United States Department of
COMMERCE
NEWS  Washington, D.C. 20230             
ECONOMICS AND STATISTICS ADMINISTRATION
 ------------
U.S. Census Bureau
U.S. Bureau of Economic Analysis
                                
This release contains sensitive economic
data not to be released before 8:30 a.m. Wednesday,
March 10, 2004

CB-04-38
BEA-04-10
FT-900 (04-01)

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:
U.S. Bureau of Economic Analysis:
Technical:  Christopher Bach  (202) 606-9545
Media:      Larry Moran       (202) 606-2649
                             
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
January 2004
           
Goods and Services

     The U.S. Census Bureau and the U.S. Bureau of
Economic Analysis, through the Department of
Commerce, announced today that total January  exports
of $89.0 billion and imports of $132.1 billion resulted
in a goods and services deficit of $43.1 billion, $0.4
billion more than the $42.7 billion in December,
revised.  January exports were $1.1 billion less than
December exports of $90.1 billion.  January imports
were $0.7 billion less than December imports of $132.8
billion.

     In January, the goods deficit increased $0.5 billion from
December to $48.4 billion, and the services surplus increased
$0.1 billion to $5.3 billion.  Exports of goods decreased $1.1
billion to $61.9 billion, and imports of goods decreased $0.6
billion to $110.3 billion.  Exports of services were virtually
unchanged at $27.1 billion, and imports of services decreased
to $21.8 billion, from $21.9 billion.

     In January, the goods and services deficit was up $3.1
billion from January 2003.  Exports were up $7.0 billion, or
8.5 percent, and imports were up $10.0 billion, or 8.2 percent.

Goods

     The December to January change in exports of goods
reflected decreases in foods, feeds, and beverages 
($0.4 billion); capital goods ($0.2 billion); consumer goods
($0.2 billion); automotive vehicles, parts, and engines ($0.2
billion); and industrial supplies and materials ($0.1 billion). 
An increase occurred in other goods ($0.1 billion).
     
     The December to January change in imports of goods
reflected decreases in automotive vehicles, parts, and
engines ($1.0 billion); other goods ($0.1 billion); foods,
feeds, and beverages ($0.1 billion); and capital goods ($0.1
billion).  An increase occurred in industrial supplies and
materials ($0.7 billion).  Consumer goods were virtually
unchanged.     The January 2003 to January 2004 change in exports of
goods reflected increases in capital goods ($2.9 billion);
industrial supplies and materials ($1.1 billion); consumer goods
($0.4 billion); other goods ($0.3 billion); automotive vehicles,
parts, and engines ($0.1 billion); and foods, feeds, and
beverages ($0.1 billion).

     The January 2003 to January 2004 change in imports of
goods reflected increases in industrial supplies and materials
($2.4 billion); capital goods ($2.4 billion); consumer goods
($2.4 billion); automotive vehicles, parts, and engines ($0.8
billion); and foods, feeds, and beverages ($0.3 billion).  Other
goods were virtually unchanged.

Services
     
     Services exports were unchanged from December to January. 
A decrease in travel and passenger fares was offset by an
increase 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 decreased $0.1 billion from December to
January.  Decreases in travel and passenger fares more than
offset small increases in nearly all other categories of services
imports. 

     From January 2003 to January 2004, services exports
increased $2.2 billion.  The largest increases were in other
private services ($1.0 billion), travel ($0.4 billion), and royalties
and license fees ($0.3 billion).  

     From January 2003 to January 2004, services imports
increased $1.7 billion.  The largest increases were in other
private services ($0.7 billion) and other transportation ($0.5
billion), which includes freight and port services. 
     
Goods and Services Moving Average 

     For the three months ending in January, exports of goods and
services averaged $89.9 billion, while imports of goods and
services averaged $131.2 billion, resulting in an average trade
deficit of $41.3 billion.  For the three months ending in
December, the average trade deficit was $40.9 billion, reflecting
average exports of $89.7 billion and average imports of $130.5
billion. 

Selected Not Seasonally Adjusted Goods Details 

     The January figures showed surpluses, in billions of dollars,
with Australia $0.4 (for December $0.5), Hong Kong $0.3
($0.7), Egypt $0.2 ($0.1), and Singapore $0.1 (virtually
zero).  Deficits were recorded, in billions of dollars, with
China $11.5 ($9.9), Western Europe $6.6 ($11.1), The
European Union $5.9 ($10.3), Japan $5.3 ($5.7), Canada
$5.2 ($4.4), OPEC $4.7 ($4.6), Mexico $3.0 ($3.1), Korea
$1.5 ($1.4), Taiwan $1.1 ($0.8), and Brazil $0.4 ($0.5).

     Advanced technology products (ATP) exports were $14.7
billion in January and imports were $16.7 billion, resulting
in a deficit of $2.0 billion.  January exports were $2.0 billion
less than the $16.7 billion in December, while imports were
$3.4 billion less than the $20.1 billion in December.

Revisions
     
     Goods carry-over in January was $0.3 billion (0.6
percent) for exports and $0.9 billion (0.9 percent) for
imports.  For December, revised export carry-over was 
$0.2 billion (0.3 percent), revised down from $0.4 billion
(0.6 percent).  For December, revised import carry-over
was $0.3 billion (0.3 percent), revised down from $1.3
billion (1.2 percent).

     Goods and services exports and imports for all months
in 2003 were revised in order to align the seasonally
adjusted monthly estimates with the annual totals.
     
     Services exports and imports for July through December
2003 reflect the incorporation of more comprehensive and
revised quarterly and monthly data.  For services exports, the
largest revision over the entire period was in other private
services.  For services imports, the largest revisions over the
entire period were in other private services, travel, and
royalties and license fees.

     Services exports for December were revised down $0.3
billion to $27.1 billion; the revision was more than accounted
for by a downward revision in travel.  Services imports for
December were revised up $0.2 billion to $21.9 billion; the
revision was more than accounted for by upward revisions in
other private services, other transportation, and royalties
and license fees.

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