


                          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. Wednesday,
September 19, 2001                                  
                                
CB-01-150 Press Copy 
FT-900 (01-07)

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
                                    July 2001

Goods and Services

The Bureau of the Census and the Bureau of Economic Analysis, through the
Department of Commerce, announced today that total July exports of $83.7
billion and imports of $112.6 billion resulted in a goods and services
deficit of $28.8 billion, $0.2 billion less than the $29.1 billion in June,
revised.  July exports were $2.2 billion less than June exports of $85.9
billion.  July imports were $2.4 billion less than June imports of $115.0
billion.

In July, the goods deficit decreased $0.1 billion from June to $35.4 billion,
and the services surplus increased $0.1 billion to $6.6 billion.  Exports of
goods decreased to $58.8 billion from $60.8 billion, and imports of goods
decreased to $94.2 billion from $96.4 billion.  Exports of services decreased
to $24.9 billion from $25.1 billion, and imports of services decreased to
$18.3 billion from $18.6 billion.

Goods
     
The June to July change in exports of goods reflected decreases in capital
goods ($0.6 billion); industrial supplies and materials ($0.6 billion); 
automotive vehicles, parts, and engines ($0.4 billion); and other goods
($0.3 billion).  An increase occurred in consumer goods ($0.1 billion).
Foods, feeds, and beverages were virtually unchanged.
 
The June to July change in imports of goods reflected decreases in capital
goods ($0.8 billion); industrial supplies and materials ($0.7 billion);
automotive vehicles, parts, and engines ($0.4 billion); and consumer goods
($0.2 billion).  Increases occurred in foods, feeds, and beverages
($0.1 billion) and other goods ($0.1 billion).

Services
     
Services exports decreased $0.1 billion from June to July, mostly reflecting
decreases in travel and other transportation.  Changes in the other
categories of services exports were small and nearly offsetting.

Services imports decreased $0.2 billion from June to July.  The decrease
was more than accounted for by decreases in travel and other transportation.
Changes in the other categories of services imports were small and nearly
offsetting.

Goods and Services Moving Average

For the three months ending in July, exports of goods and services averaged
$85.7 billion, while imports of goods and services averaged $114.4 billion,
resulting in an average trade deficit of $28.7 billion.  For the three months
ending in June, the average trade deficit was $29.6 billion, reflecting
average exports of $86.8 billion and average imports of $116.4 billion.

Selected Not Seasonally Adjusted Goods Details

The July figures showed surpluses, in billions of dollars, with Australia
$0.3 (for June $0.4), Egypt $0.3 ($0.1), Singapore $0.2 ($0.3), Brazil $0.2
($0.4), Hong Kong $0.2 ($0.4), and Argentina $0.1 ($0.1).  Deficits were
recorded, in billions  of dollars, with Western Europe -$8.6 (-$4.5),
China -$7.5 (-$6.6), Japan -$5.9 (-$5.0), Canada -$4.7 (-$4.3), OPEC -$3.6
(-$3.6), Mexico -$2.9 (-$3.1), Taiwan -$1.3 (-$1.5), and Korea -$1.0 (-$1.1).

Advanced technology products (ATP) exports were $15.1 billion in July and
imports were $16.5 billion, resulting in a deficit of $1.4 billion.  July 
exports were $2.6 billion less than the $17.7 billion in June, while imports
were $0.1 billion less than the $16.6 billion in June.

Revisions
     
Goods carry-over in July was $0.5 billion (0.9 percent) for exports and
$0.4 billion (0.4 percent) for imports.  For June, revised export carry-over
was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5 percent).
For June, revised import carry-over was $0.2 billion (0.2 percent), revised
down from $0.7 billion (0.7 percent).

Services exports and imports for January through June 2001 were revised to
incorporate revisions to BEA's quarterly U.S. international transactions
accounts (ITA's), which were released September 12 (see page 29 for the
revision policy).  The revised quarterly and monthly estimates are based on
more complete source data than were available previously.

Services exports for June were revised down $0.1 billion to $25.1 billion.
Downward revisions in other private services (which includes items such as
business, professional, and technical services and financial services) and
royalties and license fees were partly offset by an upward revision in
transfers under U.S. military sales contracts.  Services imports for June
were revised down $0.3 billion, to $18.6 billion.  Downward revisions in
royalties and license fees and other private services were partly offset by
an upward revision in travel.
     
 
                       Table of Contents

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-01-150), Bureau of the Census, Foreign Trade
        Division, July 2001.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


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