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 FRIDAY, MARCH 7, 2014

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: Jeffrey Bogen
202-606-9592

Media: Thomas Dail
202-606-2649



CB 14-36, BEA 14-08, FT-900 (14-01)

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
January 2014

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 
January exports of $192.5 billion and imports of $231.6 billion 
resulted in a goods and services deficit of $39.1 billion, up from 
$39.0 billion in December, revised. January exports were $1.2 billion 
more than December exports of $191.3 billion. January imports were 
$1.3 billion more than December imports of $230.3 billion.
    
    In January, the goods deficit increased $0.7 billion from 
December to $59.3 billion, and the services surplus increased $0.5 billion 
from December to $20.2 billion. Exports of goods increased $1.0 billion to 
$133.8 billion, and imports of goods increased $1.7 billion to $193.1 billion. 
Exports of services increased $0.2 billion to $58.7 billion, and imports of 
services decreased $0.4 billion to $38.5 billion.
    
    The goods and services deficit decreased $3.0 billion from January 2013 
to January 2014. Exports were up $5.7 billion, or 3.0 percent, and imports 
were up $2.6 billion, or 1.2 percent.
    
    
Goods (Census Basis)
    
    The December to January increase in exports of goods reflected increases 
in industrial supplies and materials ($1.2 billion), capital goods ($0.4 billion), 
and consumer goods ($0.2 billion). Decreases occurred in foods, feeds, and 
beverages ($0.8 billion); other goods ($0.3 billion); and automotive vehicles, 
parts, and engines ($0.2 billion).

   The December to January increase in imports of goods reflected increases in 
industrial supplies and materials ($3.7 billion); capital goods ($0.3 billion); 
and foods, feeds, and beverages ($0.2 billion). Decreases occurred in 
automotive vehicles, parts, and engines ($1.4 billion); consumer goods ($1.0 billion); 
and other goods ($0.1 billion).
   
   The January 2013 to January 2014 increase in exports of goods reflected 
increases in industrial supplies and materials ($2.5 billion); capital goods 
($0.3 billion); and foods, feeds, and beverages ($0.3 billion). Decreases 
occurred in other goods ($0.3 billion) and consumer goods ($0.2 billion). 
Automotive vehicles, parts, and engines was virtually unchanged.      
   
   The January 2013 to January 2014 increase in imports of goods reflected 
increases in capital goods ($1.9 billion); automotive vehicles, parts, and 
engines ($1.3 billion);  foods, feeds, and beverages ($0.5 billion); 
and consumer goods ($0.3 billion). Decreases occurred in industrial supplies 
and materials ($2.9 billion) and other goods ($0.2 billion).
    
    
Services

    Exports of services increased $0.2 billion from December to January.  
Increases in other private services ($0.3 billion), which includes items such 
as business, professional, and technical services, insurance services, and 
financial services, and in royalties and license fees ($0.1 billion) were 
partly offset by decreases in passenger fares ($0.1 billion), in travel ($0.1 billion), 
and in other transportation ($0.1 billion) which includes freight and port services. 
Changes in the other categories of services exports were relatively small.
    
    Imports of services decreased $0.4 billion from December to January.  
The decrease was more than accounted for by decreases in travel ($0.2 billion) 
and in passenger fares ($0.2 billion).  Partly offsetting these decreases was an 
increase in other private services ($0.1 billion).  Changes in the other categories 
of services imports were relatively small.
				
    The January 2013 to January 2014 increase in exports of services was 
$2.7 billion or 4.9 percent.  The largest increases were in other private 
services ($1.2 billion), in travel ($0.9 billion), and in royalties and 
license fees ($0.5 billion).  Within other private services, the largest 
increase was in business, professional, and technical services.

    The January 2013 to January 2014 increase in imports of services was 
$1.6 billion or 4.2 percent.  The largest increases were in other private 
services ($1.0 billion), in travel ($0.3 billion), and in passenger fares ($0.3 billion).  
Within other private services, the largest increase was in business, professional, 
and technical services.
    
    
Goods and Services Moving Average

    For the three months ending in January, exports of goods and services 
averaged $192.8 billion, while imports of goods and services averaged $230.6 billion, 
resulting in an average trade deficit of $37.7 billion. For the three months ending in December, 
the average trade deficit was $38.0 billion, reflecting average exports of $193.0 billion 
and average imports of $231.0 billion.


Selected Not Seasonally Adjusted Goods Details
    
    The January figures show surpluses, in billions of dollars, with 
Hong Kong $3.9 ($3.3 for December), Singapore $1.6 ($1.2), Australia $1.4 ($1.6), 
and Brazil $1.2 ($1.5). Deficits were recorded, in billions of dollars, with 
China $27.8 ($24.5), European Union $8.8 ($11.3), OPEC $7.0 ($4.0), Japan $5.3 ($6.0), 
Germany $5.2 ($5.9), Canada $4.1 ($3.4), Saudi Arabia $3.9 ($2.8), Mexico $2.8 ($4.2), 
Venezuela $2.3 ($1.6), India $2.1 ($1.5), South Korea $1.9 ($0.8), and Ireland $1.7 ($1.8).
 
    Advanced technology products exports were $25.3 billion in January and imports were $30.0 billion, 
resulting in a deficit of $4.7 billion. January exports were $2.9 billion less than the $28.2 billion 
in December, while January imports were $4.2 billion less than the $34.2 billion in December.
    
    
Revisions 

    For all months in 2013, the seasonally adjusted goods data, on both a Census basis and 
a balance of payments basis, and the seasonally adjusted services data were revised so that 
the totals of the seasonally adjusted months equal the annual totals.


Census Basis (not seasonally adjusted)
    
    For December, exports of goods were revised up $0.1 billion and imports of goods were revised 
down $0.1 billion. Goods carry-over in January was $0.3 billion (0.3 percent) for exports and 
$1.8 billion (1.0 percent) for imports. For December, revised export carry-over was virtually zero, 
while revised import carry-over was $0.2 billion (0.1 percent).


Balance of Payments Basis (seasonally adjusted)
    
    For July through December 2013, exports and imports of goods and services were revised to 
incorporate more comprehensive and updated quarterly and monthly data.
   
    For December, exports of goods were virtually unrevised and imports of goods were revised 
down $0.2 billion. 
   
    For December, exports of services were virtually unrevised as upward revisions in other 
private services and in other transportation were largely offset by downward revisions in royalties 
and license fees and in transfers under U.S. military sales contracts.  For December, imports of 
services were revised up $0.4 billion, mostly reflecting an upward revision in other private services.
    


NOTICE

Seasonally Adjusted Countries and Areas
Beginning with this release, the U.S. International Trade in Goods and Services report (FT-900) 
includes a new exhibit (Exhibit 19) that presents monthly and quarterly seasonally adjusted trade 
in goods on a Census basis for selected major trading partner countries and areas. Historical data 
beginning with January 2012 and more information are available at www.census.gov/foreign-trade/statistics/country/.

With the release of April 2014 statistics on June 4, 2014, the FT-900 will include an additional 
new exhibit that presents quarterly seasonally adjusted trade in goods and services on a balance of 
payments basis for the same countries and areas. An example of this exhibit will be made available 
at a later date.

If you have questions or need additional information, please contact the Data Dissemination Branch 
of the U.S. Census Bureaus Foreign Trade Division on (301) 763-2311 or at ftd.data.dissemination@census.gov.

Entry of Latvia into the Euro Area

Beginning with this release, the Euro Area includes Latvia, which joined on January 1, 2014. 
This change affects Exhibit 14 of the FT-900 and Exhibit 6 of the FT-900 Supplement.

Upcoming Profile Changes

With the release of the final report "A Profile of U.S. Importing and Exporting Companies, 2011 - 2012" 
on April 3, 2014, the company North American Industry Classification System (NAICS) category Other Companies 
will be combined with the category Unclassified Companies. Combining these into a single category will 
improve the published data on company type and employment size in Exhibits 1, 3, and 4 of the report. 
More data can be shown because fewer cells will require suppression.

If you have questions or need additional information, please contact the Special Projects Branch of the 
U.S. Census Bureaus Foreign Trade Division on (301) 763-3629 or at ftd.profile.list@census.gov.

Upcoming Revisions to Goods and Services and Comprehensive Restructuring of the International Accounts

On June 4, 2014, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) will release 
"U.S. International Trade in Goods and Services: April 2014" and "U.S. International Trade in Goods 
and Services: Annual Revision for 2013." With these releases, statistics on trade in goods on a 
Census basis will be revised beginning with 2011, and statistics on trade in goods on a balance 
of payments (BOP) basis and on trade in services will be revised beginning with 1999. The revised 
statistics on trade in goods on a Census basis will reflect corrections and adjustments to previously 
published not seasonally adjusted statistics, minor reclassifications of commodities to end-use categories, 
and recalculated seasonal and trading-day adjustments. The revised statistics on trade in goods on a BOP 
basis and on trade in services will reflect newly available and revised source data, changes in estimation 
methods, and changes in definitions and classifications. The revised statistics will also be included in 
"U.S. International Transactions: First Quarter 2014" and in the annual revision of the U.S. International 
Transactions Accounts (ITAs), both to be released by BEA on June 18, 2014.

With this years annual revision, BEA will also introduce a new presentation of the ITAs, including a 
new presentation of services, as part of a comprehensive restructuring of BEAs international economic 
accounts. This change in presentation, combined with the changes in definitions and classifications, 
will bring the statistics into closer alignment with international guidelines. Additional information on 
BEAs comprehensive restructuring of the international accounts will appear in the March 2014 issue of 
the Survey of Current Business, which BEA will release in mid-March. Changes that will impact the 
"U.S. International Trade in Goods and Services" release are discussed below.


  Goods on a BOP Basis

Net exports of goods under merchanting, which are currently included in trade in services under other private services, 
will be reclassified to goods through a new BOP adjustment. These net exports reflect the net value of goods that are 
purchased and subsequently sold abroad without entering the United States. Because these goods dont cross the U.S. 
customs frontier, their value is not recorded in the data for goods on a Census basis. BOP adjustments-adjustments 
that BEA applies to goods on a Census basis to convert them to a BOP basis-are presented as net adjustments in this release.


  Services

The services categories shown in Exhibits 3 and 4 will change, and the number of services categories will 
increase from seven to nine. The new categories will be: maintenance and repair services n.i.e. (not included elsewhere); 
transport; travel (for all purposes including education); insurance services; financial services; charges for the use 
of intellectual property n.i.e.; telecommunications, computer, and information services; other business services; 
and government goods and services n.i.e. 

The current category other transportation will be renamed transport and will include passenger fares, 
which will no longer be shown as a separate category. Royalties and license fees will be renamed charges 
for the use of intellectual property n.i.e. Transfers under U.S. military agency sales contracts (for exports), 
direct defense expenditures (for imports), and U.S. government miscellaneous services (for exports and imports) 
will be moved to government goods and services n.i.e. The definition of travel will be broadened to include 
health-related and education-related travel and the expenditures on goods and services by border, seasonal, 
and other short-term workers, all of which are currently included in other private services. To distinguish 
it from the current measure, the new measure will be called travel (for all purposes including education).  
Maintenance and repair services n.i.e., financial services, and insurance services, all of which are currently 
included in other private services, will be shown as separate categories. Other business services will consist 
of the remaining components of other private services.

Examples of the new presentation for Exhibits 3 and 4 are available at
www.bea.gov/newsreleases/international/trade/2014/xls/trad0114_prototype.xls. 
If you have questions or need additional information, please contact BEAs Balance of Payments 
Division at InternationalAccounts@bea.gov.

Table of Contents
Part A: Seasonally Adjusted (by Commodity/Service)

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 - Chained (2009) Dollars 


12
Exhibit 11
Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use Commodity Category Totals - Chained (2009) Dollars  


13
Part B: 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 14a
Exports, Imports, and Balance of Goods by Selected Countries and Areas

17
Exhibit 15
Exports and Imports of Goods by Principal 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
Part C: Seasonally Adjusted (by Geography)

Exhibit 19
U.S. Trade in Goods by Selected Countries and Areas  Census Basis

24
Information on Goods and Services 
A-1



   

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