United States Department of COMMERCE NEWS Washington, D.C. 20230 ECONOMICS AND STATISTICS ADMINISTRATION ------------ U.S. Census Bureau Bureau of Economic Analysis CB-03-94 BEA-03-21 FT-900 (03) June 13, 2003 For information on goods contact: Haydn R. Mearkle (301) 763-2246 U.S. Census Bureau Nick Orsini (301) 763-2311 U.S. Census Bureau For information on services contact: Technical: Christopher Bach (202) 606-9545 Bureau of Economic Analysis Media: Larry Moran (202) 606-2649 Bureau of Economic Analysis U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES Annual Revision for 2002 NOTICE In this release and the accompanying "U.S. International Trade in Goods and Services: April 2003," the Census Bureau and the Bureau of Economic Analysis (BEA) are jointly publishing revised data on U.S. trade in goods for 2000-2002 and revised data for services for 1992-2002. Goods The 2002 not seasonally adjusted Census-basis goods data were revised to eliminate monthly data that arrived too late for inclusion in the month of transaction but that were included, initially, in the month in which the data were received. In addition, corrections were made to previously published data. Once the redistributions of data to the proper month of transaction and corrections were completed, factors for seasonal adjustments and trading day adjustments were recomputed, and the seasonally adjusted current-dollar series were revised for 2000-2002. With this release and the "U.S. International Trade in Goods and Services: April 2003" release, the U.S. Census Bureau is replacing its fixed-weighted constant dollar series with a chained-dollar series. We are adopting this methodology to improve the quality of the constant dollar series and for consistency with other official government statistics released by the Department of Commerce. Services The services accounts were revised for 1992-2002. The revisions resulted from the incorporation of results from BEA's annual and quarterly surveys, from BEA's 1999 Benchmark Survey of U.S. Direct Investment Abroad, and from other newly available and updated source data. Revisions from these sources have an impact mostly on receipts and payments for royalties and license fees and other private services for 1999-2002. In addition, a new measure of insurance services, which are a component of other private services, is introduced for 1992-2002. Previously, the estimate of insurance services equaled premiums minus losses. A major shortcoming of this measure was that it fluctuated sharply due to fluctuations in losses, and it could even become negative when losses were exceptionally high. The new measure calculates insurance services as a share of premiums. This amount is equal to premiums minus the portion of premiums attributed to losses; the portion of premiums attributed to losses is based on the relationship between losses and premiums averaged over a period of years. The new measure eliminates the sharp swings present in the old series whenever claims were unusually high or low, and negative estimates of insurance services are now eliminated. The impact on other private services is largest in 2001 and 2002. Table of Contents Seasonally Adjusted Exhibit 1 U.S. International Trade in Goods and Services. . . ..........1 Exhibit 2 U.S. Services by Major Category--Exports. . . . . . ..........2 Exhibit 3 U.S. Services by Major Category--Imports. . . . . . ..........3 Exhibit 4 U.S. Trade in Goods . . . . . . . . . . . . . . . . ..........4 Exhibit 5 Exports of Goods by Principal End-Use Category. . . ..........5 Exhibit 5a Imports of Goods by Principal End-Use Category . . ...........6 Exhibit 6 Exports of Goods by End-Use Category and Commodity ..........7 Exhibit 7 Imports of Goods by End-Use Category and Commodity. ..........9 Exhibit 8 Petroleum and Non-Petroleum End-Use Category Totals......... 11 Exhibit 9 Real Exports of Goods by Principal End-Use Category (2000 Chain-weighted dollars) . . . ................12 Exhibit 9a Real Imports of Goods by Principal End-Use Category (2000 Chain-weighted dollars). . . . . . .......... 13 Exhibit 10 Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Commodity Category Totals (2000 Chain-weighted dollars) ........................14 Not Seasonally Adjusted Exhibit 11 U.S. Trade in Goods. . . . . . . . . . . . . . . ........... 15 Exhibit 12 Exports of Goods by Principal End-Use Category . ........... 16 Exhibit 12a Imports of Goods by Principal End-Use Category. . ...........17 Exhibit 13 Exports, Imports, and Trade Balance by Country and Area, Not Seasonally Adjusted - 2002. . . . . . .................. 18 Exhibit 14 Exports and Imports of Goods by Principal SITC Commodity Groupings - 2002 .................................43 Exhibit 15 Exports, Imports, and Balance of Advanced Technology Products.....................................................51 Exhibit 16 Imports of Energy - Related Petroleum Products, Including Crude Oil . . . . . . . . . . . . .................52 Exhibit 17 Exports and Imports of Motor Vehicles and Parts by Selected Countries - 2002 ...................................53 1992-1999 Data Exhibit 18 U.S. International Trade in Goods and Services . . ..........58 Exhibit 19 U.S. Services by Major Category - Exports. . . . . ..........61 Exhibit 20 U.S. Services by Major Category - Imports . . . . . .........64 SOURCE: Report FT900 (03) (CB-03-93), U.S. Census Bureau, Foreign Trade Division, FINAL 2002. For more information, contact Haydn R. Mearkle (301-763-2246) or Nick Orsini (301-763-2311), Foreign Trade Division.