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 THURSDAY, APRIL 12, 2012

For information on goods contact:
U.S. Census Bureau:
Matthew Przybocki
301-763-3148
Maria Iseman
301-763-2311

For information on services contact:
U.S. Bureau of Economic Analysis:
Technical:  Edward Dozier
202-606-9559
Media: Ralph Stewart
202-606-2649



CB12-59, BEA12-13, FT-900 (12-02)

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
February 2012


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 February exports of $181.2 billion 
and imports of $227.2 billion resulted in a goods and services 
deficit of $46.0 billion, down from $52.5 billion in January, 
revised.  February exports were $0.2 billion more than January 
exports of $180.9 billion.  February imports were $6.3 billion 
less than January imports of $233.4 billion.
    
    In February, the goods deficit decreased $6.0 billion from 
January to $61.4 billion, and the services surplus increased 
$0.5 billion from January to $15.4 billion.  Exports of goods 
decreased $0.6 billion to $128.0 billion, and imports of goods 
decreased $6.5 billion to $189.4 billion.  Exports of services 
increased $0.8 billion to $53.2 billion, and imports of services 
increased $0.2 billion to $37.8 billion.
    
    The goods and services deficit increased $0.6 billion from 
February 2011 to February 2012.  Exports were up $15.4 
billion, or 9.3 percent, and imports were up $16.1 billion, or 
7.6 percent.
    
Goods (Census Basis)
    
    The January to February decrease in exports of goods 
reflected decreases in automotive vehicles, parts, and engines 
($0.8 billion); foods, feeds, and beverages ($0.5 billion); and 
industrial supplies and materials ($0.1 billion). Increases 
occurred in other goods ($0.5 billion) and consumer goods 
($0.3 billion). Capital goods were virtually unchanged.
      
 
 

   The January to February decrease in imports of goods 
reflected decreases in consumer goods ($2.7 billion); 
industrial supplies and materials ($1.5 billion); automotive 
vehicles, parts, and engines ($1.0 billion); foods, feeds, and 
beverages ($0.6 billion); and capital goods ($0.4 billion).  An 
increase occurred in other goods ($0.1 billion). 
   
   The February 2011 to February 2012 increase in exports 
of goods reflected increases in capital goods ($4.3 billion); 
industrial supplies and materials ($3.3 billion); automotive 
vehicles, parts, and engines ($2.0 billion); other goods ($0.9 
billion); and consumer goods ($0.9 billion).  A decrease 
occurred in foods, feeds, and beverages ($0.6 billion).  
   
   
   
   
   The February 2011 to February 2012 increase in imports 
of goods reflected increases in industrial supplies and 
materials ($5.9 billion); capital goods ($4.6 billion); 
automotive vehicles, parts, and engines ($4.0 billion); other 
goods ($1.1 billion); and foods, feeds, and beverages ($0.4 
billion).  A decrease occurred in consumer goods ($3.3 
billion).
    
Services

    Exports of services increased $0.8 billion from January to 
February.  The increase was mostly accounted for by increases 
in travel, 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 the other categories of services exports were 
small.
    
	Imports of services increased $0.2 billion from January to 
February.  The increase was more than accounted for by 
increases in travel, other private services, and passenger fares.  
A decrease in other transportation (which includes freight and 
port services) was partly offsetting.  Changes in the other 
categories of services imports were small.
				
	The February 2011 to February 2012 increase in exports 
of services was $4.8 billion.  The largest increases were in 
royalties and license fees ($1.7 billion), other private services 
($1.2 billion), and travel ($1.2 billion).  Within other private 
services, the largest increases were in financial services and in 
business, professional, and technical services.

	The February 2011 to February 2012 increase in imports 
of services was $3.5 billion.  The largest increases were in 
other private services ($2.1 billion) and travel ($0.6 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 February, exports of goods 
and services averaged $180.1 billion, while imports of goods 
and services averaged $229.8 billion, resulting in an average 
trade deficit of $49.7 billion.  For the three months ending in 
January, the average trade deficit was $50.2 billion, reflecting 
average exports of $178.9 billion and average imports of 
$229.1 billion.
 

Selected Not Seasonally Adjusted Goods Details
    
    The February figures show surpluses, in billions of 
dollars, with Hong Kong $3.1 ($2.1 for January), Australia 
$1.7  ($1.6),   Singapore  $0.7  ($0.8),  and  Egypt $0.2  ($0.2).      
    
    
    
Deficits were recorded, in billions of dollars, with China $19.4 
($26.0), Japan $7.0 ($6.2), OPEC $6.4 ($10.0), European 
Union $5.9 ($8.5), Mexico $5.8 ($4.2), Germany $3.6 ($4.1), 
Canada $2.8 ($4.9), Ireland $2.2 ($2.3), Venezuela $1.9 
($2.0), Nigeria $0.9 ($1.3), Taiwan $0.8 ($1.3), and Korea 
$0.4 ($1.4).
    
    Advanced technology products exports were $23.3 billion 
in February and imports were $29.2 billion, resulting in a 
deficit of $5.8 billion.  February exports were $0.9 billion 
more than the $22.5 billion in January, while February imports 
were virtually unchanged from January.
    
Revisions  

Census Basis (not seasonally adjusted)
    
    For January, exports of goods were virtually unrevised 
and imports of goods were revised down $0.1 billion.  Goods 
carry-over in February was $0.1 billion (0.1 percent) for 
exports and $1.1 billion (0.7 percent) for imports.  For 
January, revised export carry-over was $0.2 billion (0.2 
percent).  For January, revised import carry-over was $0.2 
billion (0.1 percent).

Balance of Payments Basis (seasonally adjusted)
    
    For January, exports of goods were virtually unrevised 
and imports of goods were revised down $0.2 billion.  
    
    For January, exports of services were revised up $0.2 
billion and imports of services were revised up $0.3 billion.  
The revisions to both exports and imports of services mostly 
reflects upward revisions in travel and passenger fares.              


NOTICE

Changes to End-Use Commodity Classification

Effective with the January 2012 statistics, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis 
(BEA) have revised the classification of several end-use commodities.  These changes were made to achieve a 
consistent classification between exports and imports and to improve the grouping of the commodities based on 
their end-use characteristics.  These changes also reflect the results of work performed by the World Customs 
Organization (WCO) as part of its long-term program to review the nomenclature of the international 
Harmonized System from which the end-use commodity classifications are derived.  The last WCO 
modifications to the Harmonized System were introduced in March 2007 with the January 2007 statistics.

For both exports and imports, the most significant reclassifications involved various semiconductor media, such 
as smart cards and flash memory cards, which have been reassigned from consumer goods and industrial 
supplies and materials to semiconductors and related devices within capital goods.  In addition, for imports, 
electronic book devices and batteries used to power vehicles have been reassigned from capital goods to 
consumer goods and automotive vehicles, parts, and engines, respectively.

Upcoming Revisions to Goods and Services

On June 8, 2012, the U.S. Census Bureau and BEA will release U.S. International Trade in Goods and 
Services: April 2012 and U.S. International Trade in Goods and Services: Annual Revision for 2011.  With 
these releases, statistics on trade in goods, on both a Census basis and a balance of payments (BOP) basis, and 
statistics on trade in services will be revised beginning with 2009.  The revised statistics on trade in goods will 
reflect reclassifications of several end-use commodities (see above), as well as recalculated seasonal and 
trading-day adjustments.  The revised statistics on goods on a BOP basis and on services will also appear in 
U.S. International Transactions: First Quarter 2012 and in the annual revision of the U.S. international 
transactions accounts (ITAs), both to be released by BEA on June 14, 2012.  In addition to the changes 
mentioned above, BEAs annual revision of the ITAs will reflect newly available and more complete source 
data and minor improvements to estimation methodologies.

Profile of U.S. Importing and Exporting Companies, 2009  2010

On April 12, 2012 the U.S. Census Bureau, Foreign Trade Division will release the report, A Profile of U.S. 
Importing and Exporting Companies 2009-2010.  The Profile is created from import and export merchandise 
trade data and company characteristics contained in the Census Bureaus Business Register. The Profile 
provides government and private sector data users with information on the characteristics of companies 
involved in trade including employment size, type of company, and major foreign markets. 

This year, the report contains two new export exhibits:
 Exhibit 7a - 2010 Exports by 3-Digit North American Industry Classification System (NAICS) code for Small 
and Medium Sized Companies
 Exhibit 7b - 2009 Exports by 3-Digit NAICS code for Small and Medium Sized Companies



Table of Contents

Seasonally Adjusted

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

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

Exhibit 3
U.S. Services by Major Category  Exports

Exhibit 4
U.S. Services by Major Category  Imports

Exhibit 5
U.S. Trade in Goods

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

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

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

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

Exhibit 10
Real Exports and Imports of Goods by Principal End-Use Category - Chained (2005) 
Dollars 

Exhibit 11
Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use 
Commodity Category Totals - Chained (2005) Dollars  


Not Seasonally Adjusted

Exhibit 12
U.S. Trade in Goods 

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

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

Exhibit 15
Exports and Imports of Goods by Principal SITC Commodities 

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

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

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

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

Information on Goods and Services






