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, May 12, 2004

CB-04-73
BEA-04-20
FT-900 (04-03)

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:      Ralph Stewart     (202) 606-9690

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
March 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 March  exports
of $94.7 billion and imports of $140.7 billion resulted
in a goods and services deficit of $46.0 billion,
compared with $42.1 billion in February, revised. 
March exports were $2.4 billion more than February
exports of $92.3 billion.  March imports were $6.2
billion more than February imports of $134.4 billion.

     In March, the goods deficit increased $3.8 billion from
February to $51.2 billion, and the services surplus
decreased $0.1 billion to $5.3 billion.  Exports of goods
increased $2.3 billion to $67.2 billion, and imports of
goods increased $6.0 billion to $118.4 billion.  Exports of
services increased to $27.5 billion from $27.4 billion, and
imports of services increased to $22.2 billion from $22.0
billion.

     In March, the goods and services deficit was up $3.0
billion from March 2003.  Exports were up $12.1 billion, or
14.6 percent, and imports were up $15.1 billion, or 12.0
percent.

Goods

     The February to March change in exports of goods reflected
increases in industrial supplies and materials ($1.0 billion); 
consumer goods ($0.6 billion); capital goods ($0.5 billion);
automotive vehicles, parts, and engines ($0.2 billion); other
goods ($0.2 billion); and foods, feeds, and beverages ($0.1
billion).
     
     The February to March change in imports of goods
reflected increases in consumer goods ($2.6 billion);
industrial supplies and materials ($1.9 billion); capital
goods ($0.9 billion); automotive vehicles, parts, and engines
($0.6 billion); and foods, feeds, and beverages ($0.1 billion). 
A decrease occurred in other goods ($0.1 billion).

     The March 2003 to March 2004 change in exports of goods
reflected increases in capital goods ($4.1 billion); industrial
supplies and materials ($2.5 billion); consumer goods ($1.3
billion); automotive vehicles, parts, and engines ($0.6 billion);
foods, feeds, and beverages ($0.4 billion); and other goods ($0.1
billion).

     The March 2003 to March 2004 change in imports of goods
reflected increases in capital goods ($3.7 billion); consumer
goods ($3.3 billion); industrial supplies and materials ($3.2
billion); automotive vehicles, parts, and engines ($1.7 billion);
foods, feeds, and beverages ($0.6 billion); and other goods ($0.1
billion).

Services
     
     Services exports increased $0.1 billion from February to
March.  Increases in other transportation (which includes
freight and port services) and other private services (which
includes items such as business, professional, and technical
services, insurance services, and financial services) more than
offset a decrease in travel.  Changes in the other categories of
services exports were small.

     Services imports increased $0.2 billion from February to
March.  An increase in other transportation more than offset a
decrease in travel.  Changes in the other categories of services
imports were small.     
               
     From March 2003 to March 2004, services exports increased
$3.2 billion.  The largest increases were in travel ($1.0 billion)
and other private services ($1.0 billion).  

     From March 2003 to March 2004, services imports increased
$2.4 billion.  The largest increases were in other private services
($0.7 billion), other transportation ($0.6 billion), and travel
($0.6 billion).      


Goods and Services Moving Average 

     For the three months ending in March, exports of goods and
services averaged $91.9 billion, while imports of goods and
services averaged $135.8 billion, resulting in an average trade
deficit of $43.8 billion.  For the three months ending in
February, the average trade deficit was $42.8 billion, reflecting
average exports of $90.4 billion and average imports of $133.2
billion.

Selected Not Seasonally Adjusted Goods Details 
                                   
The March figures showed surpluses, in billions of
dollars, with Singapore $0.8 (for February $0.2), Hong Kong
$0.7 ($0.7), Australia $0.6 ($0.6), and Egypt $0.2 ($0.2). 
Deficits were recorded, in billions of dollars, with China
$10.4 ($8.3), Western Europe $10.1 ($8.1), the European
Union $9.3 ($7.4), Japan $6.7 ($6.1), OPEC $5.6 ($4.7),
Canada $5.1 ($5.1), Mexico $3.9 ($3.6), Korea $1.4 ($0.9),
Taiwan $0.8 ($0.7), and Brazil $0.2 (surplus of $0.1).
                                 
Advanced technology products (ATP) exports were $19.0
billion in March and imports were $20.4 billion, resulting in
a deficit of $1.4 billion.  March exports were $3.0 billion
more than the $16.0 billion in February, while imports were
$3.7 billion more than the $16.7 billion in February.
                                 
Revisions
                                   
Goods carry-over in March was $0.2 billion (0.3 percent)
for exports and $1.1 billion (0.9 percent) for imports.  For
February, revised export carry-over was $0.1 billion (0.2
percent), revised down from $0.3 billion (0.5 percent).  For
February, revised import carry-over was $0.2 billion (0.1
percent), revised down from $1.0 billion (1.0 percent).
                                 
Services exports for February were revised up $0.1
billion to $27.4 billion; the revision was mostly accounted
for by an upward revision in travel.  Services imports for
February were revised down $0.1 billion to $22.0 billion; the
revision was more than accounted for by downward
revisions in travel and passenger fares.                                                          

NOTICE
                                        
While compiling the March 2004 import statistics for energy-related 
petroleum products, found in exhibit 17 of this release, the U.S. 
Census Bureau identified a processing error that caused several 
commodities to be omitted from the energy-related petroleum products 
group.  With this release, the energy-related petroleum products 
group has been revised to include the missing commodities and the 
statistics for January and February 2004 have been revised.  If you
have further questions contact the U.S. Census Bureau, Foreign Trade 
Division  at:  (301) 763-2311 or e-mail Nick Orsini at 
nick.orsini@census.gov. 

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 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