Posts Tagged 'Bureau of Economic Analysis'

June 2015 Trade Gap is $43.8 Billion

The U.S. monthly international trade deficit increased in June 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.9 billion in May (revised) to $43.8 billion in June, as exports decreased and imports increased. The previously published May deficit was $41.9 billion. The goods deficit increased $2.9 billion from May to $63.5 billion in June. The services surplus decreased less than $0.1 billion from May to $19.7 billion in June.

Balance on Goods and services trade aug 5

Exports
Exports of goods and services decreased $0.1 billion, or 0.1 percent, in June to $188.6 billion. Exports of goods decreased $0.2 billion and exports of services increased $0.1 billion.

  • The decrease in exports of goods mainly reflected decreases in capital goods ($0.8 billion) and in industrial supplies and materials ($0.6 billion). An increase in consumer goods ($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 and increases in several categories of services of less than $0.1 billion. A decrease in transport ($0.2 billion), which includes freight and port services and passenger fares, was mostly offsetting.

Imports
Imports of goods and services increased $2.8 billion, or 1.2 percent, in June to $232.4 billion. Imports of goods increased $2.7 billion and imports of services increased $0.1 billion.

  • The increase in imports of goods mainly reflected increases in consumer goods ($1.7 billion) and in industrial supplies and materials ($1.2 billion). A decrease in capital goods ($1.3 billion) was partly offsetting.
  • The increase in imports of services mainly reflected an increase in travel (for all purposes including education) ($0.2 billion) and increases in several categories of services of less than $0.1 billion. A decrease in transport ($0.2 billion) was mostly offsetting.

Goods by geographic area (seasonally adjusted, Census basis)

  • The balance with Canada shifted from a surplus of $0.2 billion in May to a deficit of $3.1 billion in June. Exports decreased $1.1 billion to $23.0 billion and imports increased $2.2 billion to $26.2 billion.
  • The deficit with Mexico increased from $4.1 billion in May to $5.4 billion in June. Exports increased $0.1 billion to $20.0 billion and imports increased $1.4 billion to $25.5 billion.
  • The deficit with China decreased from $30.6 billion in May to $29.0 billion in June. Exports increased $0.9 billion to $10.5 billion and imports decreased $0.7 billion to $39.5 billion.

For more information, read the full report.

December 2014 Trade Gap is $46.6 Billion

The U.S. monthly international trade deficit increased in December 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau.  The deficit increased from $39.8 billion in November (revised) to $46.6 billion in December, as exports decreased and imports increased. The previously published November deficit was $39.0 billion. The goods deficit increased $6.9 billion from November to $66.0 billion in December. The services surplus increased $0.1 billion from November to $19.5 billion in December.

Monthly Balance on Goods and Services Trade Feb5

Exports
Exports of goods and services decreased $1.5 billion in December to $194.9 billion, reflecting a decrease in exports of goods. Exports of services increased.

  • The decrease in exports of goods was more than accounted for by a decrease in industrial supplies and materials. An increase in capital goods was partly offsetting.
  • The increase in exports of services reflected increases in transport, which includes freight and port services and passenger fares, in financial services, and in travel (for all purposes including education).

Imports
Imports of goods and services increased $5.3 billion in December to $241.4 billion, mostly reflecting an increase in imports of goods. Imports of services also increased.

  • The increase in imports of goods mostly reflected increases in industrial supplies and materials and in automotive vehicles, parts, and engines.
  • The increase in imports of services mostly reflected increases in transport and in travel (for all purposes including education).

Goods by geographic area (seasonally adjusted, Census basis)

  • The goods deficit with Canada increased from $1.6 billion in November (revised) to $3.3 billion in December. Exports decreased $0.8 billion to $25.8 billion and imports increased $0.9 billion to $29.0 billion.
  • The goods surplus with South and Central America decreased from $4.3 billion in November to $2.6 billion in December. Exports decreased $0.7 billion $14.8 billion and imports increased $1.0 billion to $12.2 billion.
  • The goods deficit with Germany decreased from $6.3 billion in November to $5.6 billion in December. Exports increased $0.1 billion to $3.9 billion and imports decreased $0.6 billion to $9.6 billion.

Read the full report.

Introducing the New BEA Health Care Satellite Account

Total health care spending reached 17.4 percent of gross domestic product (GDP) in 2013, and that share is expected to continue to grow significantly, according to the Centers for Medicare and Medicaid Services. Given this trend, it is critical to develop an understanding of what those increased expenditures represent.  Are the increases attributable to rising costs of treatment or more individuals receiving medical care? What medical conditions account for the majority of spending? Which medical conditions see the cost of treatment rising most rapidly? Do these spending increases coincide with improvements in treatment? Answers to these questions are necessary in order to formulate policies that allow for society’s efficient consumption of health care as well as for the improvement of the nation’s overall health status.

The Bureau of Economic Analysis (BEA) has been conducting research to develop a health care satellite account (HCSA)—engaging in methodological research, evaluating new data sources, collaborating with academic researchers, and working jointly across multiple federal agencies (see the SURVEY OF CURRENT BUSINESS articles (2007),(2008),(2009),(2012),(2013)). The account builds on research by prominent health economists, recommendations from two reports of the National Academy of Sciences’ Committee on National Statistics, and years of research both at BEA and the Bureau of Labor Statistics (BLS).

This first release of the HCSA presents preliminary estimates that may be used to improve our understanding of health care spending trends and its effects on the U.S. economy.

Read the full article.