U.S. Census Bureau U.S. Bureau of Economic Analysis NEWS U.S. Department of Commerce · Washington, D.C. 20230 FOR IMMEDIATE RELEASE 8:30 A.M. EDT FRIDAY, AUGUST 12, 2005 For information on goods contact: For information on services contact: U.S. Census Bureau: U.S. Bureau of Economic Analysis: Nick Orsini (301) 763-6959 Technical: Christopher Bach (202) 606-9545 Vanessa Ware (301) 763-2311 Media: Ralph Stewart (202) 606-9690 CB05-117, BEA05-36, FT-900 (05-06) U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES June 2005 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 June exports of $106.8 billion and imports of $165.6 billion resulted in a goods and services deficit of $58.8 billion, $3.4 billion more than the $55.4 billion in May, revised. June exports were virtually unchanged from May, and June imports were $3.4 billion more than May imports of $162.2 billion. In June, the goods deficit increased $3.3 billion from May to $64.0 billion, and the services surplus decreased $0.1 billion to $5.2 billion. Exports of goods were virtually unchanged at $74.5 billion, and imports of goods increased $3.2 billion to $138.5 billion. Exports of services increased $0.1 billion to $32.4 billion, and imports of services increased $0.2 billion to $27.1 billion. In June, the goods and services deficit was up $3.9 billion from June 2004. Exports were up $12.6 billion, or 13.4 percent, and imports were up $16.5 billion, or 11.1 percent. Goods The May to June change in exports of goods reflected decreases in foods, feeds, and beverages ($0.4 billion); consumer goods ($0.2 billion); and industrial supplies and materials ($0.2 billion). Increases occurred in capital goods ($0.6 billion); other goods ($0.1 billion); and automotive vehicles, parts, and engines ($0.1 billion). The May to June change in imports of goods reflected increases in industrial supplies and materials ($2.2 billion); capital goods ($1.2 billion); and consumer goods ($0.1 billion). Decreases occurred in automotive vehicles, parts, and engines ($0.2 billion) and other goods ($0.1 billion). Foods, feeds, and beverages were virtually unchanged. The June 2004 to June 2005 change in exports of goods reflected increases in capital goods ($3.3 billion); industrial supplies and materials ($3.1 billion); consumer goods ($1.0 billion); automotive vehicles, parts, and engines ($0.6 billion); foods, feeds, and beverages ($0.5 billion); and other goods ($0.1 billion). The June 2004 to June 2005 change in imports of goods reflected increases in industrial supplies and materials ($6.6 billion); capital goods ($3.3 billion); consumer goods ($2.9 billion); automotive vehicles, parts, and engines ($0.6 billion); other goods ($0.4 billion); and foods, feeds, and beverages ($0.4 billion). Services Services exports increased $0.1 billion from May to June. The increase was more than accounted for 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 increased $0.2 billion from May to June. The increase was mostly accounted for by increases in other private services and travel. Changes in the other categories of services imports were small. From June 2004 to June 2005, services exports increased $3.9 billion. The largest increases were in other private services ($1.2 billion), royalties and license fees ($0.9 billion), and travel ($0.8 billion). From June 2004 to June 2005, services imports increased $2.4 billion. The largest increases were in other private services ($1.0 billion), other transportation ($0.4 billion), which includes freight and port services, travel ($0.4 billion), and royalties and license fees ($0.4 billion). Goods and Services Moving Average For the three months ending in June, exports of goods and services averaged $106.8 billion, while imports of goods and services averaged $163.8 billion, resulting in an average trade deficit of $57.0 billion. For the three months ending in May, the average trade deficit was $55.3 billion, reflecting average exports of $105.6 billion and average imports of $160.9 billion. Scheduled release dates through February 2006 are located on page 30Selected Not Seasonally Adjusted Goods Details The June figures showed surpluses, in billion of dollars, with Hong Kong $0.7 (for May $0.7), Australia $0.7 ($0.7), Singapore $0.5 ($0.5), and Egypt $0.2 ($0.1). Deficits were recorded, in billions of dollars, with China $17.6 ($15.8), Europe $12.8 ($12.1), the European Union $10.8 ($10.5), OPEC $7.7 ($7.3), Japan $6.9 ($6.6), Canada $5.4 ($4.8), Mexico $4.8 ($4.5), Korea $1.3 ($1.5), Taiwan $1.2 ($0.9), and Brazil $0.8 ($0.7). Advanced technology products (ATP) exports were $19.3 billion in June and imports were $22.9 billion, resulting in a deficit of $3.7 billion. June exports were $2.1 billion more than the $17.2 billion in May, while imports were $1.9 billion more than the $21.0 billion in May. Revisions Goods carry-over in June was $0.3 billion (0.4 percent) for exports and $1.0 billion (0.7 percent) for imports. For May, revised export carry-over was $0.1 billion (0.1 percent), revised down from $0.2 billion (0.3 percent). For May, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.9 billion (0.7 percent). Services exports for May were revised down $0.1 billion to $32.3 billion; the revision was mostly accounted for by a downward revision in travel. Services imports for May were virtually unchanged at $27.0 billion. Table of Contents December 1995 Seasonally Adjusted Exhibit 1 U.S. International Trade in Goods and Services . . . 4 Exhibit 2 U.S. International Trade in Goods and Services 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 Exports, Imports, and Balance of Goods, 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 Commodities21 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