Archive for August, 2013



June 2013 Trade Gap is $34.2 Billion

The U.S. monthly international trade deficit decreased in June 2013, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $44.1 billion in May (revised) to $34.2 billion in June as exports increased and imports decreased. The previously published May deficit was $45.0 billion. The goods deficit decreased $9.7 billion from May to $53.2 billion in June; the services surplus increased $0.2 billion from May to $18.9 billion in June.trade_june13

Exports
Exports of goods and services increased $4.1 billion in June to $191.2 billion mostly reflecting an increase in exports of goods. Exports of services also increased.
• The largest increases in exports of goods were in industrial supplies and materials, in capital goods, and in consumer goods.
• The increase in exports of services mostly reflected an increase in travel.

Imports
Imports of goods and services decreased $5.8 billion in June to $225.4 billion reflecting a decrease in imports of goods. Imports of services were virtually unchanged.
• The largest decreases in imports of goods were in industrial supplies and materials, in consumer goods, and in other goods.
• The small change in imports of services reflected a decrease in other transportation, which includes freight and port services, that was mostly offset by increases in several categories.

Goods by geographic area (not seasonally adjusted)
• The goods deficit with the European Union decreased from $10.8 billion in May to $7.1 billion in June. Exports increased $0.3 billion to $22.8 billion and imports decreased $3.4 billion to $29.9 billion.
• The goods deficit with China decreased from $27.9 billion in May to $26.6 billion in June. Exports increased $0.4 billion to $9.2 billion and imports decreased $0.8 billion to $35.8 billion.
• The goods deficit with Canada decreased from $1.9 billion in May to $1.6 billion in June. Exports decreased $0.9 billion to $25.5 billion and imports decreased $1.2 billion to $27.1 billion.

To learn more about U.S. international trade in goods and services, read the full report.

 

Personal Income Increases in June

again_pi_june1Personal income increased 0.3 percent in June after increasing 0.4 percent in May. Wages and salaries, the largest component of personal income, increased 0.5 percent in June after increasing 0.3 percent in May.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in June, the same increase as in May.

Real DPI, income adjusted for taxes and inflation, fell 0.1 percent in June after rising 0.2 percent in May.

Real consumer spending, spending adjusted for price changes, rose 0.1 percent in June, the same as in May.

PCE prices increased 0.4 percent in June after increasing 0.1 percent in May. Excluding food and energy, PCE prices increased 0.2 percent in June, compared to an increase of 0.1 percent in May.

Personal saving rate
Personal saving as a percent of DPI was 4.4 percent in June, compared with 4.6 percent in May.

Comprehensive revision
These estimates reflect the 2013 comprehensive revision of the national income and products accounts, which incorporated new source data and other improvements.

To learn more about personal income and outlays, read the full report.pi_june2

New Detail Available on Direct Investment for 2009–2012

Interested in learning about foreign direct investment in the U.S. advertising industry?  Or in U.S. direct investment in Vietnam?  The U.S. Bureau of Economic Analysis (BEA)  released its most detailed statistics on U.S. direct investment abroad—or “outward direct investment”—and on foreign direct investment in the United States—or “inward direct investment”.  These statistics cover direct investment positions at historical cost (book value) and related financial and income flows.

These statistics provide comprehensive data on direct investment by country and by industry.  For outward investment, the statistics provide information for all countries and industries in which U.S. companies have invested directly and are classified by the country and industry of the foreign affiliate.

For inward investment, the statistics provide information for all countries from which there is direct investment.  These statistics are classified by the country of the foreign parent—that is, the country of the investor with a direct investment in the U.S. affiliate.  Statistics on inward investment classified by the country of the investor who ultimately controls the investment, called the ultimate beneficial owner are also available.

In addition, the statistics provide data on all industries in which there is inward investment, classified by the industry of the U.S. affiliate.  By providing this additional detail, these statistics enhance the international transactions accounts and international investment position statistics released in June 2013.

For 2009–2012, the statistics reflect the incorporation of new or revised data from BEA’s quarterly surveys of transactions between parents (both U.S. and foreign) and their affiliates, along with annual surveys of financial and operating data for U.S. parent companies and their foreign affiliates and for U.S. affiliates of foreign companies.  The U.S. direct investment abroad series also includes the incorporation of the 2009 benchmark survey of U.S. parent companies and their foreign affiliates.

An upcoming article in the September Survey of Current Business will present these statistics as well as additional statistics, such as reinvestment ratios, rates of return, and position and income data for outward investment classified by the industry of the U.S. parent.