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, JULY 11, 2008

For information on goods contact:
U.S. Census Bureau:
Nick Orsini
301-763-6959
Maria Iseman
301-763-2311

For information on services contact:
U.S. Bureau of Economic Analysis:
Technical:  Christopher Bach
202-606-9545
Media:       Ralph Stewart
202-606-2649

CB08-104, BEA08-33, FT-900 (08-05)

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
May 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 May exports of 
$157.5 billion and imports of $217.3 billion resulted in a 
goods and services deficit of $59.8 billion, down from 
$60.5 billion in April, revised.  May exports were $1.4 
billion more than April exports of $156.2 billion.  May 
imports were $0.7 billion more than April imports of 
$216.7 billion.

In May, the goods deficit decreased $0.5 billion 
from April to $72.5 billion, and the services surplus 
increased $0.2 billion to $12.7 billion.  Exports of goods 
increased $0.8 billion to $110.8 billion, and imports of 
goods increased $0.3 billion to $183.3 billion.  Exports 
of services increased $0.6 billion to $46.7 billion, and 
imports of services increased $0.4 billion to $34.0 
billion.

In May, the goods and services deficit increased 
$0.4 billion from May 2007.  Exports were up $23.9 
billion, or 17.8 percent, and imports were up $24.2 
billion, or 12.5 percent.

Goods

The April to May change in exports of goods 
reflected increases in industrial supplies and materials

($1.2 billion) and automotive vehicles, parts, and 
engines ($0.2 billion).  Decreases occurred in capital 
goods ($0.6 billion); foods, feeds, and beverages ($0.2 
billion); and other goods ($0.1 billion).  Consumer 
goods were virtually unchanged.
 
     The April to May change in imports of goods 
reflected increases in consumer goods ($1.5 billion); 
capital goods ($0.7 billion); and foods, feeds, and 
beverages ($0.3 billion).  Decreases occurred in 
automotive vehicles, parts, and engines ($0.8 billion); 
industrial supplies and materials ($0.3 billion); and 
other goods ($0.2 billion).
 
The May 2007 to May 2008 change in exports of 
goods reflected increases in industrial supplies and 
materials ($8.1 billion); foods, feeds, and beverages 
($3.2 billion); capital goods ($2.8 billion); consumer 
goods ($1.3 billion); other goods ($0.9 billion); and 
automotive vehicles, parts, and engines ($0.4 billion).

The May 2007 to May 2008 change in imports of 
goods reflected increases in industrial supplies and 
materials ($15.1 billion); capital goods ($3.2 billion); 
consumer goods ($2.3 billion); foods, feeds, and 
beverages ($0.9 billion); and other goods ($0.4 billion).  
A decrease occurred in automotive vehicles, parts, and 
engines ($0.1 billion). 

Services
	
	Services exports increased $0.6 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), travel, and 
royalties and license fees.  Changes in other categories 
of services exports were small.
					
	Services imports increased $0.4 billion from April 
to May.  The increase was mostly accounted for by 
increases in other transportation (which includes freight 
and port services), other private services, and travel.  
Changes in other categories of services imports were 
small.
			
	From May 2007 to May 2008, services exports 
increased $6.4 billion.  The largest increases were in 
other private services ($2.5 billion), travel ($1.5 billion), 
royalties and license fees ($1.1 billion), and other 
transportation ($1.0 billion).  Within other private 
services, the largest increase was in business, 
professional, and technical services.
						
	From May 2007 to May 2008, services imports 
increased $2.8 billion.  The largest increases were in 
other private services ($1.2 billion) and travel ($0.5 
billion).  Within other private services, the largest 
increases were in business, professional, and technical 
services and in insurance services.

Goods and Services Moving Average

 
For the three months ending in May, exports of 
goods and services averaged $154.8 billion, while 
imports of goods and services averaged $213.7 billion, 
resulting in an average trade deficit of $58.9 billion.  For 
the three months ending in April, the average trade 
deficit was $59.2 billion, reflecting average exports of 
$153.4 billion and average imports of $212.6 billion.

Selected Not Seasonally Adjusted Goods Details

The May figures showed surpluses, in billions of 
dollars, with Hong Kong $1.4 ($1.4 for April), 
Singapore $1.3 ($1.4), Australia $1.1 ($0.8), and Egypt 
$0.3 ($0.3).  Deficits were recorded, in billions of 
dollars, with China $21.0 ($20.2), OPEC $17.9 ($15.6), 
the European Union $7.9 ($8.5), Mexico $6.6 ($6.8), 
Canada $5.4 ($7.4), Japan $5.0 ($7.6), Venezuela $3.9 
($3.0), Nigeria $3.2 ($3.4), Korea $1.1 ($1.3), and 
Taiwan $0.6 ($0.9).

Advanced technology products (ATP) exports were 
$24.1 billion in May and imports were $27.6 billion, 
resulting in a deficit of $3.5 billion.  May exports were 
$0.7 billion more than the $23.4 billion in April, while 
imports were $1.1 billion less than the $28.7 billion in 
April.

Revisions

	Goods carry-over in May was $0.7 billion (0.6 
percent) for exports and $1.5 billion (0.8 percent) for 
imports.  For April, revised export carry-over was $0.2 
billion (0.2 percent), revised down from $0.4 billion (0.3 
percent).  For April, revised import carry-over was $0.2 
billion (0.1 percent), revised down from $0.8 billion (0.5 
percent).

Services exports for April were revised up $0.1 
billion to $46.1 billion.  The revision was mostly 
accounted for by upward revisions in other 
transportation and passenger fares.  Services imports for 
April were revised down $0.3 billion to $33.6 billion.  
The revision was more than accounted for by downward 
revisions in travel and passenger fares.



	TABLE OF CONTENTS
 

Seasonally Adjusted

Exhibit 1
U.S. International Trade in Goods and Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  

1
Exhibit 2
U.S. International Trade in Goods and Services Three-month Moving Averages. . . . . . .

2
Exhibit 3
U.S. Services by Major Category  Exports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3
Exhibit 4
U.S. Services by Major Category  Imports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4
Exhibit 5
U.S. Trade in Goods. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5
Exhibit 6
Exports and Imports of Goods by Principal End-Use Category . . . . . . . . . . . . . . . . . . . .

6
Exhibit 7
Exports of Goods by End-Use Category and Commodity. . . . . . . . . . . . . . . . . . . . . . . . .

7
Exhibit 8
Imports of Goods by End-Use Category and Commodity. . . . . . . . . . . . . . . . . . . . . . . . .

9
Exhibit 9
Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use 
Category Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .


11
Exhibit 10
Real Exports and Imports of Goods by Principal End-Use Category (2000 Chain-
weighted dollars) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .


12
Exhibit 11
Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use 
Commodity Category Totals (2000 Chain-weighted dollars) . . . . . . . . . . . . . . . . . . . . . . 


13

Not Seasonally Adjusted

Exhibit 12
U.S. Trade in Goods. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

14
Exhibit 13
Exports and Imports of Goods by Principal End-Use Category . . . . . . . . . . . . . . . . . . . .

15
Exhibit 14
Exports, Imports, and Balance of Goods by Selected Countries and Areas. . . . . . . . . . . .

16
Exhibit 15
Exports and Imports of Goods by Principal SITC Commodities. . . . . . . . . . . . . . . . . . . .

18
Exhibit 16
Exports, Imports, and Balance of Advanced Technology Products. . . . . . . . . . . . . . . . . .

20
Exhibit 16a
Exports, Imports, and Balance of Advanced Technology Products by Technology
Group and Selected Countries and Areas. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .


21
Exhibit 17
Imports of Energy-Related Petroleum Products, Including Crude Oil . . . . . . . . . . . . . . .

22
Exhibit 18
Exports and Imports of Motor Vehicles and Parts by Selected Countries. . . . . . . . . . . . .

23
Information on Goods and Services.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

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 April 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 A-1 of this release, or at www.census.gov/ft900 or 
www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm.  The next FT-900 release is August 12, 2008.

Scheduled release dates through December 2008 are located on page A-5







