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, SEPTEMBER 4, 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 14-162, BEA 14-42, FT-900 (14-07)

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
July 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 July exports of $198.0 billion and imports of $238.6 billion resulted in a goods and services deficit of $40.5 billion, down from $40.8 billion in June,  revised. July exports were $1.8 billion more than June exports of $196.2 billion. July imports were $1.6 billion more than June imports of $237.0 billion.
    
    In July, the goods deficit decreased $0.2 billion from June to $60.2 billion, and the services surplus was virtually unchanged at $19.6 billion. Exports of goods increased $1.8 billion to $138.6 billion, and imports of goods increased $1.5 billion to $198.8 billion. Exports of services increased $0.1 billion to $59.4 billion, and imports of services were virtually unchanged at $39.8 billion.
    
    The goods and services deficit increased $1.1 billion from July 2013 to July 2014. Exports were up $8.1 billion, or 4.3 percent, and imports were up $9.2 billion, or 4.0 percent.
    
Goods (Census Basis)
    
    The June to July increase in exports of goods reflected increases in automotive vehicles, parts, and engines ($1.7 billion); industrial supplies and materials ($1.3 billion); and capital goods ($0.4 billion).  Decreases occurred in consumer goods ($0.6 billion) and foods, feeds, and beverages ($0.6 billion). Other goods were virtually unchanged.


   
   The June to July increase in imports of goods reflected increases in automotive vehicles, parts, and engines ($1.4 billion); other goods ($0.5 billion); industrial supplies and materials ($0.5 billion); and foods, feeds, and beverages ($0.1 billion).  Decreases occurred in consumer goods ($0.5 billion) and capital goods ($0.3 billion).  
   
   The July 2013 to July 2014 increase in exports of goods reflected increases in automotive vehicles, parts, and engines ($2.8 billion); capital goods ($1.5 billion); consumer goods ($0.7 billion); other goods ($0.5 billion); foods, feeds, and beverages ($0.3 billion); and industrial supplies and materials ($0.1 billion).  
   
   
   The July 2013 to July 2014 increase in imports of goods reflected increases in capital goods ($3.5 billion); automotive vehicles, parts, and engines ($2.8 billion); foods, feeds, and beverages ($1.3 billion); consumer goods ($0.7 billion); and other goods ($0.5 billion). A decrease occurred in industrial supplies and materials ($0.6 billion). 
    
Services

    Exports of services increased $0.1 billion from June to July. The increase reflected increases of less than $0.1 billion in several categories of services.
    
    Imports of services were virtually unchanged from June to July. An increase in other business services ($0.1 billion) was mostly offset by a decrease in charges for the use of intellectual property ($0.1 billion), which decreased due to higher payments in June than in July for the rights to broadcast the 2014 soccer World Cup. Changes in the other categories of services imports were relatively small.
    
    The July 2013 to July 2014 increase in exports of services was $2.4 billion or 4.2 percent. The largest increases were in travel (for all purposes including education) ($1.0 billion), in transport ($0.6 billion), which includes freight and port services and passenger fares, in other business services ($0.4 billion), and in financial services ($0.4 billion).  
    
    The July 2013 to July 2014 increase in imports of services was $1.3 billion or 3.5 percent. The largest increases were in travel (for all purposes including education) ($0.7 billion) and in other business services ($0.5 billion).
    
Goods and Services Moving Average

    For the three months ending in July, exports of goods and services averaged $196.8 billion, while imports of goods and services averaged $238.4 billion, resulting in an average trade deficit of $41.6 billion. For the three months ending in June, the average trade deficit was $43.4 billion, reflecting average exports of $195.4 billion and average imports of $238.8 billion.
    

Selected Not Seasonally Adjusted Goods Details
    
    The July figures show surpluses, in billions of dollars, with Hong Kong $2.1 ($3.1 for June), Australia $1.6 ($1.3), and Brazil $0.5 ($0.9).  Deficits were recorded, in billions of dollars, with China $30.9 ($30.1), European Union $13.2 ($11.2), Germany $6.4 ($5.2), Japan $6.2 ($5.4), OPEC $6.2 ($3.9), Mexico $4.4 ($4.9), Canada $3.1 ($2.7), Saudi Arabia $2.8 ($1.9), South Korea $2.5 ($1.9), Venezuela $2.2 ($1.6),  India $2.1 ($1.3), and Ireland $1.8 ($2.8). 
    
    Advanced technology products exports were $27.1 billion in July and imports were $34.0 billion, resulting in a deficit of $6.9 billion. July exports were $1.3 billion less than the $28.4 billion in June, while July imports were $1.8 billion less than the $35.8 billion in June.
    
Revisions 

Census Basis (not seasonally adjusted)
    
    For June, exports of goods were virtually unrevised, and imports of goods were revised up $0.2 billion. Goods carry-over in July was $0.1 billion for exports and $1.9 billion (0.9 percent) for imports. For June, revised export carry-over was virtually zero, while revised import carry-over was $0.1 billion.

Balance of Payments Basis (seasonally adjusted)
    
    For January 2014 through June 2014, exports and imports of goods and services were revised to incorporate more comprehensive and updated quarterly and monthly data.  
    
    For June, exports of goods were virtually unrevised, and imports of goods were revised up $0.1 billion.
    
    For June, exports of services were revised up $0.4 billion, mainly reflecting upward revisions in government goods and services, in charges for the use of intellectual property, and in other business services. A downward revision in telecommunications, computer, and information services was partly offsetting. For June, imports of services were revised down $0.5 billion, mainly reflecting downward revisions in financial services, in charges for the use of intellectual property, and in other business services.
    
NOTICE
Upcoming Changes to Release Text
With the release of U.S. International Trade in Goods and Services: October 2014 on December 5, 2014, the text will be reorganized and the discussion of trade by geography will be modified to highlight the newly available seasonally adjusted statistics. Further details on the upcoming changes will be made available with the release on November 4, 2014.

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.


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





























