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

Updated November 18, 2004. See the notice at the bottom of this page.


The first three 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.
Also available: a brief summary of highlights.
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. Wednesday,
November 10, 2004

CB-04-202    Press Copy
BEA-04-50
FT-900 (04-09)

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

For information on services contact:
U.S. Bureau of Economic Analysis:
Technical:  Christopher Bach  (202) 606-9545
Media:      Ralph Stewart     (202) 606-9690


               U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                               September 2004

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 $97.5
billion and imports of $149.0 billion resulted in a goods and services deficit
of $51.6 billion, compared with $53.5 billion in August, revised.  September
exports were $0.8 billion more than August exports of $96.7 billion.  September
imports were $1.2 billion less than August imports of $150.2 billion.

In September, the goods deficit decreased $1.4 billion from August to $55.6
billion, and the services surplus increased $0.6 billion to $4.0 billion.  Exports
of goods increased $0.9 billion to $68.9 billion, and imports of goods decreased
$0.5 billion to $124.5 billion.  Exports of services decreased $0.1 billion to
$28.5 billion, and imports of services decreased $0.7 billion to $24.5 billion.

In September, the goods and services deficit was up $10.3 billion from September
2003.  Exports were up $11.5 billion, or 13.3 percent, and imports were up $21.8
billion, or 17.1 percent.

Goods

The August to September change in exports of goods reflected increases in foods,
feeds, and beverages ($0.6 billion); industrial supplies and materials ($0.5 billion);
capital goods ($0.3 billion); and consumer goods ($0.3 billion).  Decreases occurred
in other goods ($0.2 billion) and automotive vehicles, parts, and engines ($0.1 billion).

The August to September change in imports of goods reflected decreases in industrial
supplies and materials ($0.7 billion); other goods ($0.3 billion); and foods, feeds,
and beverages ($0.1 billion).  Increases occurred in capital goods ($0.4 billion)
and automotive vehicles, parts, and engines ($0.2 billion).  Consumer goods were
virtually unchanged.

The September 2003 to September 2004 change in exports of goods reflected increases
in industrial supplies and materials ($3.3 billion); capital goods ($3.2 billion);
consumer goods ($1.1 billion); automotive vehicles, parts, and engines ($0.9 billion);
other goods ($0.4 billion); and foods, feeds, and beverages ($0.2 billion).

The September 2003 to September 2004 change in imports of goods reflected increases
in industrial supplies and materials ($9.8 billion); capital goods ($4.4 billion);
consumer goods ($2.6 billion); automotive vehicles, parts, and engines ($1.9 billion);
other goods ($0.2 billion); and foods, feeds, and beverages ($0.2 billion).

Services

Services exports decreased $0.1 billion from August to September.  Decreases in
travel and other transportation (which includes freight and port services) were
partly offset by an increase in other private services (which includes items such
as business, professional, and technical services, insurance services, and financial
services).  Changes in the other categories of services exports were small.

Services imports decreased $0.7 billion from August to September.  The decrease
was more than accounted for by a decrease in royalties and license fees, which had
been boosted in August by payments for broadcast rights for the 2004 Summer Olympic
Games.  Changes in the other categories of services imports were small.

From September 2003 to September 2004, services exports increased $2.5 billion.
The largest increases were in travel ($0.8 billion), other private services
($0.8 billion), and other transportation ($0.5 billion).

From September 2003 to September 2004, services imports increased $2.8 billion.
The largest increases were in other private services ($0.8 billion), other
transportation ($0.8 billion), and travel ($0.7 billion).

Goods and Services Moving Average

For the three months ending in September, exports of goods and services averaged
$96.7 billion, while imports of goods and services averaged $148.6 billion, resulting
in an average trade deficit of $51.9 billion.  For the three months ending in August,
the average trade deficit was $53.0 billion, reflecting average exports of $95.2
billion and average imports of $148.3 billion.

Selected Not Seasonally Adjusted Goods Details

The September figures showed surpluses, in billions of dollars, with Australia $0.6
(for August $0.6), Hong Kong $0.5 ($0.4), Singapore $0.3 ($0.6), and Egypt $0.1 ($0.1).
Deficits were recorded, in billions of dollars, with China $15.5 ($15.4), Western
Europe $7.9 ($10.0), the European Union (25) $7.7 ($9.6), OPEC $6.7 ($7.0), Japan $6.1
($6.4), Canada $5.3 ($6.0), Mexico $3.8 ($3.7), Korea $2.1 ($1.5), Taiwan $1.1 ($1.5),
and Brazil $0.9 ($0.6).

Advanced technology products (ATP) exports were $17.3 billion in September and imports
were $20.4 billion, resulting in a deficit of $3.2 billion.  September exports were
$1.3 billion more than the $16.0 billion in August, while imports were virtually
unchanged from August.

Revisions

Goods carry-over in September was $0.5 billion (0.7 percent) for exports and $1.2
billion (0.9 percent) for imports.  For August, revised export carry-over was
$0.2 billion (0.2 percent), revised down from $0.5 billion (0.7 percent).  For
August, revised import carry-over was $0.5 billion (0.4 percent), revised down from
$1.3 billion (1.0 percent).

Services exports for August were revised up $0.1 billion to $28.7 billion; the
revision was more than accounted for by an upward revision in transfers under U.S.
military sales contracts.  Services imports for August were virtually unchanged at
$25.3 billion.

                                   NOTICE

The Census Bureau has identified a processing error that caused incorrect
deflators to be applied to the revised data for April 2004 through
September 2004, as published in exhibits 10 and 11 of the September issue of
the U.S. International Trade in Goods and Services report. The revision
procedure for the real dollars requires compiling new deflators at the end of
each quarter and applying them to the current and previous quarter. On
November 18, a new set of deflators was compiled and applied to the April 2004
through September 2004 seasonally adjusted data. Exhibits 10 and 11 have been
recompiled and are available at www.census.gov/trade and
www.bea.gov/international/index.htm.

The revisions do not affect the chained-dollar import, export, or gross domestic
product estimates produced by the Bureau of Economic Analysis.

If you have further questions, contact the U.S. Census Bureau, Foreign Trade
Division at: (301) 763-3251 or e-mail Glenn Barresse at
glenn.a.barresse@census.gov.