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. Thursday, 
February 20, 2003                                
                                
CB-03-29     Press Copy 
FT-900 (02-12)

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
December 2002

Goods and Services

     The U.S. Census Bureau and the Bureau of
Economic Analysis, through the Department of
Commerce, announced today that total
December  exports of $81.2 billion and imports
of $125.4 billion resulted in a goods and
services deficit of $44.2 billion, $4.2 billion
more than the $40.0 billion in November,
revised.  December exports were $2.1 billion
less than November exports of $83.3 billion. 
December imports were $2.1 billion more than
November imports of $123.3 billion.  

     In December, the goods deficit increased $4.1
billion from November to $48.4 billion, and the
services surplus decreased $0.1 billion to $4.1 billion. 
Exports of goods decreased $2.3 billion to $55.6
billion, and imports of goods increased $1.8 billion to
$103.9 billion.  Exports of services increased to $25.6
billion from $25.5 billion, and imports of services
increased to $21.5 billion from $21.2 billion.

Goods
     
     The November to December change in exports of
goods reflected decreases in capital goods ($2.2 
billion); consumer goods ($0.3 billion); and other
goods ($0.1 billion).  Increases occurred in industrial
supplies and materials ($0.1 billion); foods, feeds, and
beverages ($0.1 billion); and automotive vehicles,
parts, and engines ($0.1 billion).
     
The November to December change in imports of
goods reflected increases in industrial supplies and
materials ($0.7 billion); capital goods ($0.3 billion);
other goods ($0.3 billion); automotive vehicles, parts,
and engines ($0.3 billion); foods, feeds, and beverages
($0.2 billion); and consumer goods ($0.1 billion).

Services
     
     Services exports increased $0.1 billion from
November to December.  Increases in travel and
passenger fares were partly offset by a decrease in
other private services (which includes items such as
business, professional, and technical services, insurance
services, and financial services).  Changes in the other
categories of services exports were small.   

     Services imports increased $0.3 billion from
November to December.  The increase was mostly
accounted for by increases in travel and other
transportation (which includes freight and port
expenditure services).  Changes in the other categories
of services imports were small.


Goods and Services Moving Average 

     For the three months ending in December, exports
of goods and services averaged $82.2 billion, while
imports of goods and services averaged $122.1
billion, resulting in an average trade deficit of $39.8
billion.  For the three months ending in November,
the average trade deficit was $37.5 billion, reflecting
average exports of $82.7 billion and average imports
of $120.2 billion.


Selected Not Seasonally Adjusted Goods Details 

     The December figures showed surpluses, in billions
of dollars, with Australia $0.7 (for November $0.5),
Hong Kong $0.3 ($0.3), and Egypt $0.2 (virtually
zero).  Deficits were recorded, in billion of dollars,
with Western Europe $9.6 ($7.9), China $9.5 ($10.5),
Japan $7.1 ($6.5), Canada $4.6 ($3.7), OPEC $3.2
($2.9), Mexico $2.8 ($2.9), Taiwan $1.3 ($1.3), Korea
$1.1 ($1.6), Brazil $0.6 ($0.2), Singapore $0.2 ($0.1),
and Argentina $0.2 ($0.2).

     Advanced technology products (ATP) exports
were $14.2 billion in December and imports were
$17.3 billion, resulting in a deficit of $3.0 billion. 
December exports were $0.4 billion less than the
$14.7 billion in November, while imports were $0.5
billion less than the $17.7 billion in November.


Revisions
     
     Goods carry-over in December was $0.6 billion (1.1
percent) for exports and $1.1 billion (1.1 percent) for
imports.  For November, revised export carry-over was
$0.1 billion (0.2 percent), revised down from $0.6
billion (1.0 percent).  For November, revised import
carry-over was $0.4 billion (0.4 percent), revised down
from $1.2 billion (1.2 percent).

     The seasonally adjusted goods data for January
through November were also revised to align the
seasonally adjusted months with the annual totals.

     Services exports for November were revised up
$0.2 billion to $25.5 billion; the revision was
accounted for by upward revisions in travel and
passenger fares.  Services imports for November were
revised up $0.2 billion to $21.2 billion; the revision
was more than accounted for by upward revisions in
travel and passenger fares.
                                 
Scheduled release dates through February 2004 are located on page 30


Annual Summary for 2002
                                 
                                 
Goods and Services
                                 
     For 2002, exports of $973.0 billion and imports of
$1,408.2 billion resulted in a goods and services
deficit of $435.2 billion, $76.9 billion more than the
2001 deficit of $358.3 billion.  For goods, exports
were $682.6 billion and imports were $1,166.9
billion, resulting in a goods deficit of $484.4 billion,
$57.2 billion more than the 2001 deficit of $427.2
billion.  For services, exports were $290.4 billion
and imports were $241.3 billion, resulting in a
services surplus of $49.1 billion, $19.7 billion less
than the 2001 surplus of $68.9 billion.


Goods (Census Basis)

     For 2002, exports of goods were down $35.6
billion from 2001.  Decreases occurred in capital
goods of $31.1 billion (primarily computer
accessories, telecommunications equipment, and
semiconductors); consumer goods ($3.9 billion);
industrial supplies and materials ($3.2 billion); and
other goods ($0.6 billion).  Increases occurred in
automotive vehicles, parts, and engines ($3.0 billion)
and foods, feeds, and beverages ($0.1 billion).

     For 2002, imports of goods were up $22.6
billion from 2001.  Increases occurred in
consumer goods of $23.4 billion (primarily
pharmaceutical preparations, other household
goods, TV's and VCR's, furniture, and cotton
apparel); automotive vehicles, parts, and engines
($14.1 billion); foods, feeds, and beverages ($3.1
billion); and other goods ($0.9 billion).  Decreases
occurred in capital goods ($14.1 billion) and
industrial supplies and materials ($4.8 billion).
     

Services

     For 2002, exports of services were $290.4
billion, up $11.1 billion from 2001.  Increases
occurred in other private services ($10.0 billion),
which includes items such as business,
professional, and technical services, insurance
services, and financial services, and in royalties
and license fees ($4.5 billion).  
Decreases occurred in travel ($2.5 billion);
passenger fares ($0.6 billion); and transfers under
U.S. military sales contracts ($0.2 billion).  U.S.
Government miscellaneous services and other
transportation, which includes freight and port
expenditure services, were virtually unchanged.  

     For 2002, imports of services were $241.3
billion, up $30.9 billion from 2001.  Increases
occurred in other private services ($24.8 billion);
direct defense expenditures ($4.2 billion); and
royalties and license fees ($4.0 billion).  A
significant portion of the increase in imports of
other private services was accounted for by
insurance services, which dropped sharply in 2001
as a consequence of large nonrecurring insurance
claims received following the terrorist attacks of
September 11, 2001 (consistent with standard BEA
methodology, imports of insurance services are
calculated as premiums paid to foreigners for
primary insurance and reinsurance, less claims
received). Decreases occurred in passenger fares
($1.4 billion); travel ($0.6 billion); and other
transportation ($0.2 billion).  U.S. Government
miscellaneous services were virtually unchanged. 

     For detailed descriptions of the types of
transactions included in each of the services
categories, see "Information on Goods and
Services" starting on page 26 of this release.



Table of Contents


Seasonally Adjusted

Exhibit 1   International Trade in Goods and Services. . . . . . . .4

Exhibit 2   Goods and Services Centered Three - Month Moving Averages5

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 Category9

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 Category18


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 Groupings21

Exhibit 16  Exports, Imports, and Balance of Advanced Technology Products23

Exhibit 17  Imports of Energy - Related Petroleum Products, 
              Including Crude Petroleum. . . . . . . . . . . . . 24

Exhibit 18  Exports and Imports of Motor Vehicles and Parts By Selected               Countries25

Information on Goods and Services. . . . . . . . . . . . . . . . 26