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BEA’s API Expands Access to All Regional Data

Developers, your requests have been heard. All regional data from the Bureau of Economic Analysis are now accessible through our application programming interface, or API. This includes industry detail for certain estimates, back-year estimates under the SIC industry structure and every statistic currently available in our interactive data tables.

The new API datasets are named “RegionalIncome” and “RegionalProduct”. The statistics available correspond to the public tables for the regional program. To assist in finding the economic statistics from these datasets, a new data availability page has been developed. The appendices I and J in the API User Guide are also descriptive and give helpful examples.

The new datasets are intended to replace the older regional dataset “RegionalData”, part of the API launched in May 2013, which only allows access to summary statistics. The older “RegionalData” dataset, however, will still be available. The new datasets join other in the API — BEA’s GDP and related national economic statistics, international transactions and investment, and foreign direct investment statistics. In addition to expanding the amount of data available on the API, BEA published an updated API User Guide, making it easier for developers to start using the service.

BEA’s API allows developers to build a service to search, display, analyze, retrieve, or view BEA statistics. For example, you can create a “mashup” that combines BEA data with other government or private data sources to create new services or give your users a different perspective on their communities. Or you can design a tool that gives your users new ways to visualize economic data.

The API includes methods for retrieving subsets of BEA statistical data and the meta-data that describes it using HTTP requests. It delivers data in two industry-standard formats: XML (Extensible Markup Language) and JSON (JavaScript Object Notation).

To use the API, you need to register first. Full documentation is available in the updated API User Guide.

The BEA’s API is just one way BEA is supporting open data. Visit BEA’s Open Data site for a complete listing of BEA’s data sets in a machine readable JSON format, along with access to downloadable data sets and other data tools.

May 2015 Trade Gap is $41.9 Billion

The U.S. monthly international trade deficit increased in May 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.7 billion in April (revised) to $41.9 billion in May, as exports decreased more than imports. The previously published April deficit was $40.9 billion. The goods deficit increased $1.2 billion from April to $61.5 billion in May. The services surplus increased less than $0.1 billion from April to $19.6 billion in May.

balance on goods and services trade july 7

Exports
Exports of goods and services decreased $1.5 billion, or 0.8 percent, in May to $188.6 billion. Exports of goods decreased $1.6 billion and exports of services increased $0.1 billion.

  • The decrease in exports of goods mainly reflected a decreased in capital goods ($2.4 billion). An increase in industrial supplies and materials ($0.8 billion) was partly offsetting.
  • The increase in exports of services mainly reflected an increase in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related and other services.

Imports
Imports of goods and services decreased $0.3 billion, or 0.1 percent, in May to $230.5 billion. Imports of goods decreased $0.4 billion and imports of services increased $0.1 billion.

  • The decrease in imports of goods mainly reflected decreases in capital goods ($0.8 billion) and in industrial supplies and materials ($0.6 billion). An increase in automotive vehicles, parts, and engines ($0.8 billion) was partly offsetting.
  • The increase in imports of services mainly reflected an increase in transport ($0.1 billion), which includes freight and port services and passenger fares.

Goods by geographic area (seasonally adjusted, Census basis)

  • The goods deficit with China increased from $27.5 billion in April to $30.6 billion in May. Exports decreased $0.7 billion to $9.6 billion and imports increased $2.4 billion to $40.2 billion.
  • The goods deficit with the European Union increased from $11.9 billion in April to $13.4 billion in May. Exports decreased $0.1 billion to $22.6 billion and imports increased $0.4 billion to $36.0 billion.
  • The goods surplus with South and Central America increased from $3.0 billion in April to $4.2 billion in May. Exports increased $0.8 billion to $13.7 billion and imports decreased $0.4 billion to $9.5 billion.

For more information, read the full report.

Real Personal Income for Metropolitan Areas, 2013

Real personal income across all regions rose by an average of 0.8 percent in 2013. This growth rate reflects the year-over-year change in nominal personal income across all regions adjusted by the change in the national personal consumption expenditures (PCE) price index. On a nominal basis, personal income across all regions grew an average of 2.0 percent in 2013. In 2013, the U.S. PCE price index grew 1.2 percent.

Real Personal Income Metro July 1

Growth in real metropolitan area personal income in 2013 ranged from an increase of 4.8 percent in Sioux City, IA-NE-SD to a decline of 3.1 percent in New Bern, NC. After Sioux City, IA-NE-SD, the metropolitan areas with the largest growth rates were Janesville-Beloit, WI (4.6 percent), Danville, IL (4.4 percent), Monroe, MI (4.4 percent), and Boise City, ID (3.9 percent). After New Bern, NC, the metropolitan area with the largest declines were Beckley, WV (-3.0 percent), Fairbanks, AK (-2.9 percent), Peoria, IL (-2.9 percent), and Anniston-Oxford-Jacksonville, AL (-2.4 percent).

For more information, read the full report.