U.S. International Trade in Goods and Services Highlights

Bureau of the Census
Bureau of Economic Analysis

September Goods and Services Deficit is Unchanged from August

The Nation's international deficit in goods and services was $8.3 billion in September, virtually unchanged from the deficit in August (revised), as both exports and imports increased.

Goods and Services

• Exports increased to a record $67.2 billion, from $66.2 billion in August. Goods were $49.9 billion in September, up from $49.1 billion in August, while services increased $0.3 billion to $17.4 billion.

• Imports increased to $75.6 billion, from $74.5 billion in August. Goods were $63.6 billion in September, up from $62.6 billion in August, while services in September were virtually unchanged at $12.0 billion.

• For goods, the deficit was $13.7 billion in September, up from $13.5 billion in August. For services, the surplus was $5.4 billion, up from $5.1 billion in August.

Goods by Category

• The largest increases in exports were in automotive vehicles, parts, and engines (primarily new and used cars); foods, feeds, and beverages (primarily soybeans and corn); and industrial supplies and materials.

• The largest increases in imports were in capital goods (primarily semiconductors, computers, and computer accessories) and industrial supplies and materials (primarily crude petroleum).

Goods by Geographic Area (Not seasonally adjusted)

• The goods deficit with Japan decreased for the sixth consecutive month, from $5.1 billion in August to $4.3 billion in September (lowest deficit since May 1993). The year-to-date 1995 deficit ($46.7 billion) is less than the year-to-date 1994 deficit ($47.2 billion). Exports in September increased $0.4 billion (primarily automobiles, computers, and computer accessories) to $5.7 billion, while imports decreased $0.4 billion (primarily specialized machinery and general industrial machinery) to $10.1 billion.

• The goods deficit with Canada increased from $1.5 billion in August to $1.9 billion in September (largest deficit since November of 1986). Imports increased $0.3 billion (primarily automobiles and parts, and aircraft and parts) to $12.6 billion.

• The goods deficit with China decreased from a record $3.9 billion in August to $3.6 billion in September. Imports decreased $0.2 billion (primarily clothing and footwear) to $4.6 billion.

. Note: Total goods are reported on a balance of payments basis; commodity and country detail for goods are on a Census basis. Definitions are explained in the notes to the monthly press release.

Next release December 20, 1995.