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

  CB-98-148      Press Copy 
  FT-900 (98-06)

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: Ralph Morris           (202) 606-2649

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

Goods and Services

     The Bureau of the Census and the Bureau of Economic Analysis, through 
the Department of Commerce, announced today that total June exports of 
$76.2 billion and imports of $90.3 billion resulted in a goods and 
services deficit of $14.2 billion, $1.4 billion less than the $15.5 billion
in May, revised.  June exports were $0.4 billion less than May exports 
of $76.6 billion.  June imports were $1.8 billion less than May imports 
of $92.1 billion.  

     In June, the goods deficit decreased $1.7 billion from May to $20.9 
billion, and the services surplus decreased $0.3 billion to $6.8 billion.  
Exports of goods decreased to $54.6 billion from $54.7 billion, and imports 
of goods decreased to $75.5 billion from $77.3 billion. Exports of services 
decreased to $21.6 billion from $21.9 billion and imports of services
were virtually unchanged at $14.8 billion.

Goods
     
     The May to June change in exports of goods reflected decreases in 
industrial supplies and materials of $0.5 billion (primarily organic 
chemicals and platinum); automotive vehicles, parts, and engines 
($0.4 billion); and other goods ($0.1 billion). Increases occurred in  
capital goods ($0.6 billion);  consumer goods  ($0.3 billion); and foods,
feeds, and beverages ($0.1 billion).  
 
     The May to June change in imports of goods reflected decreases in 
capital goods of $0.9 billion (primarily computer accessories and 
semiconductors); industrial supplies and materials ($0.7 billion); and
automotive vehicles, parts, and engines ($0.7 billion).  Increases 
occurred in consumer goods ($0.3 billion); foods, feeds, and beverages 
($0.1 billion); and other 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 $0.3 billion from May to June.  A decrease 
in travel of $0.2 billion and small decreases in most other categories were 
partly offset by an increase in other private services of $0.1 billion.

     Services imports in June were virtually the same as in May.  Small 
decreases in travel and in passenger fares were nearly offset by small 
increases in several other categories.

Goods and Services Moving Average 

     For the three months ending in June, exports of goods and services 
averaged $76.7 billion, while imports of goods and services averaged $91.3 
billion, resulting in an average trade deficit of $14.7 billion.  For the 
three months ending in May, the average trade deficit was $14.3 billion, 
reflecting average exports of $77.7 billion and average imports of $92.0 
billion.

Selected Not Seasonally Adjusted Goods Details 

     The June figures showed surpluses, in billions of dollars, with 
Australia $0.5 (for May $0.5), Argentina $0.4 ($0.3),  Brazil  $0.4 ($0.4), 
Hong Kong $0.2 ($0.4), and Egypt $0.2 ($0.1).  Deficits were recorded, in 
billions  of  dollars, with  Japan -$5.3 (-$5.0), China -$4.7 (-$4.6),  
Western  Europe  -$3.0 (-$1.7), Mexico -$1.6 ($-1.5), Taiwan -$1.5 (-$1.2),
Canada -$1.2 (-$1.3), Korea -$0.9 (-$0.6), OPEC -$0.7 (-$1.1), and  
Singapore -$0.2 (-$0.3).

     Advanced technology products (ATP) exports were $15.5  billion in June 
and imports were $13.4 billion, resulting in a surplus of $2.1 billion.  
June exports were $1.0 billion more than the $14.6 billion in May, while 
imports were $1.1 billion more than the $12.3 billion in May.

Revisions
     
     Carry-over in June was $0.7 billion (1.2 percent) for exports and $0.9 
billion (1.2 percent) for imports.  For May, revised export carry-over was 
$0.1 billion (0.2 percent), revised down from $0.4 billion (0.7 percent).  
For May, revised import carry-over was $0.1 billion (0.1 percent), revised 
down from $0.7 billion (0.9 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-98-148), Bureau of the Census, Foreign Trade
        Division, JUNE 1998.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), 
        Foreign Trade Division.