

                         United States Department of
                                COMMERCE NEWS
                            Washington, D.C. 20230

                                 ECONOMICS
                                    AND
                                 STATISTICS
                               ADMINISTRATION
                                ------------
                            Bureau of the Census
                         Bureau of Economic Analysis
                                                                                                                                                                                                       
                                                                                            
                                
                                
This release contains sensitive economic data not to be released before
8:30 a.m. Thursday,
July 19, 2001                                       
                                
CB-01-117 Press Copy 
FT-900 (01-05)

For information on goods contact:
Bureau of the Census:
Haydn R. Mearkle  (301) 457-2246 
Nick Orsini       (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 2001

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 $87.7
billion and imports of $116.1 billion resulted in a goods and services
deficit of $28.3 billion, $3.7 billion less than the $32.0 billion in April,
revised.  May exports were $0.8 billion more than April exports of $86.9
billion.  May imports were $2.9 billion less than April imports of $118.9
billion.

In May, the goods deficit decreased $3.3 billion from April to $34.4 billion,
and the services surplus increased $0.4 billion to $6.1 billion.  Exports of
goods increased to $62.8 billion from $62.2 billion, and imports of goods
decreased to $97.2 billion from $99.8 billion.  Exports of services increased
to $24.9 billion from $24.8 billion, and imports of services decreased to
$18.8 billion from $19.1 billion.

Goods
     
The April to May change in exports of goods reflected increases in capital
goods ($0.3 billion); other goods ($0.3 billion); automotive vehicles,
parts, and engines ($0.2 billion); and consumer goods ($0.2 billion).
Decreases occurred in foods, feeds, and beverages ($0.2 billion) and
industrial supplies and materials ($0.1 billion).
 
The April to May change in imports of goods reflected decreases in capital
goods ($1.3 billion); consumer goods ($0.7 billion); automotive vehicles,
parts, and engines ($0.5 billion); and industrial supplies and materials
($0.3 billion).  Other goods and foods, feeds, and beverages were virtually
unchanged.

Services
     
Services exports increased $0.1 billion from April to May, mostly reflecting
increases in travel, passenger fares, and other private services (which
includes items such as business, professional, and technical services and
financial services).  Changes in the other categories of services exports
were small.

Services imports decreased $0.3 billion from April to May.  The decrease was
more than accounted for by decreases in travel and passenger fares.  Changes
in the other categories of services imports were small.

Goods and Services Moving Average 

For the three months ending in May, exports of goods and services averaged
$87.8 billion, while imports of goods and services averaged $118.9 billion,
resulting in an average trade deficit of $31.1 billion.  For the three months
ending in April, the average trade deficit was $31.2 billion, reflecting
average exports of $88.7 billion and average imports of $119.9 billion.

Selected Not Seasonally Adjusted Goods Details 

The May figures showed surpluses, in billions of dollars, with Hong Kong
$0.4 (for April $0.7), Australia $0.4 ($0.3), Singapore $0.3 (-$0.1), Egypt
$0.2 ($0.1), Brazil $0.2  ($0.2), and Argentina $0.1 ($0.1).  Deficits were
recorded, in billions of dollars, with China -$6.1 (-$6.3), Canada -$4.9
(-$4.5), Japan -$4.8 (-$6.4), Western Europe -$4.6 (-$5.8), OPEC -$4.1
(-$3.7), Mexico -$2.7 (-$2.2), Taiwan -$1.3 (-$1.2), and Korea -$1.1 (-$1.2).

Advanced technology products (ATP) exports were $17.2 billion in May and
imports were $15.3 billion, resulting in a surplus of $2.0 billion.  May
exports were $0.6 billion more than the $16.6 billion in April, while
imports were $0.9 billion less than the $16.2 billion in April.

Revisions
     
Goods carry-over in May was $0.3 billion (0.5 percent) for exports and $0.5
billion (0.5 percent) for imports.  For April, revised export carry-over
was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent).
For April, revised import carry-over was virtually zero, revised down from
$0.6 billion (0.6 percent).

Services exports for April were virtually unrevised at $24.8 billion.
Services imports for April were also virtually unrevised at $19.1 billion.
                               
           
            
                             Table of Contents
                                                                             
                                 May 2001
                
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-01-117), Bureau of the Census, Foreign Trade
        Division, May 2001.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


