and services averaged
$85.7 billion, while imports of goods and services averaged $126.6 billion,
resulting in an average trade deficit of $40.9 billion.  For the three months
ending in September, the average trade deficit was $40.5 billion, reflecting
average exports of $84.8 billion and average imports of $125.3 billion.

Selected Not Seasonally Adjusted Goods Details

The October figures showed surpluses, in billions of dollars, with Australia
$0.6 (for September $0.7), Hong Kong $0.3 ($0.3), Egypt $0.2 ($0.3), and
Singapore $0.1 (deficit of $0.1).  Deficits were recorded, in billions of
dollars, with China $13.6 ($12.7), Western Europe $9.4 ($8.9), Japan $6.4 ($5.1),
Canada $4.9 ($5.3), OPEC $4.4 ($4.0), Mexico $3.5 ($3.3), Korea $1.6 ($1.1),
Taiwan $1.1 ($1.4), and Brazil $0.6 ($0.6).

Advanced technology products (ATP) exports were $16.3 billion in October and
imports were $19.8 billion, resulting in a deficit of $3.5 billion.  October
exports were $1.3 billion more than the $15.0 billion in September, while
imports were $0.9 billion more than the $18.9 billion in September.

Revisions

Goods carry-over in October was $0.2 billion (0.4 percent) for exports and
$1.1 billion (1.0 percent) for imports.  For September, revised export carry-over
was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.4 percent).
For September, revised import carry-over was $0.2 billion (0.2 percent), revised
down from $1.0 billion (0.9 percent).

Services exports and imports for April through September 2003 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, passenger fares, and royalties and license fees.  For services
imports, the largest revisions over the entire period were in passenger fares
and travel.

Services exports for September were revised down $0.3 billion to $26.0 billion;
the revision was more than accounted for by downward revisions in other private
services and passenger fares.  Services imports for September were revised down
$0.3 billion to $20.8 billion; the revision was more than accounted for by
downward revisions in passenger fares and travel.