U.S. Census Bureau

U.S. Bureau of Economic Analysis

# NEWS

## U.S. Department of Commerce • Washington, DC 20230

### For Immediate Release {#for-immediate-release .none}

### 8:30 A.M. EDT TUESDAY, AUGUST 12, 2008 {#a.m.-edt-tuesday-august-12-2008 .none}

+------------+-------------------------+--------------------+---------+
| For        |                         | For information on |         |
| i          |                         | services contact:  |         |
| nformation |                         |                    |         |
| on goods   |                         |                    |         |
| contact:   |                         |                    |         |
+------------+-------------------------+--------------------+---------+
| **U.S.     |                         | **U.S. Bureau of   |         |
| Census     |                         | Economic           |         |
| Bureau:**  |                         | Analysis:**        |         |
+------------+-------------------------+--------------------+---------+
| ######## N | 301-763-6959            | Number range       | 202-6   |
| umber rang |                         | CHAPTER*Technical: | 06-9545 |
| e CHAPTERN |                         | Christopher Bach*  |         |
| ick Orsini |                         |                    |         |
+------------+-------------------------+--------------------+---------+
| Number     | 301-763-2311            | Number range       | 202-6   |
| range      |                         | CHAPTER*Media:     | 06-2649 |
| CHA        |                         | Ralph Stewart*     |         |
| PTER*Maria |                         |                    |         |
| Iseman*    |                         |                    |         |
+------------+-------------------------+--------------------+---------+
|            |                         |                    |         |
+------------+-------------------------+--------------------+---------+
|            |                         | Number range       |         |
|            |                         | CHAPTERCB08-121,   |         |
|            |                         | BEA08-37, FT-900   |         |
|            |                         | (08-06)            |         |
+------------+-------------------------+--------------------+---------+

+-----------------------------------------------------------------------+
| #### U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES                   |
+-----------------------------------------------------------------------+
| #### June 2008                                                        |
+-----------------------------------------------------------------------+

##### 

##### 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 June exports of
**\$164.4 billion** and imports of **\$221.2 billion** resulted in a
goods and services deficit of **\$56.8 billion**, down from \$59.2
billion in May, revised. June exports were \$6.4 billion more than May
exports of \$158.0 billion. June imports were \$3.9 billion more than
May imports of \$217.2 billion.

In June, the goods deficit decreased \$2.1 billion from May to \$70.0
billion, and the services surplus increased \$0.4 billion to \$13.3
billion. Exports of goods increased \$5.7 billion to \$116.7 billion,
and imports of goods increased \$3.6 billion to \$186.7 billion. Exports
of services increased \$0.7 billion to \$47.7 billion, and imports of
services increased \$0.3 billion to \$34.5 billion.

In June, the goods and services deficit decreased \$2.4 billion from
June 2007. Exports were up \$28.7 billion, or 21.1 percent, and imports
were up \$26.3 billion, or 13.5 percent.

**[Goods]{.underline}**

The May to June change in exports of goods reflected increases in
*industrial supplies and materials*

(\$2.8 billion); *capital goods* (\$1.2 billion); *foods, feeds, and
beverages* (\$0.9 billion); c*onsumer goods* (\$0.7 billion); and
*automotive vehicles, parts, and engines* (\$0.6 billion). A decrease
occurred in *other goods* (\$0.2 billion).

The May to June change in imports of goods reflected increases in
*industrial supplies and materials* (\$5.6 billion); *other goods*
(\$0.1 billion); and *automotive vehicles, parts, and engines* (\$0.1
billion). Decreases occurred in *capital goods* (\$1.4 billion);
*consumer goods* (\$0.6 billion); and *foods, feeds, and beverages*
(\$0.1 billion).

The Number range CHAPTERJune 2007 to June 2008 change in exports of
goods reflected increases in *industrial supplies and materials* (\$10.0
billion); *capital goods* (\$3.9 billion); *foods, feeds, and beverages*
(\$3.8 billion); *consumer goods* (\$2.3 billion); *automotive vehicles,
parts, and engines* (\$0.8 billion); and *other goods* (\$0.6
billion).![](media/image1.png){width="3.3604166666666666in"
height="2.29375in"}

The June 2007 to June 2008 change in imports of goods reflected
increases in *industrial supplies and materials* (\$19.8 billion);
*consumer goods* (\$1.8 billion); *capital goods* (\$1.2 billion);
*foods, feeds, and beverages* (\$0.7 billion); and *other goods* (\$0.4
billion). A decrease occurred in *automotive vehicles, parts, and
engines* (\$0.9 billion).

##### Services

Services exports increased \$0.7 billion from May to June. The increase
was mostly accounted for by increases in *other private services* (which
includes items such as business, professional, and technical services,
insurance services, and financial services), *royalties and license
fees*, *passenger fares*, and *other transportation* (which includes
freight and port services).

Services imports increased \$0.3 billion from May to June. The increase
was mostly accounted for by increases in *other private services* and
*passenger fares*. Changes in other categories of services imports were
small.

From June 2007 to June 2008, services exports increased \$6.8 billion.
The largest increases were in *other private services* (\$2.3 billion),
*travel* (\$1.7 billion), *other transportation* (\$1.1 billion), and
*royalties and license fees* (\$1.0 billion). Within *other private
services*, the largest increase was in business, professional, and
technical services.

From June 2007 to June 2008, services imports increased \$3.1 billion.
The largest increases were in *other private services* (\$1.2 billion),
*travel* (\$0.6 billion), and *other transportation* (\$0.6 billion).
Within *other private services*, the largest increases were in business,
professional, and technical services and insurance services.

##### 

##### Goods and Services Moving Average

For the three months ending in June, exports of goods and services
averaged \$159.5 billion, while imports of goods and services averaged
\$218.4 billion, resulting in an average trade deficit of \$58.8
billion. For the three months ending in May, the average trade deficit
was \$58.7 billion, reflecting average exports of \$154.9 billion and
average imports of \$213.7
billion.![](media/image2.png){width="3.3604166666666666in"
height="2.29375in"}

##### Selected Not Seasonally Adjusted Goods Details

Number range CHAPTERThe June figures showed surpluses, in billions of
dollars, with Hong Kong \$1.8 (\$1.4 for May), Singapore \$1.5 (\$1.3),
Australia \$1.0 (\$1.1), and Egypt \$0.4 (\$0.3). Deficits were
recorded, in billions of dollars, with China \$21.4 (\$21.0), OPEC
\$18.1 (\$17.9), the European Union \$8.2 (\$7.9), Canada \$7.2 (\$5.4),
Japan \$6.1 (\$5.0), Mexico \$5.7 (\$6.6), Venezuela \$4.6 (\$3.9),
Nigeria \$3.3 (\$3.2), Taiwan \$0.6 (\$0.6), and Korea \$0.5 (\$1.1).

Advanced technology products (ATP) exports were \$25.0 billion in June
and imports were \$28.9 billion, resulting in a deficit of \$3.9
billion. June exports were \$1.0 billion more than the \$24.1 billion in
May, while imports were \$1.3 billion more than the \$27.6 billion in
May.

##### Revisions

Number range CHAPTERGoods carry-over in June was \$0.8 billion (0.7
percent) for exports and \$1.4 billion (0.7 percent) for imports. For
May, revised export carry-over was \$0.2 billion (0.1 percent), revised
down from \$0.7 billion (0.6 percent). For May, revised import
carry-over was \$0.1 billion (0.1 percent), revised down from \$1.5
billion (0.8 percent).

Services exports for May were revised up \$0.3 billion to \$47.0
billion. The revision was mostly accounted for by upward revisions in
*travel* and *passenger fares.* Services imports for May were revised up
\$0.1 billion to \$34.1 billion. The revision was more than accounted
for by an upward revision in *travel.*

+---------+--------------------------------------------------------+---+
| #       |                                                        |   |
| #####   |                                                        |   |
| **Table |                                                        |   |
|  of Con |                                                        |   |
| tents** |                                                        |   |
|         |                                                        |   |
| #       |                                                        |   |
| #####   |                                                        |   |
+---------+--------------------------------------------------------+---+
| #####   |                                                        |   |
|         |                                                        |   |
| ####    |                                                        |   |
| # Seaso |                                                        |   |
| nally A |                                                        |   |
| djusted |                                                        |   |
+---------+--------------------------------------------------------+---+
| ###     | U.S. International Trade in Goods and Services . . . . | 1 |
| #### Ex | . . . . . . . . . . . . . . . . . . . . . . . . . . .  |   |
| hibit 1 | .                                                      |   |
+---------+--------------------------------------------------------+---+
| ***     | U.S. International Trade in Goods and Services         | 2 |
| Exhibit | Three-month Moving Averages. . . . . . .               |   |
| 2***    |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | U.S. Services by Major Category -- Exports . . . . . . | 3 |
| Exhibit | . . . . . . . . . . . . . . . . . . . . . . . . . . .  |   |
| 3***    | . .                                                    |   |
+---------+--------------------------------------------------------+---+
| ***     | U.S. Services by Major Category -- Imports . . . . . . | 4 |
| Exhibit | . . . . . . . . . . . . . . . . . . . . . . . . . . .  |   |
| 4***    | . .                                                    |   |
+---------+--------------------------------------------------------+---+
| ***     | U.S. Trade in Goods. . . . . . . . . . . . . . . . . . | 5 |
| Exhibit | . . . . . . . . . . . . . . . . . . . . . . . . . . .  |   |
| 5***    | . . . . . . . . .                                      |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports and Imports of Goods by Principal End-Use      | 6 |
| Exhibit | Category . . . . . . . . . . . . . . . . . . . .       |   |
| 6***    |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports of Goods by End-Use Category and Commodity. .  | 7 |
| Exhibit | . . . . . . . . . . . . . . . . . . . . . . .          |   |
| 7***    |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Imports of Goods by End-Use Category and Commodity. .  | 9 |
| Exhibit | . . . . . . . . . . . . . . . . . . . . . . .          |   |
| 8***    |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports, Imports, and Balance of Goods, Petroleum and  | 1 |
| Exhibit | Non-Petroleum End-Use Category Totals . . . . . . . .  | 1 |
| 9***    | . . . . . . . . . . . . . . . . . . . . . . . . . . .  |   |
|         | . . . . . . . . . . . . . . . . . . . . . .            |   |
+---------+--------------------------------------------------------+---+
| ***     | Real Exports and Imports of Goods by Principal End-Use | 1 |
| Exhibit | Category (2000 Chain-weighted dollars) . . . . . . . . | 2 |
| 10***   | . . . . . . . . . . . . . . . . . . . . . . . . . . .  |   |
|         | . . . . . . . . . . . . . . . . . . . . .              |   |
+---------+--------------------------------------------------------+---+
| ***     | Real Exports, Imports, and Balance of Goods, Petroleum | 1 |
| Exhibit | and Non-Petroleum End-Use Commodity Category Totals    | 3 |
| 11***   | (2000 Chain-weighted dollars) . . . . . . . . . . . .  |   |
|         | . . . . . . . . . .                                    |   |
+---------+--------------------------------------------------------+---+
| #####   |                                                        |   |
|         |                                                        |   |
| #       |                                                        |   |
| #### No |                                                        |   |
| t Seaso |                                                        |   |
| nally A |                                                        |   |
| djusted |                                                        |   |
+---------+--------------------------------------------------------+---+
| ####    | U.S. Trade in Goods. . . . . . . . . . . . . . . . . . | 1 |
| ### Exh | . . . . . . . . . . . . . . . . . . . . . . . . . . .  | 4 |
| ibit 12 | . . . . . . . . .                                      |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports and Imports of Goods by Principal End-Use      | 1 |
| Exhibit | Category . . . . . . . . . . . . . . . . . . . .       | 5 |
| 13***   |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports, Imports, and Balance of Goods by Selected     | 1 |
| Exhibit | Countries and Areas. . . . . . . . . . . .             | 6 |
| 14***   |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports and Imports of Goods by Principal SITC         | 1 |
| Exhibit | Commodities. . . . . . . . . . . . . . . . . . . .     | 8 |
| 15***   |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports, Imports, and Balance of Advanced Technology   | 2 |
| Exhibit | Products. . . . . . . . . . . . . . . . . .            | 0 |
| 16***   |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports, Imports, and Balance of Advanced Technology   | 2 |
| Exhibit | Products by Technology                                 | 1 |
| 16a***  |                                                        |   |
|         | Group and Selected Countries and Areas. . . . . . . .  |   |
|         | . . . . . . . . . . . . . . . . . . . . . . . . . . .  |   |
|         | . . .                                                  |   |
+---------+--------------------------------------------------------+---+
| ***     | Imports of Energy-Related Petroleum Products,          | 2 |
| Exhibit | Including Crude Oil . . . . . . . . . . . . . . .      | 2 |
| 17***   |                                                        |   |
+---------+--------------------------------------------------------+---+
| ***     | Exports and Imports of Motor Vehicles and Parts by     | 2 |
| Exhibit | Selected Countries. . . . . . . . . . . . .            | 3 |
| 18***   |                                                        |   |
+---------+--------------------------------------------------------+---+
| Info    |                                                        | A |
| rmation |                                                        | - |
| on      |                                                        | 1 |
| Goods   |                                                        |   |
| and     |                                                        |   |
| Ser     |                                                        |   |
| vices.. |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| . . . . |                                                        |   |
| .       |                                                        |   |
+---------+--------------------------------------------------------+---+