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 WEDNESDAY, JULY 12, 2006

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) 606-2649

                                        CB06-108, BEA06-32, FT-900 (06-05)
               
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
May 2006
                                
                                
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
$118.7 billion and imports of $182.5 billion resulted in
a goods and services deficit of $63.8 billion, $0.5 billion
more than the $63.3 billion in April, revised.  May
exports were $2.7 billion more than April exports of
$115.9 billion.  May imports were $3.2 billion more  than
April imports of $179.3 billion.
                                                                 
In May, the goods deficit increased $0.5 billion from
April to $70.1 billion, and the services surplus was virtually
unchanged at $6.2 billion.  Exports of goods increased $2.4
billion to $84.2 billion, and imports of goods increased $2.9
billion to $154.3 billion.  Exports of services increased $0.4
billion to $34.4 billion, and imports of services increased
$0.3 billion to $28.2 billion.

In May, the goods and services deficit was up $7.2 billion
from May 2005.  Exports were up $13.3 billion, or 12.6
percent, and imports were up $20.5 billion, or 12.7 percent.

     
Goods

The April to May change in exports of goods reflected
increases in capital goods ($0.8 billion);  industrial supplies
and materials ($0.8 billion); consumer goods ($0.5 billion);
foods, feeds, and beverages ($0.4 billion); and other goods
($0.1 billion). A decrease occurred in automotive vehicles,
parts, and engines ($0.1 billion).

The April to May change in imports of goods reflected
increases in industrial supplies and materials ($3.4
billion) and capital goods ($0.2 billion). Decreases
occurred in  automotive vehicles, parts, and engines ($0.5
billion)  and  foods, feeds, and beverages ($0.1 billion).
Consumer goods and other goods were virtually
unchanged. 
     
The May 2005 to May 2006 change in exports of goods
reflected increases in capital goods ($4.5 billion); industrial
supplies and materials ($3.3 billion); consumer goods ($1.0
billion); automotive vehicles, parts, and engines ($0.7
billion); other goods ($0.4 billion); and foods, feeds, and
beverages ($0.3 billion).
          
The May 2005 to May 2006 change in imports of goods
reflected increases in industrial supplies and materials ($11.8
billion); capital goods ($3.4 billion); consumer goods ($1.3
billion); automotive vehicles, parts, and engines ($1.1
billion);  foods, feeds, and beverages ($0.5 billion); and other
goods ($0.1 billion).

Services

Services exports increased $0.4 billion from April to May. 
The increase was mostly accounted for by increases in other
private services (which includes items such as business,
professional, and technical services, insurance services, and
financial services), travel, and passenger fares. Changes in
other categories of services exports were small.
          
Services imports increased $0.3 billion from April to May.
The increase was mostly accounted for by increases in other
transportation (which includes freight and port services)  and
other private services. Changes in other categories of services
imports were small.
          
From May 2005 to May 2006, services exports increased
$3.1 billion.  The largest increases were in other private
services ($1.4 billion), other transportation ($0.7 billion),
and royalties and license fees ($0.5 billion).  

From May 2005 to May 2006, services imports increased
$2.3 billion.  The largest increases were in other private
services ($1.3 billion) and other transportation ($0.4 billion).

                                                                   
Goods and Services Moving Average 

For the three months ending in May, exports of goods and
services averaged $116.8 billion, while imports of goods and
services averaged $179.9 billion, resulting in an average trade
deficit of $63.0 billion.  For the three months ending in April,
the average trade deficit was $62.6 billion, reflecting average
exports of $115.2 billion and average imports of $177.9
billion.

Selected Not Seasonally Adjusted Goods Details 

The May figures showed surpluses, in billions of dollars,
with Hong Kong $0.8 ($0.8 for April), Australia $0.8 ($0.8),
Singapore $0.6 ($0.6), Egypt $0.2 ($0.1), and Argentina
$0.1 ($0.1). Deficits were recorded, in billions of dollars,
with China $17.7 ($17.0),  Europe $13.5 ($11.2), the
European Union $10.8 ($9.4), OPEC $10.2 ($8.1), Japan
$7.1 ($7.8), Canada $5.8 ($6.2), Mexico $5.5 ($4.9), Korea
$1.7 ($0.8), Taiwan $1.4 ($1.3), and Brazil $0.4 ($0.6).

Advanced technology products (ATP) exports were
$19.9 billion in May and imports were $22.9 billion,
resulting in a deficit of $2.9 billion.  May  exports were $0.2
billion more than the $19.8 billion in April, while imports
were $1.4 billion more than the $21.5 billion in April.

Revisions

Goods carry-over in May was $0.2 billion (0.3  percent)
for exports and $1.0 billion (0.6 percent) for imports. For
April, revised export carry-over was virtually zero, revised
down from $0.2 billion (0.2 percent). For April, revised
import carry-over was $0.1 billion (0.1 percent), revised
down from $0.8 billion (0.5 percent).

Services exports for April were revised up $0.3 billion to
$34.1 billion; the revision was accounted for by upward
revisions in travel and other transportation. Services
imports for April were revised up $0.1 billion to $27.9
billion; the revision was mostly accounted for by an upward
revision in travel.

Table of Contents

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 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  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 
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 16a Exports, Imports, and Balance of Advanced Technology 
Products by Technology Group and Selected Countries and Areas. . 24

Exhibit 17  Imports of Energy-Related Petroleum Products, 
Including Crude Oil. . . . . . . . . . . . . . . . . . . . . . . 25

Exhibit 18  Exports and Imports of Motor Vehicles and Parts By 
Selected Countries. . . . . . . . . . . . . . . . . . . . . . . .26

Information on Goods and Services. . . . . . . . . . . . . . . . 27

SOURCE: Report FT900 (CB-06-108, BEA-06-32), Bureau of the Census, Foreign
Trade Division, May 2006.  For more information, contact Nick Orsini
(301-763-6959) or Vanessa Ware (301-763-2311), Foreign Trade Division.
