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, April 14, 2004
CB-04-59
BEA-04-15
FT-900 (04-02)

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
February 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 February 
exports of $92.4 billion and imports of $134.5 billion
resulted in a goods and services deficit of $42.1 billion,
$1.4 billion less than the $43.5 billion in January,
revised.  February exports were $3.5 billion more than
January exports of $88.8 billion.  February imports
were $2.2 billion more than January imports of $132.3
billion.

     In February, the goods deficit decreased $1.3 billion
from January to $47.2 billion, and the services surplus
increased $0.1 billion to $5.2 billion.  Exports of goods
increased $3.2 billion to $65.1 billion, and imports of
goods increased $1.9 billion to $112.3 billion.  Exports of
services increased to $27.3 billion from $26.9 billion, and
imports of services increased to $22.2 billion from $21.9
billion.

     In February, the goods and services deficit was up $3.5
billion from February 2003.  Exports were up $9.7 billion,
or 11.7 percent, and imports were up $13.2 billion, or 10.9
percent.

Goods

     The January to February change in exports of goods
reflected increases in capital goods ($1.5 billion); industrial 
supplies and materials ($0.7 billion); consumer goods ($0.3
billion); automotive vehicles, parts, and engines ($0.3
billion); other goods ($0.2 billion); and foods, feeds, and
beverages ($0.1 billion).  
     
     The January to February change in imports of goods
reflected increases in industrial supplies and materials ($2.0
billion); automotive vehicles, parts, and engines ($0.7
billion); other goods ($0.3 billion); and foods, feeds, and
beverages ($0.2 billion).  Decreases occurred in capital
goods ($0.8 billion) and consumer goods ($0.6 billion). 

The February 2003 to February 2004 change in exports of
goods reflected increases in capital goods ($3.2 billion);
industrial supplies and materials ($1.9 billion); consumer goods
($1.1 billion); automotive vehicles, parts, and engines ($0.4
billion); foods, feeds, and beverages ($0.3 billion); and other
goods ($0.3 billion).

     The February 2003 to February 2004 change in imports of
goods reflected increases in industrial supplies and materials
($3.6 billion); capital goods ($2.9 billion); consumer goods
($1.8 billion); automotive vehicles, parts, and engines ($1.6
billion); foods, feeds, and beverages ($0.7 billion); and other
goods ($0.2 billion).

Services
     
     Services exports increased $0.4 billion from January to
February.  The increase was mostly 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 other transportation
(which includes freight and port services).  Changes in the other
categories of services exports were small.

     Services imports increased $0.3 billion from January to
February.  The increase was mostly accounted for by increases
in travel, other private services, other transportation, and direct
defense expenditures.  Changes in the other categories of 
services imports were small.
          
     From February 2003 to February 2004, services exports
increased $2.5 billion.  The largest increases were in other
private services ($1.1 billion) and travel ($0.5 billion).  

     From February 2003 to February 2004, services imports
increased $2.4 billion.  The largest increases were in other
private services ($0.7 billion), other transportation ($0.7
billion), and travel ($0.5 billion). 


Goods and Services Moving Average 

     For the three months ending in February, exports of goods
and services averaged $90.4 billion, while imports of goods and
services averaged $133.2 billion, resulting in an average trade
deficit of $42.7 billion.  For the three months ending in January,
the average trade deficit was $41.5 billion, reflecting average
exports of $89.9 billion and average imports of $131.3 billion. 

Selected Not Seasonally Adjusted Goods Details 

     The February figures showed surpluses, in billions of
dollars, with Hong Kong $0.7 (for January $0.3), Australia
$0.6 ($0.4), Singapore $0.2 ($0.1), Egypt $0.2 ($0.2), and
Brazil $0.1 (deficit of $0.4).  Deficits were recorded, in
billions of dollars, with China $8.3 ($11.5), Western Europe
$8.1 ($6.6), the European Union $7.4 ($5.9), Japan $6.1
($5.3), Canada $5.0 ($5.3), OPEC $4.7 ($4.7), Mexico $3.6
($3.0), Korea $0.9 ($1.5), and Taiwan $0.7 ($1.1).

     Advanced technology products (ATP) exports were $16.0
billion in February and imports were $16.7 billion, resulting
in a deficit of $0.7 billion.  February exports were $1.3
billion more than the $14.7 billion in January, while imports
were virtually the same as in January.

Revisions
     
     Goods carry-over in February was $0.3 billion (0.5
percent) for exports and $1.0 billion (1.0 percent) for
imports.  For January, revised export carry-over was $0.2
billion (0.3 percent), revised down from $0.3 billion (0.6
percent).  For January, revised import carry-over was $0.2
billion (0.2 percent), revised down from $0.9 billion (0.9
percent).

     Services exports for January were revised down $0.2
billion to $26.9 billion; the revision was more than
accounted for by downward revisions in travel and
passenger fares.  Services imports for January  were revised
up $0.1 billion to $21.9 billion; the revision was mostly
accounted for by upward revisions in travel and passenger
fares.

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 (2000 Chain-weighted dollars) . . . . . . 15

Exhibit 11  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 Groupings . . . . . . . . . . . . . 21

Exhibit 16  Exports, Imports, and Balance of Advanced Technology 
		   Products . . . . . . . . . . . . . . . . . . .23

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

Exhibit 18  Exports and Imports of Motor Vehicles and Parts By 
	      Selected Countries . . . . . . . . . . . . . . . . 25

Information on Goods and Services. . . . . . . . . . . . . . . . 26
 
SOURCE: Report FT900 (CB-04-59, BEA-04-15), Bureau of the Census, Foreign 
Trade Division, February 2004.  For more information, contact Haydn R. 
Mearkle (301-763-2246) or Nick Orsini (301-763-2311), Foreign 
Trade Division. 