
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 3, 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:  Jeannine Aversa
202-606-2649


CB 14-54, BEA 14-15, FT-900 (14-02)


U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
February 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 February 
exports of $190.4 billion and imports of $232.7 billion resulted in 
a goods and services deficit of $42.3 billion, up from $39.3 billion 
in January, revised. February exports were $2.0 billion less than 
January exports of $192.5 billion. February imports were $1.0 billion 
more than January imports of $231.7 billion.
    
    In February, the goods deficit increased $2.2 billion from January 
to $61.7 billion, and the services surplus decreased $0.8 billion from 
January to $19.4 billion. Exports of goods decreased $2.0 billion to 
$131.7 billion, and imports of goods increased $0.2 billion to $193.4 billion. 
Exports of services were virtually unchanged at $58.7 billion, and imports of 
services increased $0.8 billion to $39.3 billion.
    
    The goods and services deficit decreased $1.0 billion from February 2013 
to February 2014. Exports were up $3.6 billion, or 1.9 percent, and 
imports were up $2.6 billion, or 1.1 percent.
    
Goods (Census Basis)
    
    The January to February decrease in exports of goods reflected decreases 
in industrial supplies and materials ($2.7 billion) and capital goods ($0.9 billion). 
Increases occurred in consumer goods ($1.2 billion); other goods ($0.6 billion); 
and automotive vehicles, parts, and engines ($0.1 billion). Foods, feeds, 
and beverages were virtually unchanged.


   The January to February decrease in imports of goods reflected decreases in 
capital goods ($1.2 billion); industrial supplies and materials ($0.3 billion); 
and foods, feeds, and beverages ($0.1 billion). Increases occurred in 
automotive vehicles, parts, and engines ($1.0 billion); consumer goods ($0.1 billion); 
and other goods ($0.1 billion).
   
   Exports of goods were virtually unchanged from February 2013 to February 2014. 
Decreases occurred in industrial supplies and materials ($1.8 billion); 
automotive vehicles, parts, and engines ($0.2 billion); and other goods ($0.1 billion). 
Increases occurred in consumer goods ($1.5 billion); capital goods ($0.3 billion); 
and foods, feeds, and beverages ($0.2 billion). 
   
   
   The February 2013 to February 2014 decrease in imports of goods reflected decreases 
in industrial supplies and materials ($0.9 billion) and consumer goods ($0.9 billion). 
Increases occurred in automotive vehicles, parts, and engines ($0.9 billion); 
capital goods ($0.4 billion); and other goods ($0.1 billion). Foods, feeds, 
and beverages were virtually unchanged.
    
Services

    Exports of services were virtually unchanged from January to February.  
Increases in other private services ($0.1 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 mostly offset by a decrease in 
passenger fares ($0.2 billion).  Changes in the other categories of services 
exports were relatively small.
    
    Imports of services increased $0.8 billion from January to February.  
The increase was mainly accounted for by an increase in royalties and 
license fees ($0.8 billion), which included payments for the rights to broadcast 
the 2014 Winter Olympic Games.  Other private services increased ($0.1 billion).  
Partly offsetting these increases was a decrease in other transportation ($0.1 billion), 
which includes freight and port services.  Changes in the other categories of services 
imports were relatively small.
				
	The February 2013 to February 2014 increase in exports of services was 
$3.0 billion or 5.5 percent.  The largest increases were in other private services 
($1.7 billion), in travel ($0.8 billion), and in royalties and license fees ($0.6 billion).  
Within other private services, the largest increase was in business, professional, 
and technical services.

	The February 2013 to February 2014 increase in imports of services was 
$2.5 billion or 6.7 percent.  The largest increases were in other private services 
($1.4 billion), in royalties and license fees ($0.8 billion), and in travel ($0.3 billion).  
Within other private services, the largest increase was in business, professional, 
and technical services.  The increase in royalties and license fees was mostly 
accounted for by payments for the rights to broadcast the 2014 Winter Olympic Games.
    
Goods and Services Moving Average

    For the three months ending in February, exports of goods and services averaged 
$191.4 billion, while imports of goods and services averaged $231.6 billion, resulting 
in an average trade deficit of $40.2 billion. For the three months ending in January, 
the average trade deficit was $37.8 billion, reflecting average exports of $192.8 billion 
and average imports of $230.6 billion.


Selected Not Seasonally Adjusted Goods Details
    
	The February figures show surpluses, in billions of dollars, with Hong Kong $2.9 
($3.9 for January), Australia $1.4 ($1.4), Singapore $1.3 ($1.6), and Brazil $1.2 ($1.2). 
Deficits were recorded, in billions of dollars, with China $20.9 ($27.8), 
European Union $9.1 ($8.8), OPEC $5.7 ($7.0), Japan $5.3 ($5.3), Germany $4.5 ($5.2), 
Mexico $4.0 ($2.8), Saudi Arabia $3.2 ($3.9), Canada $1.9 ($4.0), Ireland $1.9 ($1.7), 
Venezuela $1.8 ($2.3), India $1.7 ($2.1), and South Korea $1.0 ($1.9).
 
    Advanced technology products exports were $24.3 billion in February and 
imports were $27.6 billion, resulting in a deficit of $3.2 billion. February exports 
were $1.0 billion less than the $25.3 billion in January, while February imports 
were $2.4 billion less than the $30.0 billion in January.
    
Revisions 

Census Basis (not seasonally adjusted)
    
    For January, exports of goods were virtually unrevised and imports of goods were 
revised up $0.1 billion. Goods carry-over in February was $0.2 billion (0.1 percent) 
for exports and $1.8 billion (1.1 percent) for imports. For January, revised export 
carry-over was $0.1 billion (0.1 percent), while revised import carry-over was 
$0.3 billion (0.2 percent).

Balance of Payments Basis (seasonally adjusted)
    
    For January, exports of goods were virtually unrevised, and imports of goods 
were revised up $0.1 billion.
    
    For January, exports and imports of services were virtually unrevised.
    

NOTICE

Profile of U.S. Importing and Exporting Companies

Along with this release, the U.S. Census Bureau has published the final report 
A Profile of U.S. Importing and Exporting Companies, 2011  2012. Effective with 
this final report, available at www.census.gov/foreign-trade/Press-Release/edb/2012/, 
the North American Industry Classification System (NAICS) company-type category Other 
Companies has been combined with the category Unclassified Companies. Combining these 
into a single category improves 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 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 Economic 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 
was presented in the March 2014 Survey of Current Business, and preview table templates for the 
restructured presentation of the ITAs are available at 
www.bea.gov/iTable/iTable.cfm?ReqID=62&step=1#reqid=62&step=1&isuri=1. 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 adjustmentsadjustments that 
BEA applies to goods on a Census basis to convert them to a BOP basisare combined and presented 
as net adjustments in this release.

Services

The services categories shown in Exhibits 3 and 4 will change, and the number of 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 become part of 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: 2014	16
Exhibit 14a	Exports, Imports, and Balance of Goods by Selected Countries and Areas: 2013	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: 2014	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









