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,
September 11, 2003                 
                                
CB-03-139
BEA-03-34
FT-900 (03-07)

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 2003

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
$86.1 billion and imports of $126.5 billion resulted in
a goods and services deficit of $40.3 billion, $0.3
billion more than the $40.0 billion in June, revised. 
July exports were $1.7 billion more than June exports
of $84.5 billion.  July imports were $2.0 billion more
than June imports of $124.5 billion

     In July, the goods deficit increased $0.2 billion from
June to $45.3 billion, and the services surplus decreased
$0.1 billion to $5.0 billion.  Exports of goods increased
$1.3 billion to $60.5 billion, and imports of goods
increased $1.5 billion to $105.8 billion.  Exports of
services increased to $25.6 billion from $25.2 billion, and
imports of services increased to $20.7 billion from $20.2
billion.

     In July, the goods and services deficit was up $6.3
billion from July 2002.  Exports were up $3.2 billion, or
3.9 percent, and imports were up $9.4 billion, or 8.1
percent.

Goods

     The June to July change in exports of goods reflected
increases in capital goods ($0.6 billion); industrial
supplies and materials ($0.4 billion); automotive vehicles,
parts, and engines ($0.3 billion); and foods, feeds, and
beverages ($0.2 billion).  Decreases occurred in consumer
goods ($0.1 billion) and other goods ($0.1 billion).

     The June to July change in imports of goods reflected
increases in industrial supplies and materials ($1.0
billion); consumer goods ($0.7 billion); and foods, feeds,
and beverages ($0.1 billion).  A decrease occurred in
automotive vehicles, parts, and engines ($0.1 billion). 
Capital goods and  other goods were virtually unchanged.
                                     
     The July 2002 to July 2003 change in exports of
goods reflected increases in industrial supplies and
materials ($1.6 billion); consumer goods ($0.4 billion);
and foods, feeds, and beverages ($0.3 billion).  Decreases
occurred in capital goods ($0.4 billion) and automotive
vehicles, parts, and engines ($0.1 billion).  Other goods
were virtually unchanged.

     The July 2002 to July 2003 change in imports of goods
reflected increases in industrial supplies and materials
($4.3 billion); consumer goods ($1.7 billion); automotive
vehicles, parts, and engines ($0.9 billion); capital goods
($0.6 billion);  foods, feeds, and beverages ($0.4 billion);
and other goods ($0.1 billion).
     
Services
     
     Services exports increased $0.4 billion from June to
July.  The increase was accounted for by increases in
travel, other private services (which includes items such
as business, professional, and technical services,
insurance services, and financial services), and passenger
fares.  Changes in the other categories of services exports
were small.

     Services imports increased $0.5 billion from June to
July.  The increase was mostly accounted for by increases
in travel, other transportation (which includes freight and
port services), passenger fares, and other private services. 
Changes in the other categories of services imports were
small. 

     From July 2002 to July 2003, services exports
increased $1.3 billion.  The largest increases were in other
private services ($0.8 billion) and other transportation
($0.2 billion).  

     From July 2002 to July 2003, services imports
increased $1.6 billion.  The largest increases were in other
private services ($0.6 billion), other transportation ($0.5
billion), and direct defense expenditures ($0.3 billion). 

Goods and Services Moving Average 

     For the three months ending in July, exports of goods
and services averaged $84.4 billion, while imports of
goods and services averaged $125.0 billion, resulting in
an average trade deficit of $40.7 billion.  For the three
months ending in June, the average trade deficit was
$41.2 billion, reflecting average exports of $82.7 billion
and average imports of $123.9 billion.
                                                                   
Selected Not Seasonally Adjusted Goods Details 

     The July figures showed surpluses, in billions of
dollars, with Australia $0.8 (for July $0.8), Singapore
$0.4 (virtually zero), Hong Kong $0.2 ($0.4), and Egypt
$0.1 ($0.1).  Deficits were recorded, in billions of dollars,
with China $11.3 ($10.0), Western Europe $11.2 ($8.0),
Japan $5.9 ($5.4), Canada $5.0 ($3.7), OPEC $4.5 ($4.0),
Mexico $3.2 ($3.4), Korea $1.3 ($1.0), Taiwan $1.1
($1.1), and Brazil $0.7 ($0.6).

     Advanced technology products (ATP) exports were
$14.6 billion in July and imports were $17.6 billion,
resulting in a deficit of $3.0 billion.  July exports were
$0.7 billion less than the $15.3 billion in June, while
imports were $0.5 billion more than the $17.1 billion in
June.

Revisions
     
     Goods carry-over in July was $0.3 billion (0.6 percent)
for exports and $1.3 billion (1.2 percent) for imports.  For
June, revised export carry-over was virtually zero, revised
down from $0.3 billion (0.5 percent).  For June, revised
import carry-over was $0.1 billion (0.1 percent), revised
down from $0.9 billion (0.9 percent)

     Services exports and imports for January through June
2003 reflect the incorporation of more comprehensive and
revised quarterly and monthly data.  For services exports,
the largest revisions over the entire period were in travel
and transfers under U.S. military sales contracts.  For
services imports, the largest revisions over the entire
period were in royalties and license fees, other
transportation, and other private services.

     Services exports for June were revised down $0.4
billion to $25.2 billion; the revision was accounted for by
downward revisions in travel, passenger fares, and
transfers under U.S. military sales contracts.  Services
imports for June were virtually unrevised at $20.2 billion.


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-03-139, BEA-03-34), Bureau of the Census, Foreign 
Trade Division, July 2003.  For more information, contact Haydn R. 
Mearkle (301-763-2246) or Nick Orsini (301-763-2311), Foreign 
Trade Division. 