                       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, OCTOBER 11, 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
Joe Kafchinski (301) 763-2311           Media:      Ralph Stewart     (202) 606-2649
                                                  
                                        CB07-143, BEA07-49, FT-900 (07-08)


               U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                          August 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 August exports of $138.3 billion 
and imports of $195.9 billion resulted in a goods and 
services deficit of $57.6 billion, $1.4 billion less than 
the $59.0 billion in July, revised.  August exports were 
$0.6 billion more than July exports of $137.7 billion.  
August imports were $0.8 billion less than July  imports 
of $196.7 billion.
                                                                 
     In August, the goods deficit decreased $1.2 billion 
from July to $66.6 billion, and the services surplus 
increased $0.2 billion to $9.0 billion.  Exports of goods 
increased $0.3 billion to $99.0 billion, and imports of goods 
decreased $0.8 billion to $165.5 billion.  Exports of services 
increased $0.3 billion to $39.4 billion, and imports of 
services were virtually unchanged at $30.4 billion.
     
     In August, the goods and services deficit was down 
$10.0 billion from August 2006.  Exports were up $15.7 billion, 
or 12.8 percent, and imports were up $5.7 billion, or 3.0 percent.
     
Goods
                                 
     The July to August change in exports of goods reflected 
increases in industrial supplies and materials ($0.9 billion); 
foods, feeds, and beverages ($0.6 billion); and consumer goods 
($0.2 billion).  Decreases occurred in automotive vehicles, 
parts, and engines ($1.0 billion); other goods ($0.3 billion); 
and capital goods ($0.2 billion).
     
     The July to August change in imports of goods reflected 
decreases in industrial supplies and materials ($0.7 billion); 
automotive vehicles, parts, and engines ($0.4 billion); and  
consumer goods ($0.2 billion).  Increases occurred in capital 
goods ($0.3 billion); other goods ($0.1 billion); and foods, 
feeds, and beverages ($0.1 billion).


2     
     

     The August 2006 to August 2007 change in exports of goods 
reflected increases in industrial supplies and materials 
($3.9 billion); capital goods ($3.4 billion); foods, feeds, 
and beverages ($1.7 billion); consumer goods ($1.3 billion);  
and automotive vehicles, parts, and engines ($1.1 billion).  
Other goods were virtually unchanged.

     The August 2006 to August 2007 change in imports of goods 
reflected increases in consumer goods ($1.8 billion); capital 
goods ($1.7 billion); automotive vehicles, parts, and engines 
($0.9 billion); foods, feeds, and beverages ($0.6 billion); and 
other goods ($0.4 billion). A decrease occurred in industrial 
supplies and materials ($1.8 billion).

Services                
                                           
     Services exports increased $0.3 billion from July to August.  
The increase was mostly accounted for by an increase in travel. 
Changes in other categories of services exports were small.    
                 
     Services imports were virtually unchanged from July to August.  
Changes in all categories of services imports were small and nearly 
offsetting.

     From August 2006 to August 2007, services exports increased 
$4.1 billion.  The largest increases were in other private services, 
which includes items such as business, professional, and technical 
services, insurance services, and financial services  ($2.1 billion), 
travel ($1.1 billion), and royalties and license fees ($0.5 billion).
  
     From August 2006 to August 2007, services imports increased 
$1.8 billion.  The largest increases were in other private services 
($1.1 billion), travel ($0.3 billion), and royalties and license fees 
($0.2 billion).
                                                                   
Goods and Services Moving Average 

     For the three months ending in August, exports of goods and 
services averaged $136.7 billion, while imports of goods and services 
averaged $195.4 billion, resulting in an average trade deficit of 
$58.7 billion.  For the three months ending in July, the average 
trade deficit was $59.3 billion, reflecting average exports of 
$134.8 billion and average imports of $194.1 billion.

     Selected Not Seasonally Adjusted Goods Details 

     The August figures showed surpluses, in billions of dollars, 
with Hong Kong $1.1 ($0.9 for July), Australia $0.9 ($0.7), 
Singapore $0.6 ($0.5), Egypt $0.4 ($0.1), and  Argentina $0.1 ($0.2).  
Deficits were recorded, in billions of dollars, with China 
$22.5 ($23.8), OPEC $11.4 ($10.9), Europe $11.1 ($14.8), the 
European Union $10.2 ($13.0),  Mexico $6.9 ($5.6), Japan $6.7 ($8.0), 
Canada $5.3 ($5.7), Taiwan $0.8 ($1.0), Korea $0.8 ($1.4), and 
Brazil $0.2 ($0.2).
                                  
     Advanced technology products (ATP) exports were $23.2 billion in 
August and imports were $27.9 billion, resulting in a deficit of $4.7 
billion.  August exports were $1.1 billion more than the $22.2 billion 
in July, while imports were $0.8 billion more than the $27.1 billion 
in July.

Revisions
                                  
     Goods carry-over in August was $0.4 billion (0.4 percent) 
for exports and $1.5 billion (0.9 percent) for imports. For July, 
revised export carry-over was $0.1 billion (0.1 percent), revised 
down from $0.3 billion (0.3 percent).  For July, revised import 
carry-over was $0.7 billion (0.4 percent), revised down from 
$2.0 billion (1.2 percent).
     
Services exports for July were revised down $0.1 billion to 
$39.1 billion.  The revision was mostly accounted for by a downward 
revision in travel.  Services imports for July were virtually 
unchanged at $30.4 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