
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES:  APRIL 1998 


This release contains sensitive economic data not to be 
released before 8:30 a.m. Thursday, June 18, 1998

CB-98-101 Press Copy 
FT-900 (98-04)

For information on goods contact:  Bureau of the Census:
Haydn R. Mearkle  (301) 457-2246 
Richard M. Preuss (301) 457-2311

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

	U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES April 1998

Goods And Services

     The Bureau of the Census and the Bureau of Economic Analysis, through 
the Department of Commerce, announced today that total April exports of 
$77.1 billion and imports of $91.6 billion resulted in a goods and 
services deficit of $14.5 billion, $1.2 billion more than the $13.2 
billion in March, revised.  April exports were $2.0 billion less than 
March exports of $79.1 billion.  April imports were $0.8 billion less than 
March imports of $92.4 billion.  

     In April, the goods deficit increased $1.0 billion from March to 
$21.5 billion, and the services surplus decreased $0.3 billion to $7.0 
billion.  Exports of goods decreased to $55.3 billion from $57.2 billion, 
and imports of goods decreased to $76.8 billion from $77.7 billion.  
Exports of services decreased to $21.8 billion from $21.9 billion, and 
imports of services increased to $14.8 billion from $14.6 billion.

Goods

     The March to April change in exports of goods reflected decreases 
in capital goods  of $1.1 billion (primarily civilian aircraft); other 
goods ($0.5 billion); industrial supplies and materials ($0.4 billion); 
foods, feeds, and beverages ($0.2 billion); and automotive vehicles, parts, 
and engines ($0.1 billion).  An increase occurred in consumer goods of 
$0.1 billion. 
 
     The March to April change in imports of goods reflected decreases 
in automotive vehicles, parts, and engines of $0.8 billion (primarily 
automobiles); capital goods ($0.8 billion); and foods, feeds and beverages 
($0.1 billion).  Increases occurred in industrial supplies and materials 
($0.7 billion); other goods ($0.2 billion); and consumer goods ($0.1 
billion). 

Note:  Total goods are reported on a balance of payments basis; commodity 
       and country detail for goods are on a Census basis.  Definitions 
       are explained in the notes starting on page 26 of this release.

                       
Services
	
     Services exports decreased $0.1 billion from  March to April. 
Transfers under U.S. military sales contracts decreased $0.7 billion, 
following an increase of like magnitude in March due to large, one-time 
transactions.  Largely offsetting this decrease, travel increased $0.5 
billion and passenger fares increased $0.1 billion.

     Services imports increased $0.2 billion from March to April, mostly  
reflecting an increase in travel of $0.1 billion.  Changes in other 
categories of services imports were small.

Goods and Services Moving Average 

     For the three months ending in April, exports of goods and services 
averaged $78.0 billion, while imports of goods and services averaged 
$91.1 billion, resulting in an average trade deficit of $13.1 billion.  For 
the three months ending in March, the average trade deficit was $11.6 
billion, reflecting average exports of $78.8 billion and average imports 
of $90.4 billion.

Selected Not Seasonally Adjusted Goods Details 

     The April figures showed surpluses, in billions of dollars, with 
Australia $0.5 (for March $0.6), Brazil  $0.4 ($0.5), Hong Kong $0.3 
($0.4), Argentina $0.3 ($0.3)and  Egypt $0.2 ($0.2).  Deficits were 
recorded, in  billions  of  dollars, with  Japan -$5.4 (-$5.8), China 
-$4.3 (-$3.8), Western Europe -$3.2 (-$1.6) Mexico -$1.3 ($-1.4) 
Canada -$1.2 (-$0.9), OPEC -$1.2 (-$0.5) Taiwan -$1.1 (-$1.1), 
Korea -$0.5 (-$0.7), and  Singapore -$0.4 (-$0.3).

     Advanced technology products (ATP) exports were $14.4  billion in 
April and imports were $12.3 billion, resulting in a surplus of $2.1 
billion.  April exports were $2.6 billion less than the $17.0 billion in 
March, while imports were $1.6 billion less than the $13.9 billion in March.

Revisions
	
     Carry-over in April was $0.6 billion (1.1 percent) for exports and 
$0.8 billion (1.1 percent) for imports.  For March, revised export 
carry-over was $0.1 billion (0.1 percent), revised down from $0.6 billion 
(1.0 percent).  For March, revised import carry-over was $0.1 billion 
(0.1 percent), revised down from $0.9 billion (1.1 percent).

*** NOTICE *** *** NOTICE ***  *** NOTICE *** *** NOTICE *** *** NOTICE *** 

With this release, the Bureau of the Census and the Bureau of Economic 
Analysis are publishing revised U.S. goods and services trade statistics 
for 1996, 1997, and the first quarter of 1998.  Also released today was 
the "U.S. International Trade in Goods and Services Annual Revisions 
for 1997", which contains revised goods and services data for 1992-97.  
More detailed information will be provided in the July issue of the Survey 
of Current Business.

Goods

The 1997 unadjusted Census basis goods data were revised to eliminate 
"carry over" (that portion of the monthly statistics that arrive too late 
for inclusion in the transaction month) and to include errata (corrections 
to the published monthly data).  Once these corrections were completed, 
factors for seasonal adjustments, working day adjustments, and constant 
dollars were recomputed, and the seasonally adjusted and constant dollars 
series were revised for 1995, 1996, 1997, and the first quarter of 1998.

In addition, as part of the annual revision, all series were reviewed for 
their suitability for seasonal and trading-day adjustment.  This year 6 
additional series were adjusted.  The most significant of these was the 
introduction of seasonal adjustment for exports of civilian aircraft. This 
change results in a more accurate picture of seasonally adjusted total 
exports, particularly when the data are aggregated on a quarterly basis.  
The BEA will carry this adjustment through the International Transactions 
Accounts and the National Income and Product Accounts, where it will 
improve the reliability of the quarterly Gross Domestic Product estimates.

The monthly pattern of exports of civilian aircraft exhibits high 
variability and was not previously adjusted because it did not meet all 
of the usual criteria for seasonal adjustment of individual series.  
This year, however, after considering the contribution of adjusting 
civilian aircraft to improving the accuracy of seasonally adjusted total 
exports, a decision was made to adjust this series.  At this time next 
year, as part of the regular review of all trade series, the agencies 
will assess the effects of seasonally adjusting exports of civilian 
aircraft on the monthly and quarterly trade statistics and on the yearly 
revisions to the statistics to determine whether to continue the practice.
     
Services

Several major improvements and reclassifications are introduced to the 
services estimates.  "Other" private services and royalties and license 
fees incorporate newly available information from BEA's 1994 Benchmark 
Survey of U.S. Direct Investment Abroad; for the period after 1994, the 
estimates are revised by extrapolating forward the 1994 universe data and 
by incorporating new or adjusted data from BEA's quarterly sample surveys 
for 1995-97.  In addition, to consolidate all nonfinancial leasing 
transactions into one account, the leasing of transportation equipment, 
which was previously included with "other" transportation, has been 
reclassified to "other" private services.  Similarly, computer software 
royalties and license fees are reclassified from the "other" private 
services accounts to the royalties and license fees accounts. For the 
"other" transportation accounts, revised estimates of freight charges for 
land transportation between the United States and Canada are introduced.  
In addition to these improvements, the services estimates are revised to 
reflect newly available and updated source data.


Seasonally Adjusted

Exhibit 1  International Trade in Goods and Services	                4

Exhibit 2  Goods and Services Centered 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  Petroleum and Non-Petroleum End-Use Category Totals	       14

Exhibit 10  Exports and Imports of Goods by Principal End-Use
            Category (Constant Dollars)	                               15

Exhibit 11  Exports, Imports, and Balance of Goods, Petroleum and 
            Non-Petroleum End-Use Commodity Category Totals 
            (Constant 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 
            Commodity Groupings                                        21

Exhibit 16  Exports, Imports, and Balance of Advanced 
            Technology Products                                        23

Exhibit 17  Imports of Energy - Related Petroleum Products, 
            Including Crude Petroleum                                  24

Exhibit 18  Exports and Imports of Motor Vehicles and Parts By 
            Selected Countries                                         25

Information on Goods and Services	                               26

SOURCE: Report FT900 (CB-98-101), Bureau of the Census, Foreign Trade
        Division, APRIL 1998.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), 
        Foreign Trade Division.