                       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. EST FRIDAY, MARCH 9, 2007
     
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
                                                  
                                   CB07-36, BEA07-08, FT-900 (07-01)
               
U.S. INTER    NATIONAL TRADE IN GOODS AND SERVICES
                          January 2007
                                
                                
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 January exports of
$126.7 billion and imports of $185.8 billion resulted in
a goods and services deficit of $59.1 billion, compared
with $61.5 billion in December, revised.  January exports
were $1.4 billion more than December exports of $125.3
billion.  January imports were $1.0 billion less than
December imports of $186.7 billion.
                                                                 
     In January, the goods deficit decreased $2.6 billion from
December to $65.4 billion, and the services surplus
decreased $0.3 billion to $6.3 billion.  Exports of goods
increased $1.5 billion to $90.9 billion, and imports of goods
decreased $1.1 billion to $156.3 billion.  Exports of services
decreased $0.1 billion to $35.8 billion, and imports of
services increased $0.2 billion to $29.5 billion.

     In January, the goods and services deficit was down $7.4
billion from January 2006.  Exports were up $12.3 billion,
or 10.7 percent, and imports were up $4.9 billion, or 2.7
percent.
     
Goods
                                 
     The December to January change in exports of goods 
reflected increases in capital goods ($1.0 billion); consumer
goods ($0.5 billion); foods, feeds, and beverages ($0.3 















billion); and industrial supplies and materials ($0.3
billion). Decreases occurred in automotive vehicles, parts,
and engines ($0.7 billion) and other goods ($0.2 billion). 


     The December to January change in imports of goods
reflected decreases in automotive vehicles, parts, and
engines ($1.5 billion); consumer goods ($1.4 billion); and
other goods ($0.1 billion). Increases occurred in capital
goods ($1.3 billion); industrial supplies and materials
($0.4 billion); and foods, feeds, and beverages ($0.1
billion). 
2
     
     The January 2006 to January 2007 change in exports of
goods reflected increases in capital goods ($4.0 billion);
industrial supplies and materials ($2.9 billion); consumer
goods ($1.6 billion); foods, feeds, and beverages ($0.9
billion); other goods ($0.7 billion); and automotive vehicles,
parts, and engines ($0.1 billion).
          
     The January 2006 to January 2007 change in imports of
goods reflected increases in consumer goods ($3.2 billion);
capital goods ($2.6 billion); and foods, feeds, and beverages
($0.4 billion). Decreases occurred in industrial supplies and
materials ($2.3 billion) and automotive vehicles, parts, and
engines ($1.0 billion). Other goods were virtually unchanged. 

Services

     Services exports decreased $0.1 billion from December to
January.  Decreases in transfers under U.S. military sales
contracts and other transportation (which includes freight and
port services) were partly offset by an increase in other private
services (which includes items such as business, professional,
and technical services, insurance services, and financial
services).  Changes in other categories of services exports were
small.  
          
     Services imports increased $0.2 billion from December to
January.  The increase was mostly accounted for by an
increase in other private services.  Changes in other categories
of services imports were small. 
          
     From January 2006 to January 2007, services exports
increased $2.6 billion.  The largest increases were in other
private services ($1.7 billion) and travel ($0.4 billion).
  
     From January 2006 to January 2007, services imports
increased $2.1 billion.  The largest increases were in other
private services ($1.4 billion) and travel ($0.4 billion). 
                                                                   
Goods and Services Moving Average 

     For the three months ending in January, exports of goods
and services averaged $125.6 billion, while imports of goods
and services averaged $185.2 billion, resulting in an average
trade deficit of $59.6 billion.  For the three months ending in
December, the average trade deficit was $59.5 billion,
reflecting average exports of $124.5 billion and average
imports of $184.0 billion.




                                                                   























Selected Not Seasonally Adjusted Goods Details 

     The January figures showed surpluses, in billions of
dollars, with Hong Kong $1.1 ($1.1 for December), Australia
$0.7 ($0.8), Singapore $0.5 ($1.7), Egypt $0.2 ($0.1),
Argentina $0.1 ($0.1), and Brazil $0.1 ($0.1).  Deficits were
recorded, in billions of dollars, with China $21.3 ($19.0),
OPEC $9.3 ($6.9), Europe $7.7 ($10.1), Canada $6.9 ($5.6),
Japan $6.5 ($7.5), the European Union $6.5 ($9.0), Mexico
$4.6 ($5.0), Korea $1.6 ($0.7), and Taiwan $1.4 ($1.1).

     Advanced technology products (ATP) exports were $20.8
billion in January and imports were $25.5 billion, resulting in
a deficit of $4.7 billion.  January exports were $2.2 billion
less than the $23.0 billion in December, while imports were
$0.3 billion more than the $25.2 billion in December.

Revisions
                                  
     Goods carry-over in January was $0.3 billion (0.3 percent)
for exports and $1.2 billion (0.8 percent) for imports. For
December, revised export carry-over was $0.1 billion (0.1
percent), revised down from $0.2 billion (0.3 percent).  For
December, revised import carry-over was $0.2 billion (0.1
percent), revised down from $1.2 billion (0.8 percent).
     
     Goods and services exports and imports for all months in 2006
were revised in order to align the seasonally adjusted monthly data
with the annual totals.
     
     Services exports and imports for July through December 2006
reflect the incorporation of more comprehensive and revised
quarterly and monthly data.  For services exports, the largest
revisions over the entire period were in other private services and
passenger fares.  For services imports, the largest revisions over the
entire period were in royalties and license fees and travel.

Services exports for December were revised down $0.2 billion to
$35.9 billion; the revision was more than accounted for by 
downward revisions in other private services and transfers under
U.S. military sales contracts.  Services imports for December
were revised up $0.2 billion to $29.3 billion; the revision was
more than accounted for by upward revisions in royalties and
license fees and travel.
                                                                        
                         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 16aExports, Imports, and Balance of Advanced Technology Products
               by Technology Group and Selected Countries and Areas24

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

Exhibit 18  Exports and Imports of Motor Vehicles and Parts By Selected Countries26

Information on Goods and Services. . . . . . . . . . . . . . . . 27
             
                              NOTICE
           **Changes to End-Use Classification System**
Effective with this release, the Bureau of Economic Analysis (BEA) and the U.S. Census Bureau
have made reassignments of commodities and other changes to the End-Use Classification System. 
These changes were made to achieve a consistent classification between exports and imports and to
more appropriately group the commodities by their end-use characteristics.  The changes were based
on recommendations from the BEA, the U.S. Census Bureau, and other federal agencies.  The
changes also reflect the result of the work of the World Customs Organization (WCO) as part of its
long-term program to review the nomenclature of the international Harmonized System, from which
the end-use classifications are derived.  The last set of WCO modifications to the Harmonized
System was introduced in January 2002.  Nearly all of the changes effective with this release
involve reclassification within 1-digit end-use commodity categories.  Reclassifications across 1-
digit categories result in level changes of less than one-tenth of one percent in all instances.
Historical data on the newly developed basis for 2004, 2005, and 2006 will appear in the April FT-
900 release, the Annual Revision for 2006 release, and BEA's International Transactions release 
all to be released in June 2007. More detailed information on these changes is available on the BEA
website at: http://www.bea.gov/international/pdf/end_use_commodity.pdf.
                **Changes to Countries and Areas**
Effective with this release, the U.S. International Trade in Goods and Services report is revised to
reflect country changes for Serbia and Montenegro, the European Union, the Euro Area, and OPEC
as specified below. The changes affect exhibit 14 in the FT-900 U.S. International Trade in Goods
and Services report and exhibits 3 and 6 in the FT-900 supplement. The changes for these countries
and areas take affect with 2007 statistics. The statistics for prior time periods remain unchanged. If
you have any questions or comments, please contact Vanessa Ware at (301) 763-2311 or e-mail at
vanessa.ware@census.gov.
The European Union
Bulgaria and Romania are included in the European Union in exhibit 14 of the FT-900 report and
exhibit 6 of the FT-900 supplement.
Euro Area
Slovenia is added to the Euro Area in exhibit 14 of the FT-900 report and exhibit 6 of the FT-900
supplement.
OPEC
Angola is added to OPEC in exhibit 14 of the FT-900 report and exhibits 3 and 6 of the FT-900
supplement.
Serbia and Montenegro
The former country of Serbia and Montenegro is listed as two countries in exhibits 6 and 6a of the
FT-900 supplement.

