skip to Main Content
BEA Logo
News
 
 


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.
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. Tuesday,
December 14, 2004

CB-04-241    Press Copy
BEA-04-55
FT-900 (04-10)

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
                           October 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 October exports of $98.1
billion and imports of $153.5 billion resulted in a goods and services deficit
of $55.5 billion, compared with $50.9 billion in September, revised.  October
exports were $0.6 billion more than September exports of $97.5 billion.  October
imports were $5.1 billion more than September imports of $148.4 billion.

In October, the goods deficit increased $4.7 billion from September to $59.7
billion, and the services surplus increased $0.2 billion to $4.2 billion.  Exports
of goods increased $0.2 billion to $69.4 billion, and imports of goods increased
$4.9 billion to $129.0 billion.  Exports of services increased $0.4 billion to
$28.7 billion, and imports of services increased $0.2 billion to $24.5 billion.

In October, the goods and services deficit was up $14.0 billion from October 2003.
Exports were up $10.0 billion, or 11.3 percent, and imports were up $23.9 billion,
or 18.5 percent.

Goods

The September to October change in exports of goods reflected increases in industrial
supplies and materials ($0.6 billion) and capital goods ($0.1 billion).  Decreases
occurred in other goods ($0.3 billion); foods, feeds, and beverages ($0.1 billion);
and automotive vehicles, parts, and engines ($0.1 billion).  Consumer goods were
virtually unchanged.

The September to October change in imports of goods reflected increases in industrial
supplies and materials ($3.0 billion); consumer goods ($1.6 billion); foods, feeds,
and beverages ($0.3 billion); capital goods ($0.1 billion); and other goods
($0.1 billion).  A decrease occurred in automotive vehicles, parts, and engines
($0.2 billion).

The October 2003 to October 2004 change in exports of goods reflected increases
in industrial supplies and materials ($3.3 billion); capital goods ($2.6 billion);
consumer goods ($1.2 billion); automotive vehicles, parts, and engines ($0.7 billion);
and other goods ($0.5 billion).  Foods, feeds, and beverages were virtually unchanged.

The October 2003 to October 2004 change in imports of goods reflected increases
in industrial supplies and materials ($12.5 billion); capital goods ($4.2 billion);
consumer goods ($3.0 billion); automotive vehicles, parts, and engines ($1.2 billion);
foods, feeds, and beverages ($0.4 billion); and other goods ($0.2 billion).

Services

Services exports increased $0.4 billion from September to October.  The increase
was mostly accounted for by increases in travel and other transportation (which
includes freight and port services).  Changes in the other categories of services
exports were small.

Services imports increased $0.2 billion from September to October.  The increase
was more than accounted for by increases in travel, passenger fares, and 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 imports were small.

From October 2003 to October 2004, services exports increased $1.8 billion.  The
largest increases were in other private services ($0.5 billion), travel ($0.5 billion),
and other transportation ($0.4 billion).

From October 2003 to October 2004, services imports increased $2.2 billion.  The
largest increases were in other transportation ($0.7 billion), travel ($0.6 billion),
and other private services ($0.6 billion).

Goods and Services Moving Average

For the three months ending in October, exports of goods and services averaged
$97.3 billion, while imports of goods and services averaged $150.7 billion, resulting
in an average trade deficit of $53.4 billion.  For the three months ending in September,
the average trade deficit was $51.8 billion, reflecting average exports of $96.5 billion
and average imports of $148.3 billion.

Selected Not Seasonally Adjusted Goods Details

The October figures showed surpluses, in billions of dollars, with Australia $0.6
(for September $0.6), Hong Kong $0.4 ($0.5), Egypt $0.2 ($0.1), and Singapore $0.1
($0.3).  Deficits were recorded, in billions of dollars, with China $16.8 ($15.5),
the European Union (25) $9.3 ($7.7), OPEC $7.2 ($6.7), Japan $5.9 ($6.1), Canada
$5.6 ($5.2), Mexico $4.4 ($3.8), Korea $2.0 ($2.1), Taiwan $1.1 ($1.1), and Brazil
$0.8 ($0.9).

Advanced technology products (ATP) exports were $17.9 billion in October and imports
were $22.0 billion, resulting in a deficit of $4.1 billion.  October exports were
$0.6 billion more than the $17.3 billion in September, while imports were $1.5
billion more than the $20.4 billion in September.

Revisions

Goods carry-over in October was $0.3 billion (0.5 percent) for exports and $0.9
billion (0.6 percent) for imports.  For September, revised export carry-over was
$0.2 billion (0.3 percent), revised down from $0.5 billion (0.7 percent).  For
September, revised import carry-over was $0.1 billion (0.1 percent), revised down
from $1.2 billion (0.9 percent).

Services exports and imports for April through September 2004 reflect the
incorporation of quarterly revisions to the U.S. international transactions
accounts.  The revised quarterly and monthly estimates are based on more complete
source data than were available previously.  For services exports, the largest
revision over the entire period was in travel.  For services imports, the largest
revision over the entire period was in other private services.

Services exports for September were revised down $0.2 billion to $28.4 billion;
the revision was more than accounted for by downward revisions in travel and
transfers under U.S. military sales contracts.  Services imports for September were
revised down $0.2 billion to $24.3 billion; the revision was more than accounted
for by downward revisions in other private services, other transportation, and
passenger fares.