
This release contains sensitive economic data not to be released 
before 8:30 a.m. Friday, July 17, 1998	

  CB-98-120      Press Copy 
  FT-900 (98-05)

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 May 1998

Goods and Services

     The Bureau of the Census and the Bureau of Economic Analysis, 
through the Department of Commerce, announced today that total May 
exports of $76.2 billion and imports of $92.0 billion resulted in a 
goods and services deficit of $15.7 billion, $1.5 billion more than 
the $14.3 billion in April, revised.  May exports were $1.0 billion 
less than April exports of $77.2 billion.  May imports were $0.5 billion 
more than April imports of $91.5 billion.  

     In May, the goods deficit increased $1.5 billion from April to 
$22.8 billion, and the services surplus was virtually unchanged at $7.1 
billion.  Exports of goods decreased to $54.4 billion from $55.3 billion, 
and imports of goods increased to $77.2 billion from $76.7 billion. 
Exports and imports of services were virtually unchanged at $21.9 billion 
and $14.8 billion, respectively.

Goods
	
     The April to May change in exports of goods reflected decreases in 
automotive vehicles, parts, and engines of $0.5 billion (primarily trucks); 
other goods ($0.2 billion); foods, feeds, and beverages ($0.1 billion);  
capital goods ($0.1 billion); and consumer goods ($0.1 billion).  An 
increase occurred in  industrial supplies and materials of $0.1 billion.
 
     The April to May change in imports of goods reflected increases in 
capital goods $0.8 billion (primarily computer accessories and civilian 
aircraft);  automotive vehicles, parts, and engines  ($0.4 billion); and 
industrial supplies and materials ($0.1 billion).  Decreases occurred in  
consumer goods ($0.4 billion); and other goods ($0.3 billion).  Foods, 
feeds, and beverages were virtually unchanged.

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 and imports in May were virtually the same as in 
April.  For both exports and imports small decreases in some categories 
were largely offset by small increases in others.

Goods and Services Moving Average 

     For the three months ending in May, exports of goods and services 
averaged $77.5 billion, while imports of goods and services averaged 
$91.9 billion, resulting in an average trade deficit of $14.4 billion.  
For the three months ending in April, the average trade deficit was 
$13.1 billion, reflecting average exports of $78.0 billion and average 
imports of $91.1 billion.

Selected Not Seasonally Adjusted Goods Details 

     The May figures showed surpluses, in billions of dollars, with 
Australia $0.5 (for April $0.5), Hong Kong $0.4 ($0.3), Brazil $0.4 ($0.4), 
Argentina $0.3 ($0.3), and Egypt $0.1 ($0.2).  Deficits were recorded, in  
billions  of  dollars, with  Japan -$5.0 (-$5.4), China -$4.6 (-$4.3), 
Western Europe -$1.7 (-$3.2), Mexico -$1.5 ($-1.3), Canada -$1.5 (-$1.1), 
Taiwan -$1.2 (-$1.1),  OPEC -$1.1 (-$1.2), Korea -$0.6 (-$0.5), and  
Singapore -$0.3 (-$0.4).

     Advanced technology products (ATP) exports were $14.6  billion in 
May and imports were $12.3 billion, resulting in a surplus of $2.3 billion.  
May exports were $0.2 billion more than the $14.4 billion in April, while 
imports were virtually unchanged.

Revisions
	
     Carry-over in May was $0.4 billion (0.7 percent) for exports and $0.7 
billion (0.9 percent) for imports.  For April, revised export carry-over 
was $0.1 billion (0.2 percent), revised down from $0.6 billion (1.1 percent).  
For April, revised import carry-over was $0.1 billion (0.1 percent), revised 
down from $0.8 billion (1.1 percent).

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-98-120), Bureau of the Census, Foreign Trade
        Division, MAY 1998.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), 
        Foreign Trade Division.