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, July 11, 2003

CB-03-107    
BEA-03-27
FT-900 (03-05)

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
May 2003

Goods and Services

     The U.S. Census Bureau and the Bureau of
Economic Analysis, through the Department of
Commerce, announced today that total May exports of
$82.1 billion and imports of $123.9 billion resulted in
a goods and services deficit of $41.8 billion, $0.2
billion more than the $41.6 billion in April, revised. 
May exports were $0.7 billion more than April exports
of $81.3 billion.  May imports were $0.9 billion more
than April imports of $123.0 billion.

     In May, the goods deficit increased $0.4 billion from
April to $46.8 billion, and the services surplus increased
$0.2 billion to $4.9 billion.  Exports of goods increased
$0.4 billion to $57.6 billion, and imports of goods
increased $0.8 billion to $104.4 billion.  Exports of
services  increased to $24.5 billion from $24.1 billion, and
imports of services increased to $19.5 billion from $19.4
billion.

     In May, the goods and services deficit was up $6.7
billion from May 2002.  Exports were up $1.0 billion, or
1.2 percent, and imports were up $7.7 billion, or 6.7
percent.

Goods

     The April to May change in exports of goods reflected
increases in capital goods ($0.3 billion); automotive 
vehicles, parts, and engines ($0.1 billion); and industrial
supplies and materials ($0.1 billion).  A decrease
occurred in other goods ($0.3 billion).  Consumer goods
and  foods, feeds, and beverages were virtually
unchanged.

     The April to May change in imports of goods reflected
increases in automotive vehicles, parts, and engines ($0.8
billion) and capital goods ($0.4 billion).  Decreases
occurred in industrial supplies and materials ($0.4
billion); other goods ($0.1 billion); and foods, feeds, and
beverages ($0.1 billion).  Consumer goods were virtually
unchanged.
                                 
     The May 2002 to May 2003 change in exports of
goods reflected increases in industrial supplies and
materials ($1.0 billion);  foods, feeds, and beverages
($0.3 billion); and consumer goods ($0.3 billion). 
Decreases occurred in capital goods ($0.9 billion) and
other goods ($0.3 billion).  Automotive vehicles, parts,
and engines were virtually unchanged.

     The May 2002 to May 2003 change in imports of
goods reflected increases in industrial supplies and
materials ($2.8 billion); consumer goods ($2.2 billion);
capital goods ($0.7 billion); automotive vehicles, parts,
and engines ($0.6 billion); and foods, feeds, and
beverages ($0.5 billion).  A decrease occurred in other
goods ($0.2 billion).

     
Services
     
     Services exports increased $0.4 billion from April to
May.  Increases in travel and passenger fares were partly
offset by a decrease in other transportation (which
includes freight and port services).  Changes in the other
categories of services exports were small.

     Services imports increased $0.1 billion from April to
May.  Increases in travel and passenger fares were partly
offset by decreases in direct defense expenditures and
other transportation.  Changes in the other categories of
services imports were small. 

     From May 2002 to May 2003, services exports
increased $0.3 billion.  The largest increases were in other
private services ($0.5 billion), which includes items such
as business, professional, and technical services, insurance
services, and financial services; transfers under U.S.
military sales contracts ($0.2 billion); and royalties and
license fees ($0.2 billion).  The largest decreases were in
travel ($0.5 billion) and passenger fares ($0.3 billion).

     From May 2002 to May 2003, services imports
increased $1.1 billion.  The largest increases were in other
private services ($0.7 billion), direct defense expenditures
($0.4 billion), and other transportation ($0.4 billion). 
The largest decrease was in travel ($0.5 billion).


Goods and Services Moving Average 

     For the three months ending in May, exports of goods
and services averaged $82.1 billion, while imports of
goods and services averaged $124.2 billion, resulting in
an average trade deficit of $42.1 billion.  For the three
months ending in April, the average trade deficit was
$41.0 billion, reflecting average exports of $82.4 billion
and average imports of $123.4 billion.

     


Selected Not Seasonally Adjusted Goods Details 

	The May figures showed surpluses, in billions of
dollars, with Australia $0.5 (for April $0.4), Hong Kong
$0.4 ($0.4), and Egypt $0.1 ($0.1).  Deficits were
recorded, in billions of dollars, with China $9.9 ($9.5),
Western Europe $8.3 ($8.4), Japan $4.5 ($6.0), OPEC
$4.4 ($5.0), Canada $4.1 ($3.8), Mexico $3.4 ($3.3),
Taiwan $1.4 ($1.4), Korea $0.9 ($1.1), Brazil $0.5 ($0.6),
and Argentina $0.1 ($0.1).

     Advanced technology products (ATP) exports were
$14.1 billion in May and imports were $15.9 billion,
resulting in a deficit of $1.8 billion.  May exports were
$0.2 billion more than the $13.9 billion in April, while
imports were $0.5 billion less than the $16.4 billion in
April.

Revisions
     
     Goods carry-over in May was $0.5 billion (0.8
percent) for exports and $0.9 billion (0.9 percent) for
imports.  For April, revised export carry-over was $0.2
billion (0.3 percent),  revised down from $0.4 billion (0.7
percent).  For April, revised import carry-over was $0.1
billion (0.1 percent), revised down from $1.0 billion (1.0
percent).

     Services exports for April were revised up $0.3 billion
to $24.1 billion; the revision was mostly accounted for by
upward revisions in travel, passenger fares, and other
transportation.  Services imports for April were revised
up $0.2 billion to $19.4 billion; the revision was more
than accounted for by an upward revision in travel.
                         
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 Real Exports and Imports of Goods by Principal End-Use
             Category (2000 Chain-weighted dollars). . . . . . . 15

Exhibit 11 Real Exports, Imports, and Balance of Goods, Petroleum and Non-
             Petroleum End-Use Commodity Category Totals (2000 Chain-weighted 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 Oil . . . . . . . . . . . . . . . . 24

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

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

 
SOURCE: Report FT900 (CB-03-107, BEA-03-27), Bureau of the Census, Foreign 
Trade Division, May 2003.  For more information, contact Haydn R. 
Mearkle (301-763-2246) or Nick Orsini (301-763-2311), Foreign 
Trade Division. 