U.S. Census Bureau
U.S. Bureau of Economic Analysis
NEWS
U.S. Department of Commerce * Washington, DC 20230

FOR IMMEDIATE RELEASE AT 8:30 A.M. EST, THURSDAY, FEBRUARY 5, 2015

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 , BEA 15-06, FT-900 (15-23)


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



The U.S. Census Bureau and the U.S. Bureau of Economic 
Analysis, through the Department of Commerce, announced 
today that the goods and services deficit was $46.6 billion in 
December, up $6.8 billion from $39.8 billion in November, 
revised. December exports were $194.9 billion, down $1.5 
billion from November. December imports were $241.4 
billion, up $5.3 billion from November.

The December increase in the goods and services deficit 
reflected an increase in the goods deficit of $6.9 billion to 
$66.0 billion and an increase in the services surplus of $0.1 
billion to $19.5 billion.

For 2014, the goods and services deficit was $505.0 billion, 
up $28.7 billion or 6.0 percent from 2013. Exports were 
$2,345.4 billion, up $65.2 billion or 2.9 percent.  Imports 
were $2,850.5 billion, up $93.9 billion or 3.4 percent.
Goods and Services Three-Month Moving Averages 
(Exhibit 2)
The average goods and services deficit increased $1.1 billion 
to $42.7 billion for the three months ending in December.
*	Average exports of goods and services decreased $0.2 
billion to $196.6 billion in December.
*	Average imports of goods and services increased $0.9 
billion to $239.4 billion in December.

Year-over-year, the average goods and services deficit 
increased $5.2 billion from the three months ending in 
December 2013.
*		Average exports of goods and services increased $2.7 
billion from December 2013.
*	Average imports of goods and services increased $8.0 
billion from December 2013.
 

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $2.5 billion to $134.3 billion in 
December.
Exports of goods on a Census basis decreased $2.1 billion. 
*	Industrial supplies and materials decreased $3.1 
billion.
o	Nonmonetary gold decreased $1.2 billion.
o	Other petroleum products decreased $0.6 billion.
Net balance of payments adjustments decreased $0.4 
billion.

Exports of services increased $1.0 billion to $60.6 billion in 
December. The increase mostly reflected increases in 
transport ($0.4 billion), which includes freight and port 
services and passenger fares, in financial services ($0.3 
billion), and in travel (for all purposes including education) 
($0.2 billion).  

Imports (Exhibits 4, 6, and 8)

Imports of goods increased $4.4 billion to $200.3 billion in 
December.
Imports of goods on a Census basis increased $4.4 billion. 
*	Industrial supplies and materials increased $2.7 
billion.
o	Crude oil increased $1.1 billion.
o	Other petroleum products increased $0.5 billion.
Net balance of payments adjustments decreased less than 
$0.1 billion.

Imports of services increased $0.9 billion to $41.2 billion in 
December. The increase mostly reflected increases in 
transport ($0.5 billion) and in travel (for all purposes 
including education) ($0.3 billion).  


Real Goods in 2009 Dollars  Census Basis (Exhibit 11)

The real goods deficit increased $6.0 billion to $54.7 billion 
in December.
*	Real exports of goods decreased less than $0.1 billion to 
$123.3 billion.
*	Real imports of goods increased $6.0 billion to $178.0 
billion.


Revisions

In addition to revisions to source data for the November 
statistics, the seasonally adjusted goods data were revised for 
January through November so that the totals of the seasonally 
adjusted months equal the annual totals.

Revisions to November exports
*	Exports of goods were revised upward $0.1 billion.
*	Exports of services were revised downward less than $0.1 
billion.

Revisions to November imports
*	Imports of goods were revised upward $0.9 billion.
*	Imports of services were revised downward $0.1 billion.
	
Goods by Selected Countries and Areas: 
Monthly  Census Basis (Exhibit 19)

The December figures show surpluses, in billions of dollars, 
with South and Central America ($2.6), Brazil ($0.4), and 
United Kingdom ($0.1).  Deficits were recorded, in billions 
of dollars, with China ($30.4), European Union ($12.7), 
Germany ($5.6), Mexico ($5.6), Japan ($5.4), Canada ($3.3), 
South Korea ($2.7), OPEC ($2.3), India ($2.1), Italy ($2.1), 
France ($1.1), and Saudi Arabia ($1.0).

*	The deficit with Canada increased $1.7 billion to $3.3 
billion in December. Exports decreased $0.8 billion to 
$25.8 billion and imports increased $0.9 billion to $29.0 
billion.
*	The deficit with Mexico increased $1.2 billion to $5.6 
billion in December. Exports decreased $0.6 billion to 
$19.6 billion and imports increased $0.6 billion to $25.2 
billion.

Annual Summary for 2014

Goods and Services (Exhibit 1)

For 2014, the goods and services deficit was $505.0 billion, 
up $28.7 billion from $476.4 billion in 2013. Exports were 
$2,345.4 billion in 2014, up $65.2 billion from 2013. Imports 
were $2,850.5 billion in 2014, up $93.9 billion from 2013.

The 2014 increase in the goods and services deficit reflected 
an increase in the goods deficit of $35.2 billion or 5.0 percent 
to $736.8 billion and an increase in the services surplus of 
$6.5 billion or 2.9 percent to $231.8 billion.

 
As a percentage of U.S. gross domestic product, the goods 
and services deficit was 2.9 percent in 2014, up from 2.8 
percent in 2013.

Exports (Exhibits 3, 6, and 7)

Exports of goods increased $42.3 billion to $1,635.1 billion 
in 2014.
Exports of goods on a Census basis increased $43.7 
billion.
*	Capital goods increased $15.8 billion.
o	Other industrial machines increased $5.3 billion. 
o	Civilian aircraft increased $4.3 billion.
*	Consumer goods increased $10.1 billion.
o	Pharmaceutical preparations increased $2.6 
billion.
o	Artwork, antiques, and stamps increased $2.5 
billion.
Net balance of payments adjustments decreased $1.4 
billion.


Exports of services increased $22.9 billion to $710.3 billion 
in 2014. 
*	Travel (for all purposes including education) 
increased $5.9 billion.
*	Charges for the use of intellectual property increased 
$5.7 billion.
*	Financial services increased $5.4 billion.


Imports (Exhibits 4, 6, and 8)

Imports of goods increased $77.5 billion to $2,371.9 billion 
in 2014.
Imports of goods on a Census basis increased $77.5 
billion. 
*	Capital goods increased $36.8 billion.
o	Other industrial machines increased $6.5 billion. 
o	Telecommunications equipment increased $4.3 
billion.
*	Consumer goods increased $25.2 billion.
o	Pharmaceutical preparations increased $8.0 
billion.
o	Cell phones and other household goods increased 
$5.8 billion.
Net balance of payments adjustments increased less than 
$0.1 billion.

Imports of services increased $16.4 billion to $478.5 billion 
in 2014. 
*	Travel (for all purposes including education) 
increased $6.7 billion.
*	Other business services increased $5.6 billion.
*	Transport, which includes freight and port services 
and passenger fares, increased $3.7 billion.


Goods by Selected Countries and Areas  Census Basis 
(Exhibits 14 and 14a)

The 2014 figures show surpluses, in billions of dollars, with 
Hong Kong ($35.1), South and Central America ($34.4), 
Australia ($16.0), and Singapore ($14.1). Deficits were 
recorded, in billions of dollars, with China ($342.6), 
European Union ($141.1), Germany ($73.7), Japan ($67.0), 
Mexico ($53.8), OPEC ($49.4), Canada ($34.0), Saudi 
Arabia ($28.4),  Italy ($25.1), South Korea ($25.1), India 
($23.6), and Venezuela ($18.9).















*	The deficit with China increased $23.9 billion to $342.6 
billion in 2014. Exports increased $2.3 billion to $124.0 
billion and imports increased $26.2 billion to $466.7 
billion.
*	The deficit with Germany increased $6.8 billion to $73.7 
billion in 2014. Exports increased $2.1 billion to $49.4 
billion and imports increased $8.8 billion to $123.2 
billion.


NOTICE

Upcoming Changes to the FT-900 and the FT-900 Supplement

With the release of the U.S. International Trade in Goods and Services: January 2015 report (FT-
900) and the accompanying FT-900 Supplement on March 6, 2015, the following changes will be 
made:

*	Exhibit 3 of the FT-900 Supplement, General Imports of Crude Oil by Country, will be 
moved to the FT-900 and will be numbered Exhibit 17a. The content of this exhibit will not 
change.
*	Exhibit 4 of the FT-900 Supplement, Exports and Imports of Goods by SITC Commodity 
Sections, will be eliminated because the data in this exhibit are available in Exhibit 15 of the 
FT-900.
*	Exhibits 5, 6, and 6a of the FT-900 Supplement will be renumbered Exhibits 3, 4, and 4a, 
respectively.
*	The Euro Area will include Lithuania, which joined on January 1, 2015. This change will 
affect Exhibit 14 of the FT-900 and Exhibit 4 (current Exhibit 6) of the FT-900 Supplement.
If you have questions or need additional information, please contact the International Trade Indicator 
Macro Analysis Branch of the U.S. Census Bureaus Economic Indicators 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 
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
Exhibit 20
U.S. Trade in Goods and Services by Selected Countries and Areas  BOP Basis
25
Exhibit 20a
U.S. Trade in Goods by Selected Countries and Areas  BOP Basis
26
Exhibit 20b
U.S. Trade in Services by Selected Countries and Areas
  27
Information on Goods and Services 
A-1


   
3



CB 15-23 | BEA 15-06 | FT-900 (14-12)
NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not 
seasonally adjusted statistics and details for goods on a Census basis, are available in Exhibits 1-20b of this release. For information on data sources, definitions, and 
scheduled release dates through December 2015, see the information section on page A-1 of this release. The next release is March 6, 2015.

NOTE: For definitions of goods on a balance of payments basis, goods on a Census basis, and net balance of payments adjustments, see the information 
section on page A-1 of this release.


NOTE: For definitions of goods on a balance of payments basis, goods on a Census basis, and net balance of payments adjustments, see the information 
section on page A-1 of this release.








