                            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. Friday,
October 18, 2002                                 
                                
CB-02-132 Press Copy 
FT-900 (02-08)

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
                                      August 2002


Goods and Services

The U.S. Census Bureau and the Bureau of Economic Analysis, through the 
Department of Commerce, announced today that total August exports of 
$81.9 billion and imports of $120.3 billion resulted in a goods and services 
deficit of $38.5 billion, $3.4 billion more than the $35.1 billion in July, 
revised.  August exports were $1.1 billion less than July exports of $82.9 
billion.  August imports were $2.3 billion more than July imports of $118.0 
billion.

In August, the goods deficit increased $3.2 billion from July to $42.3 billion, 
and the services surplus decreased $0.2 billion to $3.8 billion.  Exports of
goods decreased to $58.0 billion from $59.1 billion, and imports of goods 
increased to $100.3 billion from $98.1 billion.  Exports of services increased 
to $23.9 billion from $23.8 billion, and imports of services increased to $20.1 
billion from $19.8 billion.

Goods
     
The July to August change in exports of goods reflected decreases in capital 
goods ($0.4 billion); foods, feeds, and beverages ($0.3 billion); automotive
vehicles, parts, and engines ($0.3 billion); and consumer goods ($0.1 billion). 
An increase occurred in industrial supplies and materials ($0.1 billion).  Other 
goods were virtually unchanged.

The July to August change in imports of goods reflected increases in consumer 
goods ($1.1 billion); industrial supplies and materials ($1.1 billion); automotive 
vehicles, parts, and engines ($0.2 billion); and other goods ($0.1 billion).  A
decrease occurred in capital goods ($0.3 billion).  Foods, feeds, and beverages 
were virtually unchanged.       
          
Services
     
Services exports increased $0.1 billion from July to August.  Small increases in 
travel, passenger fares, and other transportation were partly offset by small
decreases in other private services (which includes items such as business, 
professional, and technical services; insurance services; and financial services) 
and royalties and license fees.

Services imports increased $0.2 billion from July to August.  Small increases 
occurred in nearly all categories but were largest in direct defense expenditures, 
other private services, and passenger fares.  

Goods and Services Moving Average 

For the three months ending in August, exports of goods and services averaged 
$82.3 billion, while imports of goods and services averaged $119.1 billion, 
resulting in a average trade deficit of $36.8 billion.  For the three months ending 
in July, the average trade deficit was $36.5 billion, reflecting average exports of 
$82.0 billion and average imports of $118.5 billion.

Selected Not Seasonally Adjusted Goods Details 

The August figures showed surpluses,in billions of dollars, with Australia $0.5 
(for July $0.8), Egypt $0.3 ($0.1), Hong Kong $0.2 ($0.1), and Singapore $0.2 ($0.1).  
Deficits were recorded, in billions of dollars, with China $10.9 ($9.3), Western 
Europe $7.0 ($11.0), Japan $5.3 ($5.7), Canada $4.2 ($4.4), OPEC $3.7 ($3.1), Mexico
$3.5 ($3.4), Taiwan $1.3 ($0.9), Korea $1.0 ($1.1), Brazil $0.4 ($0.4), and Argentina 
$0.1 ($0.2).   

Advanced technology products (ATP) exports were $15.1 billion in August and imports 
were $16.3 billion, resulting in a deficit of $1.2 billion.  August exports were $0.2 
billion more than the $14.9 billion in July, while imports were $0.7 billion less 
than the $17.0 billion in July.

Revisions
     
Goods carry-over in August was $0.2 billion (0.3 percent) for exports and $0.8 billion 
(0.8 percent) for imports.  For July, revised export carry-over was $0.1 billion 
(0.2 percent), revised down from $0.2 billion (0.4 percent).  For July, revised 
import carry-over was $0.1 billion (0.1 percent), revised down from $0.6 billion 
(0.6 percent).

Services exports for July were revised down $0.3 billion to $23.8 billion.  The 
revision was mostly accounted for by downward revisions in travel and passenger 
fares.  Services imports for July were virtually unrevised at $19.8 billion.
                                                                                                                                                                                                                 
                                                              
                                                                

     Scheduled release dates in 2003 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-02-132), Bureau of the Census, Foreign Trade
        Division, August 2002.  For more information, contact Haydn R. 
        Mearkle (301-457-2246) or Nick Orsini (301-457-2311), Foreign 
        Trade Division.           


                         
                                 


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