


                                United States Department of
                                      COMMERCE NEWS  
                                   Washington, D.C. 20230             

                                         ECONOMICS
                                            AND
                                        STATISTICS
                                      ADMINISTRATION
                                       ------------
                                    U.S. Census Bureau
                               Bureau of Economic Analysis
                                                                                                                                                                                                                                                                       
                                
                                
This release contains sensitive economic data not to be released before 
8:30 a.m. Wednesday,
September 18, 2002                                    
                                
CB-02-119 Press Copy 
FT-900 (02-07)

For information on goods contact:
U.S. Census Bureau:
Haydn R. Mearkle  (301) 763-2246 
Nick Orsini       (301) 763-2311              

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 2002


Goods and Services

The U.S. Census Bureau and the Bureau of Economic Analysis, through the Department 
of Commerce, announced today that total July exports of $83.2 billion and imports 
of $117.8 billion resulted in a goods and services deficit of $34.6 billion, $2.2 
billion less than the $36.8 billion in June, revised.  July exports were $1.1
billion more than June exports of $82.2 billion.  July imports were $1.1 billion 
less than June imports of $118.9 billion.

In July, the goods deficit decreased $1.8 billion from June to $38.8 billion, and 
the services surplus increased $0.4 billion to $4.3 billion.  Exports of goods 
increased to $59.1 billion from $58.2 billion, and imports of goods decreased to 
$98.0 billion from $98.9 billion.  Exports of services increased to $24.1 billion 
from $23.9 billion, and imports of services decreased to $19.8 billion from $20.0 
billion.

Goods
     
The June to July change in exports of goods reflected increases in automotive 
vehicles, parts, and engines ($0.4 billion); other goods ($0.2 billion); consumer 
goods ($0.1 billion); and capital goods ($0.1 billion).  A decrease occurred in 
industrial supplies and materials ($0.1 billion).  Foods, feeds, and beverages were 
virtually unchanged.
 
The June to July change in imports of goods reflected decreases in consumer goods 
($0.6 billion); other goods ($0.3 billion); and capital goods ($0.3 billion).  
Increases occurred in industrial supplies and materials ($0.1 billion) and
foods, feeds, and beverages ($0.1 billion).  Automotive vehicles, parts, and engines 
were virtually unchanged.       
    
Services
     
Services exports increased $0.2 billion from June to July.  The increase was mostly 
accounted for by increases in other private services (which includes items such as 
business, professional, and technical services and financial services) and travel.  
Changes in the other categories of services exports were small.

Services imports decreased $0.2 billion from June to July.  The decrease was 
accounted for by a decrease in royalties and license fees.  Changes in the other
categories of services imports were small and offsetting.

Goods and Services Moving Average 

For the three months ending in July, exports of goods and services averaged $82.1 
billion, while imports of goods and services averaged $118.5 billion, resulting in 
a average trade deficit of $36.3 billion.  For the three months ending in June, the
average trade deficit was $36.8 billion, reflecting average exports of $81.2 billion 
and average imports of $118.0 billion.

Selected Not Seasonally Adjusted Goods Details 

The July figures showed surpluses, in billions of dollars, with Australia $0.8 (for 
June $0.6), Hong Kong $0.1 ($0.4), Egypt $0.1 (deficit of $0.3), and Singapore $0.1 
($0.5).  Deficits were recorded, in billions of dollars, with Western Europe $11.0
($7.1), China $9.3 ($8.5), Japan $5.7 ($5.3), Canada $4.4 ($3.5), Mexico $3.4 ($3.2), 
OPEC $3.1 ($2.9), Korea $1.1 ($0.8), Taiwan $0.9 ($1.1), Brazil $0.4 ($0.3), and 
Argentina $0.2  ($0.1).  

Advanced technology products (ATP) exports were $14.9 billion in July and imports 
were $17.0 billion, resulting in a deficit of $2.1 billion.  July exports were $1.6 
billion less than the $16.5 billion in June, while imports were $0.4 billion more 
than the $16.5 billion in June.

Revisions
     
Goods carry-over in July was $0.2 billion (0.4 percent) for exports and $0.6 billion 
(0.6 percent) for imports.  For June, revised export carry-over was $0.1 billion 
(0.2 percent), revised down from $0.4 billion (0.7 percent).  For June, revised 
import carry-over was $0.1 billion (0.1 percent), revised down from $1.0 billion (1.0 
percent).

Services exports and imports for January through June 2002 were revised to 
incorporate revisions to BEA's quarterly U.S. international transactions accounts, 
which were released September 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.  For services exports, the largest revisions over the 
entire period were in other private services and royalties and license fees.  For 
services imports, the largest revisions over the entire period were in other private 
services, other transportation, and direct defense expenditures. 

Services exports for June were revised up $0.4 billion to $23.9 billion.  The 
revision was mostly accounted for by upward revisions in royalties and license fees, 
other private services, and other transportation. Services imports for June were
revised up $0.2 billion to $20.0 billion.  The revision was more than accounted for 
by upward revisions in direct defense expenditures and other transportation.

         

  
                                 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-02-119), Bureau of the Census, Foreign Trade
        Division, July 2002.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


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