                             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,
April 17, 2002                                             
                                
CB-02-48 Press Copy 
FT-900 (02-02)

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
                                       February 2002


Goods and Services

The Bureau of the Census and the Bureau of Economic Analysis, through the 
Department of Commerce, announced today that total February exports of 
$79.2 billion and imports of $110.7 billion resulted in a goods and 
services deficit of $31.5 billion, $3.3 billion more than the $28.2
billion in January, revised.  February exports were $1.0 billion more 
than January exports of $78.2 billion.  February imports were $4.2 
billion more than January imports of $106.5 billion.

In February, the goods deficit increased $3.2 billion from January to 
$36.9 billion, and the services surplus decreased $0.1 billion to $5.4 
billion.  Exports of goods increased to $55.1 billion from $55.0 billion,
and imports of goods increased to $92.1 billion from $88.8 billion.  
Exports of services increased to $24.1 billion from $23.2 billion, and 
imports of services increased to $18.6 billion from $17.7 billion.

Goods
     
The January to February change in exports of goods reflected increases 
in other goods ($0.2 billion); automotive vehicles, parts, and engines 
($0.2 billion); industrial supplies and materials ($0.1 billion); and 
foods, feeds, and beverages ($0.1 billion).  A decrease occurred in 
capital goods ($0.2 billion).  Consumer goods were virtually unchanged.

The January to February change in imports of goods reflected increases 
in automotive vehicles, parts, and engines ($1.6 billion); consumer 
goods ($1.1 billion); capital goods ($0.5 billion); foods, feeds, and
beverages ($0.2 billion); and industrial supplies and materials 
($0.1 billion).  A decrease occurred in other goods ($0.1 billion).

Services
     
Services exports increased $0.8 billion from January to February.  
The increase was mostly accounted for by increases in travel, passenger
fares, and other private services (which includes items such as 
business, professional, and technical services, insurance services, 
and financial services).  The increases in travel and passenger fares 
reflect further, but still incomplete, recovery from the post-September 
11th lows recorded in October.  The increase in other private services 
was largely related to funding provided by the International Olympic
Committee for the 2002 Winter Olympic Games.  Changes in the other 
categories of services exports were small. 

Services imports increased $0.9 billion from January to February.  
Royalties and license fees increased $0.6 billion; it includes payments 
to the International Olympic Committee for the rights to broadcast 
the 2002 Winter Olympic Games.  Travel and passenger fares increased, 
reflecting continued recovery from the post-September 11th lows.  Other
private services also increased.  Changes in the other categories of 
services imports were small.  

Goods and Services Moving Average 

For the three months ending in February, exports of goods and services 
averaged $78.5 billion, while imports of goods and services averaged 
$106.6 billion, resulting in an average trade deficit of $28.2
billion.  For the three months ending in January, the average trade 
deficit was $27.2 billion, reflecting average exports of $78.1 billion 
and average imports of $105.3 billion.
                             
Selected Not Seasonally Adjusted Goods Details 

The February figures showed surpluses, in billions of dollars, with 
Australia $0.5 (for January $0.4), Egypt $0.4 ($0.1), and Hong Kong 
$0.3 ($0.1). Deficits were recorded, in billions of dollars, with
China $6.5 ($6.9), Japan $5.7 ($4.8), Western Europe $4.8 ($5.0), 
Canada $3.9 ($4.4), Mexico $2.7 ($2.3), OPEC $1.9 ($2.6), Taiwan 
$1.1 ($1.3), Korea $1.0 ($1.1), and Argentina $0.1 ($0.2).

Advanced technology products (ATP) exports were $13.1 billion in 
February and imports were $14.6 billion, resulting in a deficit of 
$1.5 billion.  February exports were $0.4 billion less than the 
$13.5 billion in January, while imports were $0.2 billion less 
than the $14.8 billion in January.

Revisions
     
Goods carry-over in February was $0.6 billion (1.1 percent) for exports 
and $0.7 billion (0.8 percent) for imports.  For January, revised 
export carry-over was $0.2 billion (0.4 percent), revised down from 
$0.4 billion (0.8 percent).  For January, revised import carry-over 
was $0.2 billion (0.2 percent), revised down from $0.8 billion (0.9
percent).

Services exports for January were revised up $0.1 billion to $23.2 
billion; the revision was mostly accounted for by an upward revision 
in travel.  Services imports for January were revised up $0.1
billion to $17.7 billion; the revision was mostly accounted for by 
upward revisions in other private services and 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-02-48), Bureau of the Census, Foreign Trade
        Division, February 2002.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


