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, JULY 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 14-126, BEA 14-32, FT-900 (14-05)

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES

May 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 May exports of $195.5 billion and 
imports of $239.8 billion resulted in a goods and services 
deficit of $44.4 billion, down from $47.0 billion in April,  
revised. May exports were $2.0 billion more than April 
exports of $193.5 billion. May imports were $0.7 billion less 
than April imports of $240.5 billion.
    
    In May, the goods deficit decreased $2.4 billion from 
April  to $63.3 billion, and the services surplus increased $0.3 
billion from April to $18.9 billion. Exports of goods increased 
$1.6 billion to $136.7 billion, and imports of goods decreased 
$0.7 billion to $200.0 billion. Exports of services increased 
$0.3 billion to $58.8 billion, and imports of services were 
virtually unchanged.
    
    The goods and services deficit decreased $0.4 billion 
from May 2013 to May 2014. Exports were up $8.3 billion, or 
4.4 percent, and imports were up $7.8 billion, or 3.4 percent.
    
Goods (Census Basis)
    
    The April to May increase in exports of goods reflected 
increases in automotive vehicles, parts, and engines ($0.8 
billion); other goods ($0.5 billion); consumer goods ($0.4 
billion); industrial supplies and materials ($0.2 billion); and 
foods, feeds, and beverages ($0.1 billion).  A decrease 
occurred in capital goods ($0.2 billion).
 

   The April to May decrease in imports of goods reflected 
decreases in industrial supplies and materials ($1.7 billion); 
other goods ($0.7 billion); consumer goods ($0.5 billion); and 
foods, feeds, and beverages ($0.2 billion). Increases occurred 
in automotive vehicles, parts, and engines ($1.3 billion) and 
capital goods ($1.0 billion).
   
   The May 2013 to May 2014 increase in exports of goods 
reflected increases in foods, feeds, and beverages ($1.7 
billion); industrial supplies and materials ($1.4 billion); 
consumer goods ($1.1 billion); other goods ($0.8 billion); 
capital goods ($0.8 billion); and automotive vehicles, parts, 
and engines($0.5 billion).
   
   
   
   The May 2013 to May 2014 increase in imports of goods 
reflected increases in capital goods ($4.0 billion); automotive 
vehicles, parts, and engines ($2.4 billion); consumer goods 
($1.4 billion); and  foods, feeds, and beverages ($0.7 billion). 
Decreases occurred in industrial supplies and materials ($1.5 
billion) and other goods ($0.8 billion). 
    
Services

   Exports of services increased $0.3 billion from April to 
May. The increase was mostly accounted for by increases in 
travel (for all purposes including education) ($0.2 billion) and 
in transport ($0.1 billion), which includes freight and port 
services and passenger fares. Changes in the other categories 
of services exports were relatively small.
 
   Imports of services were virtually unchanged from April 
to May. Changes in all categories of services imports were 
small and mostly offsetting.
				
	The May 2013 to May 2014 increase in exports of services 
was $1.9 billion or 3.3 percent. The largest increases were in 
travel (for all purposes including education) ($1.0 billion), in 
maintenance and repair services ($0.4 billion), and in 
transport ($0.3 billion).  

	The May 2013 to May 2014 increase in imports of 
services was $1.5 billion or 3.9 percent. The largest increases 
were in other business services ($0.7 billion), in travel (for all 
purposes including education) ($0.6 billion), and in transport 
($0.4 billion).
    
Goods and Services Moving Average

    For the three months ending in May, exports of goods and 
services averaged $194.2 billion, while imports of goods and 
services averaged $239.4 billion, resulting in an average trade 
deficit of $45.2 billion. For the three months ending in April, 
the average trade deficit was $44.6 billion, reflecting average 
exports of $191.8 billion and average imports of $236.4 
billion.
    
 
Selected Not Seasonally Adjusted Goods Details
    
    The May figures show surpluses, in billions of dollars, 
with Hong Kong $2.5 ($2.7 for April), Australia $1.2 ($1.4), 
Brazil $1.1 ($1.1), and Singapore $1.0 ($0.9). Deficits were 
recorded, in billions of dollars, with China $28.8 ($27.3), 
European Union $12.3 ($14.0), Germany $6.6 ($7.0), Japan 
$5.1 ($6.0), Mexico $4.3 ($4.6), OPEC $4.2 ($6.7), Canada 
$2.8 ($2.7), South Korea $2.7 ($2.3), Saudi Arabia $2.7 
($4.2), India $2.4 ($3.1), Ireland $2.1 ($2.6), and Venezuela 
$1.6 ($2.0).
    
    
    Advanced technology products exports were $27.6 billion 
in May and imports were $35.2 billion, resulting in a deficit of 
$7.6 billion. May exports were $0.6 billion more than the 
$27.0 billion in April, while May imports were $0.1 billion 
less than the $35.3 billion in April.
    
Revisions 

Census Basis (not seasonally adjusted)
    
    For April, exports of goods were revised up $0.1 billion, 
and imports of goods were revised up $0.2 billion. Goods 
carry-over in May was $0.1 billion (0.1 percent) for exports 
and $1.8 billion (0.9 percent) for imports. For April, revised 
export carry-over was virtually zero, while revised import 
carry-over was $0.3 billion (0.1 percent).

Balance of Payments Basis (seasonally adjusted)
    
    For April, exports of goods were revised down $0.1 
billion, and imports of goods were revised down $0.2 billion.
    
    For April, exports of services were revised up $0.2 
billion, mainly reflecting upward revisions in travel (for all 
purposes including education) and in financial services. For 
May, imports of services were revised up $0.1 billion, mainly 
reflecting an upward revision in travel (for all purposes 
including education).
    


Table of Contents

Part A: Seasonally Adjusted (by Commodity/Service)

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 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 
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 10Real Exports and Imports of Goods by Principal End-Use Category - Chained (2009) Dollars 
Exhibit 11Real Exports, Imports, and Balance of Goods, Petroleum and Non-Petroleum End-Use 
Commodity Category Totals - Chained (2009) Dollars  

Part B: 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: 2014
Exhibit 14 aExports, Imports, and Balance of Goods by Selected Countries and Areas: 2013
Exhibit 15 Exports and Imports of Goods by Principal Commodities 
Exhibit 16 Exports, Imports, and Balance of Advanced Technology Products
Exhibit 16aExports, 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: 2014

Part C: Seasonally Adjusted (by Geography)
Exhibit 19 U.S. Trade in Goods by Selected Countries and Areas  Census Basis
Exhibit 20 U.S. Trade in Goods and Services by Selected Countries and Areas  BOP Basis
Exhibit 20aU.S. Trade in Goods by Selected Countries and Areas  BOP Basis
Exhibit 20bU.S. Trade in Services by Selected Countries and Areas

Information on Goods and Services A-1


   






