                         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. Tuesday,
March 19, 2002

CB-02-37 Press Copy 
FT-900 (02-03)

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:      Ed Dozier        (202) 606-9559


                 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                                  January 2002

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
$78.0 billion and imports of $106.5 billion resulted in a goods and services
deficit of $28.5 billion, $3.8 billion more than the $24.7 billion in
December, revised.  January exports were $0.1 billion less than December
exports of $78.0 billion.  January imports were $3.7 billion more than
December imports of $102.8 billion.  

In January, the goods deficit increased $3.1 billion from December to
$34.1 billion, and the services surplus decreased $0.7 billion to $5.6
billion.  Exports of goods decreased to $54.8 billion from $55.0 billion,
and imports of goods increased to $88.9 billion from $85.9 billion. 
Exports of services were virtually unchanged at $23.1 billion, and imports
of services increased to $17.6 billion from $16.8 billion.

Goods
     
The December to January change in exports of goods reflected decreases in
consumer goods ($0.4 billion); other goods ($0.3 billion); and industrial
supplies and materials ($0.2 billion).  Increases occurred in capital goods
($0.2 billion); automotive vehicles, parts, and engines ($0.2 billion); and
foods, feeds, and beverages ($0.1 billion).
 
The December to January change in imports of goods reflected increases in
consumer goods ($1.4 billion); capital goods ($1.2 billion); industrial
supplies and materials ($0.8 billion); and foods, feeds, and beverages
($0.1 billion).  Decreases occurred in automotive vehicles, parts, and
engines ($0.5 billion) and other goods ($0.1 billion).

Services
     
Travel and passenger fares continued to rise, but at a slower pace, from
post-September 11 lows recorded in October.  Travel and passenger fare
receipts and payments are still substantially below their pre-September 11th
levels.

Services exports were virtually unchanged from December to January.  A $0.1
billion decrease in transfers under U.S. military sales contracts was more
than offset by slight increases in most other categories.

Services imports increased $0.8 billion from December to January.  The
largest increase ($0.5 billion) was in other private services (which includes
items such as business, professional, and technical services, insurance
services, and financial services).  The increase was mostly accounted for by
a sharp increase in reinsurance payments, due to increases in premiums as a
consequence of the September 11th terrorist attacks.  Travel and other
transportation also increased.

Goods and Services Moving Average 

For the three months ending in January, exports of goods and services
averaged $78.0 billion, while imports of goods and services averaged $105.3
billion, resulting in an average trade deficit of $27.2 billion.  For the
three months ending in December, the average trade deficit was $27.6 billion,
reflecting average exports of $78.0 billion and average imports of $105.6
billion.

Selected Not Seasonally Adjusted Goods Details 

The January figures showed surpluses, in billions of dollars, with Australia
$0.4 (for December $0.5), Singapore $0.2 ($0.2), Egypt $0.1 ($0.1), and Hong
Kong $0.1 ($0.5).  Deficits were recorded, in billions of dollars, with
China $6.9 ($5.5), Western Europe $5.0 ($4.0), Japan $4.8 ($5.0), Canada
$4.4 ($3.8), OPEC $2.6 ($2.0), Mexico $2.3 ($2.0), Taiwan $1.3 ($1.1), Korea
$1.1 ($1.0).  Argentina $0.2 (virtually zero), and Brazil $0.1 (virtually
zero).

Advanced technology products (ATP) exports were $13.5 billion in January and
imports were $14.8 billion, resulting in a deficit of $1.3 billion.  January
exports were $1.7 billion less than the $15.2 billion in December, while
imports were $0.2 billion less than the $15.0 billion in December.

Revisions
     
Goods carry-over in January was $0.4 billion (0.8 percent) for exports and
$0.8 billion (0.9 percent) for imports.  For December, revised export carry-
over was $0.2 billion (0.4 percent), revised down from $0.4 billion (0.7
percent).  For December, revised import carry-over was $0.1 billion (0.2
percent), revised down from $1.1 billion (1.3 percent).
     
Goods and services exports and imports for all months of 2001 were revised
in order to align the seasonally adjusted monthly estimates with quarterly
and annual totals.

Services exports and imports for July through December 2001 were revised to
incorporate revisions to BEA's quarterly U.S. international transactions
accounts, which were released March 14 (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.  For services exports,
the largest revisions were in other private services.  For services imports,
the largest revisions were in travel and passenger fares. 

Services exports for December 2001 were revised up $0.2 billion to $23.1
billion; upward revisions in other private services and royalties and
license fees were partly offset by a downward revision in travel.  Services
imports for December 2001 were revised down $0.1 billion to $16.8 billion;
the revision was more than accounted for by downward revisions in royalties
and license fees and other private services.


                                     Notice
                                                             
 
Effective with this release, the Bureau of Economic Analysis and the U.S.
Census Bureau have made reassignments of commodities in the End-use
Classification System.  The reassignments were made to achieve a consistent
classification between exports and imports, and to improve consistency with
the North American Industry Classification System.  The changes were based
on recommendations from the Bureau of Economic Analysis, the U.S. Census
Bureau, and other federal agencies.  The reassignments also reflect the
result of the work of the World Customs Organization (WCO) as part of its
long-term program to review the nomenclature of the international Harmonized
System, from which the end-use classifications are derived.  The last set of
WCO modifications to the Harmonized System was introduced in January 1996.
Nearly all of the changes effective with this release involve reclassification
within 1-digit end-use commodity categories.  Changes to the levels of each
1-digit category are small, resulting in level changes of less than one half
of one percent in nearly all instances.  Historical data on the newly
developed basis for 1999, 2000, and 2001 will appear in the April FT-900
release, the Annual Revision for 2001 release, and BEA's International
Transactions release all to be released on June 20, 2002.


                               Table of Contents

                                 January  2002


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-02-37), Bureau of the Census, Foreign Trade
        Division, January 2002.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


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