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. EDT FRIDAY, MAY 9, 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



CB08-77, BEA08-20, FT-900 (08-03)

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
March 2008




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 
$148.5 billion and imports of $206.7 billion resulted in a 
goods and services deficit of $58.2 billion, down from 
$61.7 billion in February, revised.  March exports were 
$2.6 billion less than February exports of $151.1 billion.  
March imports were $6.1 billion less than February 
imports of $212.8 billion.

In March, the goods deficit decreased $3.5 billion 
from February to $68.6 billion, and the services surplus 
was virtually unchanged at $10.4 billion. Exports of 
goods decreased $2.5 billion to $104.7 billion, and 
imports of goods decreased $6.0 billion to $173.3 
billion.  Exports of services were virtually unchanged at 
$43.8 billion, and imports of services decreased $0.1 
billion to $33.4 billion.

In March, the goods and services deficit decreased 
$4.8 billion from March 2007.  Exports were up $20.0 
billion, or 15.5 percent, and imports were up $15.1 
billion, or 7.9 percent.

Goods

The February to March change in exports of goods 
reflected decreases in capital goods ($1.2 billion); 
automotive vehicles, parts, and engines ($1.0 billion); 
consumer goods ($0.7 billion); other goods ($0.2 
billion); and industrial supplies and materials ($0.1 
billion).  An increase occurred in foods, feeds, and 
beverages ($0.3 billion).
 
     The February to March change in imports of goods 
reflected decreases in automotive vehicles, parts, and 
engines ($2.1 billion); industrial supplies and materials 
($2.0 billion); consumer goods ($1.1 billion); capital 
goods ($0.8 billion); and foods, feeds, and beverages 
($0.1 billion).  An increase occurred in other goods ($0.2 
billion).
 
The March 2007 to March 2008 change in exports of 
goods reflected increases in industrial supplies and 
materials ($6.9 billion); foods, feeds, and beverages 
($3.5 billion); capital goods ($2.6 billion); and consumer 
goods ($0.7 billion).  Decreases occurred in automotive 
vehicles, parts, and engines ($0.3 billion) and other 
goods ($0.3 billion).

The March 2007 to March 2008 change in imports 
of goods reflected increases in industrial supplies and 
materials ($11.9 billion); capital goods ($1.5 billion); 
other goods ($0.5 billion); and foods, feeds, and 
beverages ($0.3 billion).  Decreases occurred in 
automotive vehicles, parts, and engines ($1.8 billion) 
and consumer goods ($0.9 billion).

Services
	
	Services exports were virtually unchanged from 
February to March.  A decrease in transfers under U.S. 
military sales contracts (which includes support services 
and related equipment) was partly offset by increases in 
other private services (which includes items such as 
business, professional, and technical services, insurance 
services, and financial services) and royalties and 
license fees.  Changes in other categories of services 
exports were small and nearly offsetting.

	Services imports decreased $0.1 billion from 
February to March.  The decrease was more than 
accounted for by a decrease in other transportation 
(which includes freight and port services).  An increase 
in other private services was partly offsetting.  Changes 
in other categories of services imports were small. 
									
	From March 2007 to March 2008, services exports 
increased $6.0 billion.  The largest increases were in 
other private services ($2.5 billion), travel ($1.7 billion), 
royalties and license fees ($0.9 billion), and other 
transportation ($0.7 billion).  Within other private 
services, increases were largest in business, professional, 
and technical services and in financial services.  

	From March 2007 to March 2008, services imports 
increased $3.6 billion.  The largest increases were in 
other private services ($2.0 billion), travel ($0.4 billion), 
and passenger fares ($0.4 billion).  Within other private 
services, increases were largest in insurance services and 
in business, professional, and technical services.

Goods and Services Moving Average

 
For the three months ending in March, exports of 
goods and services averaged $149.3 billion, while 
imports of goods and services averaged $209.0 billion, 
resulting in an average trade deficit of $59.6 billion.  For 
the three months ending in February, the average trade 
deficit was $59.5 billion, reflecting average exports of 
$148.4 billion and average imports of $208.0 billion.


Selected Not Seasonally Adjusted Goods Details

The March figures showed surpluses, in billions of 
dollars, with Australia $1.5 ($1.2 for February), 
Singapore $1.5 ($1.1), Hong Kong $1.2 ($1.2), and 
Egypt $0.4 ($0.4).  Deficits were recorded, in billions of 
dollars, with China $16.1 ($18.4), OPEC $14.1 ($13.2), 
Japan $7.5 ($6.9), the European Union $7.5 ($6.9), 
Canada $6.5 ($6.5), Mexico $6.0 ($5.5), Nigeria $3.3 
($2.9), Venezuela $2.8 ($2.6), Korea $0.8 ($1.1), and 
Taiwan $0.3 ($0.7).

Advanced technology products (ATP) exports were 
$24.7 billion in March and imports were $27.9 billion, 
resulting in a deficit of $3.3 billion.  March exports were 
$2.4 billion more than the $22.3 billion in February, 
while imports were $2.3 billion more than the $25.6 
billion in February.

Revisions

	Goods carry-over in March was $0.4 billion (0.3 
percent) for exports and $0.8 billion (0.5 percent) for 
imports.  For February, revised export carry-over was 
$0.1 billion (0.1 percent), revised down from $0.4 billion 
(0.4 percent).  For February, revised import carry-over 
was $0.3 billion (0.2 percent), revised down from $1.7 
billion (1.0 percent).

	Services exports for February were revised down 
$0.2 billion to $43.8 billion.  The revision was mostly 
accounted for by a downward revision in travel.  
Services imports for February were virtually unchanged 
at $33.4 billion.	
	



	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

 
 
 
 




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 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 June 10, 2008.

			

Scheduled release dates through December 2008 are located on page 31


