                       

			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 THURSDAY, JULY 12, 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
                                                  
                                        CB07-100, BEA07-33, FT-900 (07-05)

               U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                            May 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 May exports of $132.0 billion 
and imports of $192.1 billion resulted in a goods and 
services deficit of $60.0 billion, compared with 
$58.7 billion in April, revised.  May exports were 
$2.9 billion more than April exports of $129.2 billion.  
May imports were $4.2 billion more than April imports 
of $187.8 billion.
                                                                 
     	In May, the goods deficit increased $1.7 billion 
from April to $69.0 billion, and the services surplus 
increased $0.3 billion to $9.0 billion.  Exports of goods 
increased $2.4 billion to $93.3 billion, and imports of 
goods increased $4.0 billion to $162.3 billion.  Exports of 
services increased $0.5 billion to $38.7 billion, and 
imports of services increased $0.2 billion to $29.8 billion.

     	In May, the goods and services deficit was down 
$5.7 billion from May 2006.  Exports were up $13.2 billion, 
or 11.1 percent, and imports were up $7.5 billion, or 4.1 percent.
     

Goods
                                 
     	The April to May change in exports of goods reflected 
increases in capital goods ($1.9 billion);  industrial supplies 
and materials ($0.6 billion); and consumer goods ($0.1 billion). 
Decreases occurred in other goods ($0.2 billion) and foods, feeds, 
and beverages ($0.1 billion). Automotive vehicles, parts, and 
engines were virtually unchanged.   

     	The April to May change in imports of goods reflected 
increases in industrial supplies and materials ($2.4 billion); 
capital goods ($1.0 billion); consumer goods ($0.6 billion); 
other goods ($0.3 billion); and foods, feeds, and beverages 
($0.2 billion). A decrease occurred in automotive vehicles, parts, 
and engines ($0.5 billion).  

2     


     	The May 2006 to May 2007 change in exports of goods 
reflected increases in capital goods ($2.6 billion); 
industrial supplies and materials ($2.6 billion); 
consumer goods ($1.4 billion); automotive vehicles, parts, 
and engines ($1.2 billion); foods, feeds, and beverages ($1.1 billion); 
and other goods ($0.6 billion).
          
     	The May 2006 to May 2007 change in imports of goods 
reflected increases in consumer goods ($3.2 billion); 
capital goods ($2.1 billion); foods, feeds, and beverages ($0.7 billion); 
and other goods ($0.3 billion). Decreases occurred in automotive vehicles, 
parts, and engines ($0.5 billion) and industrial supplies and 
materials ($0.1 billion).  

Services

     	Services exports increased $0.5 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) 
and transfers under U.S. military sales contracts.  Changes in other 
categories of services exports were small and nearly offsetting.                                                            
     	Services imports increased $0.2 billion from April to May.  
The increase was more than 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 2006 to May 2007, services exports increased 
$3.8 billion.  The largest increases were in other private 
services ($2.2 billion), royalties and license fees ($0.6 billion), 
and travel ($0.5 billion).
  
     	From May 2006 to May 2007, services imports increased $1.2 billion.  
The largest increases were in other private services ($1.1 billion) and 
royalties and license fees ($0.2 billion). 
                                                                   
Goods and Services Moving Average 

     	For the three months ending in May, exports of goods and 
services averaged $130.1 billion, while imports of goods and 
services averaged $190.5 billion, resulting in an average trade 
deficit of $60.4 billion.  For the three months ending in April, 
the average trade deficit was $59.6 billion, reflecting average 
exports of $128.1 billion and average imports of $187.7 billion.
                                                                   
Selected Not Seasonally Adjusted Goods Details 

     	The May figures showed surpluses, in billions of dollars, 
with Hong Kong $1.0 ($1.0 for April), Australia $0.8 ($0.7), 
Singapore $0.2 ($0.4), and Argentina $0.1($0.1). Deficits were recorded, 
in billions of dollars, with China $20.0 ($19.4), OPEC $11.0 ($9.8), 
Europe $9.9 ($10.0), the European Union $8.8 ($9.0), Japan $5.9 ($7.4), 
Mexico $5.9 ($5.2), Canada $5.2 ($5.8), Korea $1.5 ($1.0), 
Taiwan $1.0 ($0.7), and Brazil $0.2 ($0.3).

     	Advanced technology products (ATP) exports were $22.3 billion 
in May and imports were $25.4 billion, resulting in a deficit of 
$3.1 billion.  May exports were $1.7 billion more than the $20.6 billion 
in April, while imports were $0.1 billion more than the $25.3 billion 
in April.

Revisions
                                  
     	Goods carry-over in May was $0.2 billion (0.3 percent) for 
exports and $1.3 billion (0.8 percent) for imports. For April, 
revised export carry-over was $0.1 billion (0.1 percent), revised 
down from $0.3 billion (0.3 percent).  For April, revised import 
carry-over was $0.1 billion (0.1 percent), revised down from 
$1.1 billion (0.7 percent).
     
	Services exports for April were revised down $0.1 billion 
to $38.2 billion.  The revision was mostly accounted for by downward 
revisions in other transportation and travel.  Services imports for 
April were revised down $0.2 billion to $29.6 billion.  The revision 
was mostly accounted for by downward revisions in passenger fares 
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