                       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 TUESDAY, AUGUST 14, 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
                                                  
                                        CB07-112, BEA07-37, FT-900 (07-06)


               U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                           June 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 June exports of $134.5 billion 
and imports of $192.7 billion resulted in a goods and 
services deficit of $58.1 billion, compared with 
$59.2 billion in May, revised.  June exports were 
$2.0 billion more than May exports of $132.6 billion.  
June imports were $0.9 billion more than May  imports 
of $191.7 billion.
                                                                 
     	In June, the goods deficit decreased $1.0 billion 
from May to $67.5 billion, and the services surplus was 
virtually unchanged at $9.4 billion.  Exports of goods 
increased $1.7 billion to $95.2 billion, and imports of 
goods increased $0.8 billion to $162.7 billion.  Exports 
of services increased $0.2 billion to $39.4 billion, and 
imports of services increased $0.2 billion to $30.0 billion.

    	In June, the goods and services deficit was down 
$6.4 billion from June 2006.  Exports were up $13.5 billion, 
or 11.2 percent, and imports were up $7.1 billion, or 3.8 percent.
    
 
Goods
                                 
     The May to June change in exports of goods reflected 
increases in industrial supplies and materials ($1.2 billion); 
other goods ($0.3 billion); automotive vehicles, parts, and 
engines; capital goods ($0.1 billion); and foods, feeds, and 
beverages ($0.1 billion). A decrease occurred in consumer 
goods ($0.2 billion).   

     The May to June change in imports of goods reflected 
increases in automotive vehicles, parts, and engines 
($0.9 billion); capital goods ($0.6 billion); and other 
goods ($0.1 billion). A decrease occurred in consumer goods 
($0.2 billion). Industrial supplies and materials and foods, 
feeds, and beverages were virtually unchanged.  
                                 

2     


     The June 2006 to June 2007 change in exports of goods 
reflected increases in industrial supplies and materials 
($3.5 billion); capital goods ($1.8 billion); foods, feeds, 
and beverages ($1.2 billion); consumer goods ($1.0 billion); 
automotive vehicles, parts, and engines ($0.9 billion); and 
other goods ($0.7 billion).                                
               
     The June 2006 to June 2007 change in imports of goods 
reflected increases in capital goods ($2.4 billion); consumer 
goods ($2.2 billion); industrial supplies and materials 
($0.7 billion); foods, feeds, and beverages ($0.6 billion); 
and other goods ($0.2 billion). A decrease occurred in 
automotive vehicles, parts, and engines ($0.5 billion).  

Services

     Services exports increased $0.2 billion from May to June.  
The increase was accounted for by increases in other private 
services (which includes items such as business, professional, 
and technical services, insurance services, and financial services) 
and travel, which were partly offset by a decrease in transfers 
under U.S. military sales contracts.  Changes in other 
categories of services exports were small.                                                                                       
     Services imports increased $0.2 billion from May to June.  
The increase was accounted for by increases in other private 
services and travel, which were partly offset by a decrease in 
other transportation (which includes freight and port services).  
Changes in other categories of services imports were small. 
          
     From June 2006 to June 2007, services exports increased 
$4.6 billion.  The largest increases were in other private 
services ($2.5 billion), travel ($1.0 billion), and royalties 
and license fees ($0.6 billion).
  
     From June 2006 to June 2007, services imports increased 
$1.3 billion.  The largest increases were in other private 
services ($1.1 billion) and travel ($0.2 billion). 
                                                                   
Goods and Services Moving Average 

     For the three months ending in June, exports of goods and 
services averaged $132.1 billion, while imports of goods and 
services averaged $190.7 billion, resulting in an average trade 
deficit of $58.7 billion.  For the three months ending in May,
the average trade deficit was $60.1 billion, reflecting average 
exports of $130.3 billion and average imports of $190.4 billion.
                                                                   
Selected Not Seasonally Adjusted Goods Details 

     The June figures showed surpluses, in billions of dollars, 
with Hong Kong $1.2 ($1.0 for May), Singapore $1.0 ($0.2), 
Australia $0.9 ($0.8), Argentina $0.2 ($0.1), and Egypt $0.2 
(virtually zero). Deficits were recorded, in billions of dollars, 
with China $21.2 ($20.0), OPEC $9.9 ($11.0), Europe $9.6 ($9.9), 
the European Union $9.2 ($8.8), Mexico $6.4 ($5.9), Japan $6.3 ($5.9), 
Canada $5.8 ($5.2), Korea $0.9 ($1.5), Taiwan $0.7 ($1.0), and 
Brazil $0.4 ($0.2).

     Advanced technology products (ATP) exports were $24.2 billion 
in June and imports were $27.5 billion, resulting in a deficit of 
$3.3 billion.  June exports were $1.9 billion more than the 
$22.3 billion in May, while imports were $2.1 billion more than 
the $25.4 billion in May.

Revisions
                                  
     Goods carry-over in June was $0.4 billion (0.4 percent) for 
exports and $1.1 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 
$0.2 billion (0.1 percent), revised down from $1.3 billion 
(0.8 percent).
     
     Services exports for May were revised up $0.4 billion to $39.1 
billion.  The revision was mostly accounted for by upward revisions 
in travel and passenger fares.  Services imports for May were virtually 
unchanged at $29.8 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 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