U.S. Census Bureau
U.S. Bureau of Economic Analysis
NEWS
U.S. Department of Commerce ? Washington, DC 20230


FOR IMMEDIATE RELEASE
8:30 A.M. EST THURSDAY, FEBRUARY 14, 2008

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
Maria Iseman
301-763-2311
Media:       Ralph Stewart
202-606-2649



CB08-27, BEA08-05, FT-900 (07-12)

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
December 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 December exports 
of $144.3 billion and imports of $203.1 billion resulted in 
a goods and services deficit of $58.8 billion, down from 
$63.1 billion in November, revised.  December exports 
were $2.2 billion more than November exports of $142.2 
billion.  December imports were $2.2 billion less than 
November imports of $205.3 billion.

In December, the goods deficit decreased $4.6 billion 
from November to $68.2 billion, and the services surplus 
decreased $0.2 billion to $9.5 billion. Exports of goods 
increased $2.3 billion to $103.1 billion, and imports of 
goods decreased $2.3 billion to $171.3 billion.  Exports of 
services decreased $0.1 billion to $41.2 billion, and 
imports of services increased $0.1 billion to $31.8 billion.

In December, the goods and services deficit was down 
$1.5 billion from December 2006.  Exports were up $17.2 
billion, or 13.6 percent, and imports were up $15.7 billion, 
or 8.4 percent.

Goods

The November to December change in exports of 
goods reflected increases in capital goods ($2.0 billion); 
industrial supplies and materials ($1.0 billion); and  
andand
                                                                     
consumer goods ($0.6 billion).  Decreases occurred in 
automotive vehicles, parts, and engines ($0.9 billion); 
other goods ($0.6 billion); and foods, feeds, and beverages 
($0.1 billion).

     The November to December change in imports of 
goods reflected decreases in automotive vehicles, parts, 
and engines ($2.1 billion); consumer goods ($0.5 billion); 
other goods ($0.4 billion); foods, feeds, and beverages 
($0.2 billion); and capital goods ($0.1 billion).  An 
increase occurred in industrial supplies and materials 
($0.8 billion).
 
The December 2006 to December 2007 change in 
exports of goods reflected increases in industrial supplies 
and materials ($5.2 billion); capital goods ($3.8 billion); 
foods, feeds, and beverages ($2.1 billion); consumer goods 
($1.5 billion); automotive vehicles, parts, and engines 
($0.6 billion); and other goods ($0.1 billion).

The December 2006 to December 2007 change in 
imports of goods reflected increases in industrial supplies 
and materials ($11.7 billion); capital goods ($2.1 billion); 
consumer goods ($0.9 billion); foods, feeds, and beverages 
($0.4 billion); and other goods ($0.1 billion).  A decrease 
occurred in automotive vehicles, parts, and engines ($2.2 
billion).

Services
	
	Services exports decreased $0.1 billion from 
November to December.  The decrease was more than 
accounted for by decreases in transfers under U.S. military 
sales contracts and travel. Increases in other private 
services (which includes items such as business, 
professional, and technical services, insurance services, 
and financial services), passenger fares, and royalties and 
license fees were partly offsetting.  Changes in other 
categories of services exports were small.
					
	Services imports increased $0.1 billion from 
November to December.  The increase was more than 
accounted for by increases in passenger fares and other 
private services.  A decrease in other transportation 
(which includes freight and port services) was partly 
offsetting.  Changes in other categories of services imports 
were small.
				
	From December 2006 to December 2007, services 
exports increased $3.6 billion.  The largest increases were 
in travel ($1.3 billion) and other private services ($0.9 
billion).
					
	From December 2006 to December 2007, services 
imports increased $2.5 billion.  The largest increases were 
in other private services ($1.1 billion), travel ($0.3 
billion), and other transportation ($0.3 billion).

Goods and Services Moving Average

 
For the three months ending in December, exports of 
goods and services averaged $142.6 billion, while imports 
of goods and services averaged $202.6 billion, resulting in 
an average trade deficit of $60.0 billion.  For the three 
months ending in November, the average trade deficit was 
$59.5 billion, reflecting average exports of $141.2 billion 
and average imports of $200.8 billion.

Selected Not Seasonally Adjusted Goods Details

The December figures showed surpluses, in billions 
of dollars, with Hong Kong $1.1 ($1.0 for November), 
Singapore $1.0 ($0.6), Australia $0.9 ($1.0), Brazil $0.6 
($0.1), and Egypt $0.3 ($0.3).  Deficits were recorded, in 
billions of dollars, with China $18.8 ($24.0), OPEC $12.3 
($11.8), Europe $9.2 ($12.0), the European Union $7.8 
($10.4), Japan $6.6 ($7.1), Mexico $6.5 ($7.6), Canada 
$4.7 ($4.7), Korea $0.4 ($1.2), and Taiwan $0.3 ($1.3).

Advanced technology products (ATP) exports were 
$24.8 billion in December and imports were $27.6 billion, 
resulting in a deficit of $2.8 billion.  December exports 
were $1.2 billion more than the $23.6 billion in 
November, while imports were $2.4 billion less than the 
$30.0 billion in November.

Revisions

Goods carry-over in December was $0.3 billion (0.3 
percent) for exports and $1.1 billion (0.7 percent) for 
imports. For November, revised export carry-over was 
$0.1 billion (0.1 percent), revised down from $0.3 billion 
(0.3 percent).  For November, revised import carry-over 
was $0.4 billion (0.2 percent), revised down from $1.3 
billion (0.7 percent).

The seasonally adjusted goods data for January 
through November were also revised to align the 
seasonally adjusted months with the annual totals.

Services exports for November were virtually 
unrevised at $41.4 billion.  Services imports for November 
were revised down $0.1 billion to $31.7 billion. The 
revision was more than accounted for by a downward 
revision_in_travel. 






Annual Summary for 2007



Goods and Services

	For 2007, exports of $1,621.8 billion and imports of 
$2,333.4 billion resulted in a goods and services deficit 
of $711.6 billion, $46.9 billion less than the 2006 deficit 
of $758.5 billion.  For goods, exports were $1,149.3 
billion and imports were $1,964.9 billion, resulting in a 
goods deficit of $815.6 billion, $22.7 billion less than 
the 2006 deficit of $838.3 billion.  For services, exports 
were $472.5 billion and imports were $368.5 billion, 
resulting in a services surplus of $104.0 billion, $24.2 
billion more than the 2006 surplus of $79.7 billion.

	The goods and services deficit was $711.6 billion in 
2007, down from $758.5 billion in 2006.  As a 
percentage of U.S. gross domestic product, the goods 
and services deficit was 5.1 percent in 2007, down from 
5.7 percent in 2006.

Goods

	For 2007, on a Census basis, exports of goods were 
up $126.7 billion from 2006.  Increases occurred in 
industrial supplies and materials ($39.6 billion); capital 
goods ($32.1 billion); foods, feeds, and beverages ($18.2 
billion); consumer goods ($16.4 billion); automotive 
vehicles, parts, and engines ($13.8 billion); and other 
goods ($6.6 billion).

	For 2007, on a Census basis, imports of goods were 
up $99.7 billion from 2006.  Increases occurred in 
consumer goods ($32.3 billion); industrial supplies and 
materials ($28.9 billion); capital goods ($26.6 billion); 
foods, feeds, and beverages ($6.8 billion); other goods 
($2.9 billion); and automotive vehicles, parts, and 
engines ($2.3 billion).
	
Services

For 2007, exports of services were $472.5 billion, 
up $49.9 billion from 2006.  Increases occurred in other 
private services ($22.8 billion), which includes items 
such as business, professional, and technical services, 
insurance services, and financial services; travel ($12.1 
billion); royalties and license fees ($8.1 billion); other 
transportation ($5.3 billion), which includes freight and 
port services; and passenger fares ($2.7 billion).  A 
decrease occurred in transfers under U.S. military sales 
contracts ($1.2 billion).  U.S. Government miscellaneous 
services were virtually unchanged. 








 
For 2007, imports of services were $368.5 billion, 
up $25.7 billion from 2006.  Increases occurred in other 
private services ($15.3 billion); travel ($4.3 billion); 
other transportation ($1.9 billion); royalties and license 
fees ($1.6 billion); direct defense expenditures ($1.5 
billion); and passenger fares ($1.0 billion).  U.S. 
Government miscellaneous services were virtually 
unchanged.   

	For detailed descriptions of the types of transactions 
included in each of the services categories, see 
"Information on Goods and Services" starting on page 
29 of this release.





	TABLE OF CONTENTS
 

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 Averages. . . . . . .

5
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 Category . . . . . . . . . . . . . . . . . . . .

9
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 Category . . . . . . . . . . . . . . . . . . . .

18
Exhibit 14
Exports, Imports, and Balance of Goods by Selected Countries and Areas. . . . . . . . . . . .

19
Exhibit 15
Exports and Imports of Goods by Principal SITC Commodities. . . . . . . . . . . . . . . . . . . .

21
Exhibit 16
Exports, Imports, and Balance of Advanced Technology Products. . . . . . . . . . . . . . . . . .

23
Exhibit 16a
Exports, Imports, and Balance of Advanced Technology Products by Technology
Group and Selected Countries and Areas. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .


24
Exhibit 17
Imports of Energy-Related Petroleum Products, Including Crude Oil . . . . . . . . . . . . . . .

25
Exhibit 18
Exports and Imports of Motor Vehicles and Parts by Selected Countries. . . . . . . . . . . . .

26
Information on Goods and Services.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
27



Notice


Change to FT-900 Exhibit 18

Effective with the January 2008 U.S. International Trade in Goods and Services release on March 11, 
2008, Exhibit 18  Exports and Imports of Motor Vehicles and Parts by Selected Countries will be 
revised.  The composition of the three product groups will be aligned to better match the Bureau of 
Economic Analysis' End-Use classification.  New headings will read: Passenger Cars; Trucks, Buses, 
Special Purpose Vehicles; and Parts.

Changes to Country Groupings and Areas

Effective with the January 2008 U.S. International Trade in Goods and Services release on March 11, 
2008, country groupings and areas will be revised to reflect changes for the Euro area and OPEC as 
specified below.  

Euro Area 
Cyprus and Malta will be added to the Euro area in exhibit 14 of the FT-900 report and exhibit 6 of the 
FT-900 supplement.  These changes take effect with the January 2008 statistics.  The statistics for 
prior time periods remain unchanged.


OPEC  
In December 2007, Ecuador was reinstated as a member of OPEC.  Ecuador will be added to OPEC in 
exhibit 14 of the FT-900 report and exhibits 3 and 6 of the FT-900 supplement.  These changes take 
effect beginning with the revised December 2007 statistics.  The statistics for prior time periods 
remain unchanged.
 
 
 
 




NOTE:  Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis.  For 
information on data sources and definitions, see the information section on page 27 of this release, or at www.census.gov/ft900 or 
www.bea.gov/bea/di/home/trade.htm.  The next FT-900 release is March 11, 2008.
NOTE:  Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis.  For 
information on data sources and definitions, see the information section on page 29 of this release, or at www.census.gov/ft900 or 
www.bea.gov/bea/di/home/trade.htm.  The next FT-900 release is March 11, 2008.
2

Scheduled release dates through February 2009 are located on page 33
2

Scheduled release dates through February 2009 are located on page 31

			3


			
