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. Tuesday,
July 13, 2004

CB-04-113
BEA-04-35
FT-900 (04-05)

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:
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
May 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 May  exports of $97.1 billion and imports of
$143.1 billion resulted in a goods and services deficit of
$46.0 billion, $2.1 billion less than the $48.1 billion in April,
revised.  May exports were $2.7 billion more than April exports
of $94.4 billion.  May imports were $0.6 billion more than April
imports of $142.5 billion.

     In May, the goods deficit decreased $2.2 billion from
April to $50.8 billion, and the services surplus was virtually
unchanged at $4.9 billion.  Exports of goods increased $2.8
billion to $68.7 billion, and imports of goods increased $0.6
billion to $119.5 billion.  Exports of services decreased $0.1
billion to $28.4 billion, and imports of services were
virtually unchanged at $23.6 billion.
                                                                  
     In May, the goods and services deficit was up $5.1
billion from May 2003.  Exports were up $14.6 billion, or 17.6
percent, and imports were up $19.7 billion, or 15.9 percent.

Goods

     The April to May change in exports of goods reflected
increases in capital goods ($1.7 billion); industrial
supplies 
and materials ($1.0 billion);  foods, feeds, and beverages 
($0.1 billion); and automotive vehicles, parts, and engines
($0.1 billion).  A decrease occurred in other goods ($0.1
billion).  Consumer goods were virtually unchanged.
     
     The April to May change in imports of goods reflected
increases in industrial supplies and materials ($0.9
billion); automotive vehicles, parts, and engines ($0.5
billion); foods, feeds, and beverages ($0.1 billion); and
capital goods ($0.1 billion).  Decreases occurred in
consumer goods ($0.9 billion) and other goods ($0.1
billion).The May 2003 to May 2004 change in exports of goods
reflected increases in capital goods ($5.2 billion);
industrial supplies and materials ($3.2 billion); consumer
goods ($1.3 billion); foods, feeds, and beverages ($0.4
billion); automotive vehicles, parts, and engines ($0.4
billion); and other goods ($0.4 billion).

     The May 2003 to May 2004 change in imports of
goods reflected increases in industrial supplies and
materials ($7.5 billion); capital goods ($3.5 billion);
consumer goods ($3.0 billion); automotive vehicles, parts,
and engines ($1.8 billion); foods, feeds, and beverages
($0.6 billion); and other goods ($0.3 billion).

Services
     
     Services exports decreased $0.1 billion from April to
May.  Decreases in travel and  passenger fares were
partly offset by increases in other private services (which
includes items such as business, professional, and
technical services, insurance services, and financial
services) and royalties and license fees.  Changes in the
other categories of services exports were small.

     Services imports were virtually unchanged from April
to May.  Decreases in other transportation  (which
includes freight and port services) and direct defense
expenditures were nearly offset by an increase in other
private services.  Changes in the other categories of
services imports were small.
               
     From May 2003 to May 2004, services exports
increased $3.7 billion.  The largest increases were in travel
($1.3 billion), other private services ($0.9 billion), and
other transportation ($0.6 billion).  

     From May 2003 to May 2004, services imports
increased $3.1 billion.  The largest increases were in travel
($1.0 billion), other private services ($0.7 billion), and
other transportation ($0.7 billion). 

Goods and Services Moving Average 
    
For the three months ending in May, exports of goods
and services averaged $95.7 billion, while imports of
goods and services averaged $142.5 billion, resulting in an
average trade deficit of $46.9 billion.  For the three months
ending in April, the average trade deficit was $46.6 billion,
reflecting average exports of $94.1 billion and average
imports of $140.7 billion.
                                  
Selected Not Seasonally Adjusted Goods Details 
          
     The May figures showed surpluses, in billions of dollars,
with Australia $0.6 (for April $0.5), Hong Kong $0.6 ($0.6),
Singapore $0.6 ($0.3), and Egypt $0.2 ($0.1).  Deficits were
recorded, in billions of dollars, with China $12.1 ($12.0),
Western Europe $8.2 ($10.1), the European Union (25) $7.9
($9.6),  OPEC $5.6 ($5.3), Japan $5.5 ($6.4), Canada $4.8 ($5.6),
Mexico $3.8 ($3.2), Korea $1.6 ($1.7), Taiwan $1.0 ($1.1), and
Brazil $0.4 ($0.5). 

     Advanced technology products (ATP) exports were
$17.1 billion in May and imports were $18.2 billion, resulting
in a deficit of $1.2 billion.  May exports were $0.7 billion more
than the $16.4 billion in April, while imports were $1.3 billion
less than the $19.5 billion in April.

Revisions
     
     Goods carry-over in May was $0.3 billion (0.4 percent) for
exports and $0.7 billion (0.6 percent) for imports.  For April,
revised export carry-over was $0.1 billion (0.1 percent),
revised down from $0.2 billion (0.3 percent).  For April,
revised import carry-over was $0.1 billion (0.1 percent),
revised down from $0.7 billion (0.6 percent).  

     Services exports for April were revised up $0.3 billion to
$28.5 billion; the revision was mostly accounted for by
upward revisions in travel and passenger fares.  Services
imports for April were revised up $0.3 billion to $23.6 billion;
the revision was more than accounted for by upward
revisions in travel and passenger fares.

Notice Regarding The European Union
                                 
On May 1, 2004, the European Union expanded from fifteen 
countries to twenty-five countries. As a result, beginning with 
this issue of the U.S. International Trade in Goods and Service 
report, Exhibits 14 and 14a have been modified to include an 
additional line reflecting the new composition of the European 
Union.  For the remainder of 2004 the Exhibits will show the prior 
European Union composition as European Union (15) and the new 
composition as European Union (25).  With the release of January 
2005 statistics, European Union (15) will be eliminated and 
exhibits 14 and 14a will be redesigned.
                                             

                                 
Scheduled release dates through February 2005 are located on page 30          

Table of Contents

Seasonally Adjusted
   
Exhibit 1 International Trade in Goods and Services. . . . . . . .4

Exhibit 2 U.S. International Trade in Goods and Services 
     Three - month Moving Averages. . . . . . . . . . . . . . . . 5

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 
     Category. . . . . . . . . . . . . . . . . . . . . . . . . . .9

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 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 
      Category. . . . . . . . . . . . . . . . . . . . . . . . . .18

Exhibit 14  Exports, Imports, and Balance of Goods by Selected  
      Countries and Areas. . . . . . . . . . . . . . . . . . . . 19

Exhibit 15  Exports and Imports of Goods by Principal SITC 
      Commodities. . . . . . . . . . . . . . . . . . . . . . . . 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