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

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                           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. EDT THURSDAY, OCTOBER 11, 2007

CB07-143
BEA07-49
FT-900 (07-08)

For information on goods contact:
U.S. Census Bureau:
Nick Orsini    (301) 763-6959
Joe Kafchinski (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

              U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                               August 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 August exports of $138.3 billion
and imports of $195.9 billion resulted in a goods and services deficit of $57.6
billion, $1.4 billion less than the $59.0 billion in July, revised.  August exports
were $0.6 billion more than July exports of $137.7 billion.  August imports were
$0.8 billion less than July imports of $196.7 billion.

In August, the goods deficit decreased $1.2 billion from July to $66.6 billion, and
the services surplus increased $0.2 billion to $9.0 billion. Exports of goods
increased $0.3 billion to $99.0 billion, and imports of goods decreased $0.8 billion
to $165.5 billion.  Exports of services increased $0.3 billion to $39.4 billion, and
imports of services were virtually unchanged at $30.4 billion.

In August, the goods and services deficit was down $10.0 billion from August 2006.
Exports were up $15.7 billion, or 12.8 percent, and imports were up $5.7 billion,
or 3.0 percent.

Goods

The July to August change in exports of goods reflected increases in industrial
supplies and materials ($0.9 billion); foods, feeds, and beverages ($0.6 billion);
and consumer goods ($0.2 billion).  Decreases occurred in automotive vehicles,
parts, and engines ($1.0 billion); other goods ($0.3 billion); and capital goods
($0.2 billion).

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

The August 2006 to August 2007 change in exports of goods reflected increases in
industrial supplies and materials ($3.9 billion); capital goods ($3.4 billion);
food, feeds, and beverages ($1.7 billion); consumer goods ($1.3 billion); and
automotive vehicles, parts, and engines ($1.1 billion).  Other goods were virtually
unchanged.

The August 2006 to August 2007 change in imports of goods reflected increases
in consumer goods ($1.8 billion); capital goods ($1.7 billion); automotive vehicles,
parts, and engines ($0.9 billion); food, feeds, and beverages ($0.6 billion); and
other goods ($0.4 billion).  A decrease occurred in industrial supplies and materials
($1.8 billion).

Services

Services exports increased $0.3 billion from July to August.  The increase was mostly
accounted for by an increase in travel. Changes in other categories of services
exports were small.

Services imports were virtually unchanged from July to August.  Changes in all
categories of services imports were small and nearly offsetting.

From August 2006 to August 2007, services exports increased $4.1 billion.  The
largest increases were in other private services ($2.1 billion), which includes items
such as business, professional, and technical services, insurance services, and
financial services, travel ($1.1 billion), and royalties and license fees
($0.5 billion).

From August 2006 to August 2007, services imports increased $1.8 billion.  The
largest increases were in other private services ($1.1 billion), travel ($0.3 billion),
and royalties and license fees ($0.2 billion).

Goods and Services Moving Average

For the three months ending in August, exports of goods and services averaged $136.7
billion, while imports of goods and services averaged $195.4 billion, resulting in
an average trade deficit of $58.7 billion.  For the three months ending in July, the
average trade deficit was $59.3 billion, reflecting average exports of $134.8
billion and average imports of $194.1 billion.

Selected Not Seasonally Adjusted Goods Details

The August figures showed surpluses, in billions of dollars, with Hong Kong $1.1
($0.9 for July), Australia $0.9 ($0.7), Singapore $0.6 ($0.5), Egypt $0.4 ($0.1),
and Argentina $0.1 ($0.2).  Deficits were recorded, in billions of dollars, with
China $22.5 ($23.8), OPEC $11.4 ($10.9), Europe $11.1 ($14.8), the European Union
$10.2 ($13.0), Mexico $6.9 ($5.6), Japan $6.7 ($8.0), Canada $5.3 ($5.7), Taiwan
$0.8 ($1.0), Korea $0.8 ($1.4), and Brazil $0.2 ($0.2).

Advanced technology products (ATP) exports were $23.2 billion in August and imports
were $27.9 billion, resulting in a deficit of $4.7 billion.  August exports were
$1.1 billion more than the $22.2 billion in July, while imports were $0.8 billion
more than the $27.1 billion in July.

Revisions

Goods carry-over in August was $0.4 billion (0.4 percent) for exports and $1.5 billion
(0.9 percent) for imports. For July, revised export carry-over was $0.1 billion
(0.1 percent), revised down from $0.3 billion (0.3 percent).  For July, revised import
carry-over was $0.7 billion (0.4 percent), revised down from $2.0 billion (1.2 percent).

Services exports for July were revised down $0.1 billion to $39.1 billion.  The
revision was mostly accounted for by a downward revision in travel.  Services imports
for July were virtually unchanged at $30.4 billion.