Archive for the 'Trade in Goods and Services' Category



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.

 

Want to Learn More About U.S. Trade Statistics? Check out BEA’s and Census’ July 25 Webinar

Do you want to have a deeper understanding of how monthly trade statistics are compiled and how trade between the United States and other countries is measured? Then join the U.S. Bureau of Economic Analysis (BEA) and the U.S. Census Bureau for a July 25 webinar deciphering the U.S. international trade in goods and services report. The webinar will start at 1 p.m. EDT.

The Commerce Department’s BEA and Census Bureau produce the monthly trade report. During the webinar, representatives from both statistical agencies will walk you through all the key pieces of this important report. The monthly trade report is the official source of comprehensive data on imports and exports of goods and services. These trade statistics provide vital information for policymakers, businesses, and anyone interested in understanding the performance of the U.S. economy, especially in a global context. Trade is also a key component of U.S. gross domestic product, or GDP.

Here’s what you need to do to participate in the free webinar:

  1. Approximately 15 minutes prior to the start time, go to the registration page.
  2. Click on the log-in information and dial into the webinar.

This webinar is the first in the Census Bureau’s 2013 Economic Indicator Webinar Series.  Each of the 13 webinars in this series will provide an indepth description of how the critical economic indicator data are collected and how you can access and use these statistics. Other webinar topics include construction, housing, and retail trade. The complete schedule is available on the Census Bureau Web site.

May 2013 Trade Gap is $45.0 Billion

The U.S. monthly international trade deficit increased in May 2013, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.1 billion in April (revised) to $45.0 billion in May as exports decreased and imports increased. The previously published April deficit was $40.3 billion. The goods deficit increased $5.0 billion from April to $63.4 billion in May; the services surplus increased $0.2 billion from April to $18.4 billion in May.trade_may

Exports
Exports of goods and services decreased $0.5 billion in May to $187.1 billion reflecting a decrease in exports of goods. Exports of services increased.
• The largest decreases in exports of goods were in consumer goods and in industrial supplies and materials.
• The largest increases in exports of services were in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services, and in passenger fares.

Imports
Imports of goods and services increased $4.4 billion in May to $232.1 billion mostly reflecting an increase in imports of goods. Imports of services also increased.
• The largest increases in imports of goods were in industrial supplies and materials, in consumer goods, and in automotive vehicles, parts, and engines.
• The largest increases in imports of services were in passenger fares and in travel.

Goods by geographic area (not seasonally adjusted)
• The goods deficit with the European Union decreased from $12.4 billion in April to $10.8 billion in May. Exports increased $1.3 billion to $22.5 billion, while imports decreased $0.3 billion to $33.3 billion.
• The goods deficit with China increased from $24.1 billion in April to $27.9 billion in May. Exports decreased $0.2 billion to $8.8 billion, while imports increased $3.5 billion to $36.6 billion.
• The goods deficit with Japan decreased from $6.9 billion in April to $5.4 billion in May. Exports increased $0.7 billion to $5.8 billion, while imports decreased $0.8 billion to $11.2 billion.

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