                          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. Friday,
May 17, 2002                                          
                                
CB-02-65 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:      Larry Moran       (202) 606-2649

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

Goods and Services

The Bureau of the Census and the Bureau of Economic Analysis, through the 
Department of Commerce, announced today that total March exports of $79.2 billion 
and imports of $110.8 billion resulted in a goods and services deficit of $31.6 
billion, down from $31.8 billion in February, revised.  March exports were $0.5
billion more than February exports of $78.7 billion.  March imports were $0.3 
billion more than February imports of $110.5 billion.

In March, the goods deficit increased $0.2 billion from February to $37.1 billion, 
and the services surplus increased $0.3 billion to $5.5 billion.  Exports of goods 
increased to $55.1 billion from $54.9 billion, and imports of goods increased to 
$92.2 billion from $91.8 billion.  Exports of services increased to $24.1 billion 
from $23.8 billion, and imports of services were virtually unchanged at $18.7 
billion.

Goods
     
The February to March change in exports of goods reflected increases in capital 
goods ($0.6 billion); automotive vehicles, parts, and engines ($0.1 billion);
and other goods ($0.1 billion).  Decreases occurred in foods, feeds, and beverages 
($0.4 billion) and industrial supplies and materials ($0.1 billion). Consumer goods 
were virtually unchanged.

The February to March change in imports of goods reflected increases in industrial 
supplies and materials ($0.8 billion); other goods ($0.3 billion); and capital
goods ($0.1 billion).  Decreases occurred in automotive vehicles, parts, and 
engines ($0.6 billion); consumer goods ($0.2 billion); and foods, feeds, and
beverages ($0.1 billion). 

Services
       
Services exports increased $0.3 billion from February to March.  The increase was 
more than accounted for by increases in travel, passenger fares, and other 
transportation.  Other private services (which includes items such as business,
professional, and technical services, insurance services, and financial services) 
decreased.  Other private services had been boosted in February by receipts 
related to funding provided by the International Olympic Committee for the 2002
Winter Olympic Games.

Services imports were virtually unchanged from February to March.  Increases in 
travel, other private services, passenger fares, and other transportation were 
offset by a large decrease in royalties and license fees.  Royalties and license
fees had been boosted in February by payments for the rights to broadcast the 
2002 Winter Olympic Games. 

Goods and Services Moving Average 

For the three months ending in March, exports of goods and services averaged 
$78.7 billion, while imports of goods and services averaged $109.3 billion, 
resulting in an average trade deficit of $30.5 billion.  For the three months 
ending in February, the average trade deficit was $28.2 billion, reflecting
average exports of $78.3 billion and average imports of $106.6 billion.                     

Selected Not Seasonally Adjusted Goods Details 

The March figures showed surpluses, in billions of dollars, with Australia $0.6 
(for February $0.5), Hong Kong $0.5 ($0.3), Singapore $0.5 (virtually zero), and
Egypt $0.3 ($0.4).  Deficits were recorded, in billions of dollars, with Japan 
$5.7 ($5.7), China $5.6 ($6.5), Western Europe $5.5 ($4.8), Canada $3.9 ($4.0),
Mexico $3.5 ($2.7), OPEC $2.4 ($1.9), Korea $1.1 ($1.0), Taiwan $0.9 ($1.1), and 
Argentina $0.1 ($0.1).

Advanced technology products (ATP) exports were $17.0 billion in March and 
imports were $16.2 billion, resulting in a surplus of $0.8 billion.  March
exports were $3.9 billion more than the $13.1 billion in February, while imports 
were $1.7 billion more than the $14.6 billion in February.

Revisions
     
Goods carry-over in March was $0.2 billion (0.3 percent) for exports and $0.3 
billion (0.3 percent) for imports.  For February, revised export carry-over
was $0.2 billion (0.4 percent), revised down from $0.6 billion (1.1 percent).  
For February, revised import carry-over was $0.2 billion (0.2 percent), revised 
down from $0.7 billion (0.8 percent).

Services exports for February were revised down $0.3 billion to $23.8 billion; 
the revision was mostly accounted for by a downward revision in travel. 
Services imports for February were virtually unrevised at $18.6 billion.




                                
                       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-02-65), Bureau of the Census, Foreign Trade
        Division, March 2002.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


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