

                         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,
December 19, 2001                                   
                                
CB-01-196 Press Copy 
FT-900 (01-10)

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
                                October 2001

Goods and Services

The Bureau of the Census and the Bureau of Economic Analysis, through the
Department of Commerce, announced today that total October exports of
$77.3 billion and imports of $106.8 billion resulted in a goods and services
deficit of $29.4 billion, $10.4 billion more than the $19.0 billion in
September, revised.  October exports were $0.5 billion more than September
exports of $76.8 billion.  October imports were $11.0 billion more than
September imports of $95.8 billion.  

In October, the goods deficit decreased $0.5 billion from September to $35.0
billion, and the services surplus decreased $11.0 billion to $5.6 billion.
Exports of goods increased to $56.6 billion from $55.6 billion, and imports
of goods increased to $91.6 billion from $91.1 billion.  Exports of services
decreased to $20.7 billion from $21.2 billion, and imports of services
increased to $15.2 billion from $4.7  billion.

Goods
     
The September to October change in exports of goods reflected increases in
industrial supplies and materials ($0.4 billion); consumer goods ($0.2
billion);  foods, feeds, and beverages ($0.2 billion); other goods ($0.2
billion); and capital goods ($0.2 billion). A decrease occurred in automotive
vehicles, parts, and engines ($0.1 billion).

The September to October change in imports of goods reflected increases in
capital goods ($0.5 billion); consumer goods ($0.2 billion); other goods
($0.2 billion); and automotive vehicles, parts, and engines ($0.1 billion).
A decrease occurred in industrial supplies and materials ($0.6 billion). 
Foods, feeds, and beverages were virtually unchanged.

Services
     
Services exports decreased $0.4 billion from September to October.  The
decrease was more than accounted for by decreases in travel and passenger
fares.  Changes in the other categories of services exports were small.   

Services imports increased $10.5 billion from September to October.  A large
increase in other private services (which includes items such as business,
professional, and technical services, insurance services, and financial
services) was partly offset by decreases in travel and  passenger fares. 
The increase in other private services was mostly accounted for by a sharp
increase in insurance services, which are measured as premiums paid less
claims received.  Claims received, which are recorded on an accrual basis,
returned to normal levels after increasing sharply in September as a result
of the terrorist attacks of September 11.  As explained in last month's
release, BEA adjusted its source data for insurance services in September to
account for the economic impact of the terrorist attacks that was not fully
captured in BEA's source data.  Changes in the other categories of services
imports were small.

Goods and Services Moving Average 

For the three months ending in October, exports of goods and services
averaged $79.3 billion, while imports of goods and services averaged $104.8
billion, resulting in an average trade deficit of $25.5 billion.  For the
three months ending in September, the average trade deficit was $25.7 billion,
reflecting average exports of $81.1 billion and average imports of $106.9
billion.

Selected Not Seasonally Adjusted Goods Details 

The October figures showed surpluses, in billions of dollars, with Egypt
$0.6 (for September $0.2), Singapore $0.5 ($0.5), Australia $0.3 ($0.3), and
Hong Kong $0.1 ($0.3).  Deficits were recorded, in billions of dollars, with
China $9.2 ($8.5), Japan $7.0 ($5.4), Canada $3.8 ($4.2), Western Europe
$7.6 ($3.8), OPEC $3.1 ($3.3),  Mexico $2.6 ($3.0), Taiwan $1.5 ($1.2), Korea
$1.6 ($0.8), and Brazil $0.1 (virtually zero).

Advanced technology products (ATP) exports were $15.7 billion in October and
imports were $16.9 billion, resulting in a deficit of $1.2 billion. October
exports were $0.9 billion more than the $14.8 billion in September, while
imports were $2.0 billion more than the $15.0 billion in September.

Revisions
     
Goods carry-over in October was $0.3 billion (0.5 percent) for exports and
$0.9 billion (0.9 percent) for imports.  For September, revised export carry-
over was $0.1 billion (0.2 percent), revised down from $0.3 billion (0.5
percent).  For September, revised import carry-over was $0.2 billion (0.2
percent), revised down from $1.2 billion (1.3 percent).

Services exports and imports for April through September 2001 were revised
to incorporate revisions to BEA's quarterly U.S. international transactions
accounts, which were released December 12 (see page 30 for the monthly
revision policy).  The revised quarterly and monthly estimates are based on
more complete source data than were available previously.  Services exports
for September were revised down $0.6 billion to $21.2 billion; the revision
was mostly accounted for by downward revisions in transfers under U.S.
military sales contracts and travel.  Services imports for September were
revised up $0.2 billion to $4.7 billion; the revision was mostly accounted
for by an upward revision in other private services.
     

                                 
         Scheduled release dates in 2002 are located on page 30
                                
                             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-01-196), Bureau of the Census, Foreign Trade
        Division, October 2001.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


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