
This release contains sensitive economic
data not to be released before 8:30 a.m. Thursday,
March 18, 1999     

CB-99-55      Press Copy 
FT-900 (99-01)

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
                           January 1999
Goods and Services

     The Bureau of the Census and the Bureau of Economic Analysis, through 
the Department of Commerce, announced today that total January exports of 
$76.8 billion and imports of $93.8 billion resulted in a goods and services 
deficit of $17.0 billion, $2.9 billion more than the $14.1 billion in December, 
revised.  January exports were $1.1 billion less than December exports of 
$77.9 billion.  January imports were $1.8 billion more than December imports 
of $91.9 billion.  

     In January, the goods deficit increased $2.9 billion from December to 
$23.4 billion, and the services surplus was virtually unchanged at $6.4 
billion.  Exports of goods decreased to $54.8 billion from $56.1 billion, and 
imports of goods increased to $78.3 billion from $76.6 billion. Exports of 
services increased to $21.9 billion from $21.7 billion, and imports of 
services increased to $15.5 billion from $15.3 billion.

Goods
     
     The December to January change in exports of goods reflected decreases in 
industrial supplies and materials  of  $0.5 billion  (primarily  cotton and
fertilizers), foods, feeds, and beverages ($0.4 billion), other goods 
($0.3 billion), automotive vehicles, parts, and engines ($0.2 billion), and 
capital goods ($0.2 billion).  Consumer goods were virtually unchanged.
 
     The December to January change in imports of goods reflected increases 
in capital goods of $0.7 billion (primarily computer accessories), consumer 
goods ($0.5 billion), other goods ($0.2 billion),industrial supplies and 
materials ($0.2 billion), automotive vehicles, parts, and engines ($0.1
billion), and foods, feeds, and beverages ($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 increased $0.2 billion from December to January, 
reflecting small increases in nearly all categories.
 
     Services imports increased $0.2 billion from December to January, mostly 
reflecting an increase in travel.   Changes to the other categories of 
services imports were small.

Goods and Services Moving Average 

     For the three months ending in January, exports of goods and services 
averaged $77.9 billion, while imports of goods and services averaged $93.3 
billion, resulting in an average trade deficit of $15.4 billion.  For the 
three months ending in December, the average trade deficit was $14.4 billion, 
reflecting average exports of $79.1 billion and average imports of $93.5 
billion.



Selected Not Seasonally Adjusted Goods Details

     The January figures showed surpluses, in billions of dollars, with 
Australia $0.4 (for December $0.4), Brazil $0.3 ($0.6), Argentina $0.2 ($0.3), 
Egypt $0.2 ($0.3), Hong Kong $0.1 ($0.3) and Singapore $0.1 (virtually zero).  
Deficits were recorded, in billions of  dollars, with China -$4.9 (-$4.0), Japan
-$4.7  (-$5.9),  Canada  -$2.7 (-$2.2), Mexico -$1.4 (-$1.3),    Western  
Europe -$1.4   (-$3.4),   Taiwan -$1.2  (-$1.2), OPEC -$0.9 (-$0.1) and 
Korea -$0.5 ($0.3).
     
     Advanced technology products (ATP) exports were $15.5 billion in January 
and imports were $12.1 billion, resulting in a surplus of $3.5 billion. 
January exports were $3.5 billion less than the $19.0 billion in December, 
while imports were $1.6 billion less than the $13.7 billion in December.

Revisions
     
     Goods carry-over in January was $0.5 billion (1.0 percent) for exports 
and $0.8 billion (1.1 percent) for imports.  For December, revised export 
carry-over was $0.3 billion (0.5 percent), revised down from $1.1 billion 
(1.9 percent).  For December, revised import carry-over was $0.2 billion 
(0.3 percent), revised down from $1.1 billion (1.4 percent).

     Services exports and imports for January through December 1998 were 
revised to reflect BEA's revised quarterly U.S. international transactions 
accounts (ITA's), which were released March 11 (see the Information on Goods 
and Services section at the end of this release for the monthly revision 
policy).  For July through December 1998, the revised quarterly and monthly 
estimates are based on more complete source data than were available 
previously.  For services exports, the largest revisions were in other 
private services, royalties and license fees, and travel.  For services 
imports, the largest revisions were in other private services and travel.  
In addition, all months of 1998 include revisions from forcing the seasonally
adjusted months to sum to the quarterly and annual totals in the ITA's.  
For December, services exports were revised down $0.2 billion and services 
imports were revised down $0.1 billion.  The revision to both exports and 
imports were more than accounted for by other private services.

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-99-55), Bureau of the Census, Foreign Trade
        Division, January 1999.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Richard M. Preuss (301-457-2311), 
        Foreign Trade Division.