                       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 THURSDAY, MAY 10, 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
                                                  
                                        CB07-65, BEA07-20, FT-900 (07-03)

               U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                           March 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 March exports of $126.2 billion 
and imports of $190.1 billion resulted in a goods and 
services deficit of $63.9 billion, $6.0 billion more 
than the $57.9 billion in February, revised.  March 
exports were $2.2 billion more than February exports 
of $124.0 billion.  March imports were $8.2 billion 
more than February imports of $181.9 billion.
                                                                 
     In March, the goods deficit increased $6.0 billion 
from February to $70.2 billion, and the services surplus 
was virtually unchanged at $6.3 billion.  Exports of goods 
increased $1.8 billion to $90.2 billion, and imports of goods 
increased $7.8 billion to $160.3 billion.  Exports of services 
increased $0.4 billion to $36.1 billion, and imports of 
services increased $0.4 billion to $29.8 billion.

     In March, the goods and services deficit was up 
$1.6 billion from March 2006.  Exports were up $10.7 billion, 
or 9.2 percent, and imports were up $12.3 billion, or 6.9 percent.
     
Goods
                                 
     The February to March change in exports of goods reflected 
increases in industrial supplies and materials ($1.3 billion); 
automotive vehicles, parts, and engines ($0.6 billion); 
consumer goods ($0.3 billion); and other goods ($0.2 billion). 
A decrease occurred in foods, feeds, and beverages ($0.3 billion). 
Capital goods were virtually unchanged.   

     The February to March change in imports of goods reflected 
increases in industrial supplies and materials ($5.0 billion); 
automotive vehicles, parts, and engines ($0.9 billion); 
consumer goods ($0.7 billion); and foods, feeds, and beverages 
($0.3 billion).  A decrease occurred in capital goods ($0.1 billion). 
Other goods were virtually unchanged. 

2     

     The March 2006 to March 2007 change in exports of goods 
reflected increases in industrial supplies and materials 
($2.5 billion); capital goods ($1.6 billion); consumer goods 
($1.4 billion); automotive vehicles, parts, and engines 
($1.3 billion); other goods ($1.0 billion); and foods, feeds, 
and beverages ($0.7 billion).
          
     The March 2006 to March 2007 change in imports of goods 
reflected increases in consumer goods ($3.6 billion); industrial 
supplies and materials ($2.6 billion); capital goods ($1.7 billion); 
automotive vehicles, parts, and engines ($0.8 billion); foods, feeds, 
and beverages ($0.6 billion); and other goods ($0.2 billion).  

Services

     Services exports increased $0.4 billion from February 
to March.  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 other transportation (which 
includes freight and port services).  Changes in other categories 
of services exports were small and nearly offsetting.
           
     Services imports increased $0.4 billion from February to March.  
The increase was mostly accounted for by increases in travel, other 
private services, and other transportation.  Changes in other 
categories of services imports were small. 
          
     From March 2006 to March 2007, services exports increased 
$2.6 billion.  The largest increases were in other private services 
($1.7 billion), travel ($0.6 billion), and royalties and license 
fees ($0.3 billion).
  
     From March 2006 to March 2007, services imports increased 
$1.8 billion.  The largest increases were in other private services 
($1.3 billion), travel ($0.2 billion), and royalties and license fees 
($0.2 billion). 
                                                                   
Goods and Services Moving Average 

     For the three months ending in March, exports of goods and 
services averaged $125.7 billion, while imports of goods and services 
averaged $185.9 billion, resulting in an average trade deficit of 
$60.2 billion.  For the three months ending in February, the average 
trade deficit was $59.4 billion, reflecting average exports of 
$125.4 billion and average imports of $184.8 billion.
                                                                   
Selected Not Seasonally Adjusted Goods Details 

     The March figures showed surpluses, in billions of dollars, 
with Hong Kong $1.3 ($0.8 for February), Australia $1.0 ($0.9), 
Singapore $0.9 ($0.8), Egypt $0.2 ($0.3), and Argentina $0.1($0.0). 
Deficits were recorded, in billions of dollars, with China $17.2 ($18.4), 
Europe $8.9 ($7.2), OPEC $8.7 ($7.0), the European Union $7.7 ($6.4), 
Japan $7.1 ($7.1), Mexico $6.7 ($5.1), Canada $5.7 ($4.7), 
Korea $1.2 ($1.1), Taiwan $1.0 ($0.9), and Brazil $0.4 ($0.1).

     Advanced technology products (ATP) exports were $24.2 billion 
in March and imports were $27.1 billion, resulting in a deficit of 
$2.9 billion.  March exports were $4.8 billion more than the 
$19.4 billion in February, while imports were $3.5 billion more 
than the $23.6 billion in February.

Revisions
                                  
     Goods carry-over in March was $0.1 billion (0.1 percent) for 
exports and $0.6 billion (0.4 percent) for imports. For February, 
revised export carry-over was $0.1 billion (0.1 percent), revised 
down from $0.3 billion (0.4 percent).  For February, revised import 
carry-over was $0.3 billion (0.2 percent), revised down from 
$1.2 billion (0.9 percent).
     
     Services exports for February were revised up $0.1 billion 
to $35.6 billion.  The revision was accounted for by small upward 
revisions in several categories.  Services imports for February 
were revised down $0.2 billion to $29.4 billion.  The revision was 
mostly accounted for by a downward revision in 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