Posts Tagged 'trade in goods and services'

July 2014 Trade Gap is $40.5 Billion

The U.S. monthly international trade deficit decreased in July 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $40.8 billion in June (revised) to $40.5 billion in July as exports increased more than imports. The previously published June deficit was $41.5 billion. The goods deficit decreased $0.2 billion from June to $60.2 billion in July; the services surplus was nearly unchanged from June at $19.6 billion.

Trade_july2014

Exports
Exports of goods and services increased $1.8 billion in July to $198.0 billion, mostly reflecting an increase in exports of goods. Exports of services also increased.

  • The increase in exports of goods was more than accounted for by increases in automotive vehicles, parts, and engines and in industrial supplies and materials. Partly offsetting were decreases in consumer goods and in foods, feeds, and beverages.
  • The increase in exports of services reflected increases of less than $0.1 billion in several categories of services.

Imports
Imports of goods and services increased $1.6 billion in July to $238.6 billion, reflecting an increase in imports of goods. Imports of services were nearly unchanged.

  • The increase in imports of goods was mostly accounted for by an increase in automotive vehicles, parts, and engines.
  • Imports of services were nearly unchanged as an increase in other business services was mostly offset by a decrease in charges for the use of intellectual property, which decreased due to higher payments in June than in July for the rights to broadcast the 2014 soccer World Cup.

Goods by geographic area (seasonally adjusted, Census basis)

  • The goods deficit with the European Union decreased from $11.5 billion in June to $9.5 billion in July. Exports increased $0.5 billion to $24.8 billion, and imports decreased $1.5 billion to $34.3 billion.
  • The goods deficit with China decreased from $29.2 billion in June to $27.5 billion in July. Exports increased $0.1 billion to $9.8 billion, and imports decreased $1.6 billion to $37.3 billion.
  • The goods deficit with OPEC increased from $3.6 billion in June to $4.9 billion in July. Exports increased $0.3 billion to $6.9 billion, and imports increased $1.5 billion to $11.8 billion.

See the full report.

June 2014 Trade Gap is $41.5 Billion

The U.S. monthly international trade deficit decreased in June 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $44.7 billion in May (revised) to $41.5 billion in June as exports increased and imports decreased. The previously published May deficit was $44.4 billion. The goods deficit decreased $3.0 billion from May to $60.3 billion in June; the services surplus increased $0.1 billion from May to $18.7 billion in June.

trad0614_fax

Exports
Exports of goods and services increased $0.3 billion in June to $195.9 billion, reflecting increases in both exports of goods and exports of services.*

  • The increase in exports of goods mainly reflected increases in consumer goods and in automotive vehicles, parts, and engines. Other goods and foods, feeds, and beverages decreased.
  •  The increase in exports of services was more than accounted for by an increase in travel (for all purposes including education). Partly offsetting was a decrease in transport, which includes freight and port services and passenger fares.

Imports
Imports of goods and services decreased $2.9 billion in June to $237.4 billion, mainly reflecting a decrease in imports of goods. Imports of services were nearly unchanged.

  • The decrease in imports of goods mostly reflected decreases in consumer goods and in automotive vehicles, parts, and engines.
  • Imports of services were nearly unchanged as an increase in charges for the use of intellectual property, which included payments for the rights to broadcast the portion of the 2014 soccer World Cup that occurred in June, was mostly offset by a decrease in transport.

Goods by geographic area (seasonally adjusted, Census basis)

  •  The goods deficit with the European Union decreased from $12.8 billion in May to $11.5 billion in June. Exports increased $0.8 billion to $24.2 billion, and imports decreased $0.5 billion to $35.7 billion.
  •  The goods deficit with India decreased from $2.1 billion in May to $1.3 billion in June. Exports increased $0.3 billion to $1.9 billion, and imports decreased $0.5 billion to $3.2 billion.
  •  The goods deficit with China increased from $28.1 billion in May to $29.2 billion in June. Exports were nearly unchanged at $9.7 billion, and imports increased $1.0 billion to $38.9 billion.

Read the full report.

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* In June, exports of goods on a balance of payments basis increased, but exports of goods on a Census basis decreased. Total goods trade data are reported on a balance of payments basis. Commodity and country data for goods are on a Census basis.

 

March 2014 Trade Gap Is $40.4 Billion

The U.S. monthly international trade deficit decreased in March 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $41.9 billion in February (revised) to $40.4 billion in March as exports increased more than imports. The previously published February deficit was $42.3 billion. The goods deficit decreased $0.6 billion from February to $60.7 billion in March; the services surplus increased $0.9 billion from February to $20.4 billion in March.

TradeGoodsServices_March2014

Exports
Exports of goods and services increased $3.9 billion in March to $193.9 billion, mainly reflecting an increase in exports of goods. Exports of services also increased.

  • The increase in exports of goods mostly reflected increases in capital goods, in industrial supplies and materials, and in automotive vehicles, parts, and engines. Partly offsetting these increases was a decrease in consumer goods.
  • The increase in exports of services mostly reflected increases in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services, and in passenger fares. Partly offsetting these increases was a decrease in travel.

Imports
Imports of goods and services increased $2.5 billion in March to $234.3 billion, reflecting an increase in imports of goods. Imports of services decreased.

  • The increase in imports of goods was more than accounted for by increases in consumer goods, in foods, feeds, and beverages, in capital goods, and in other goods. Partly offsetting these increases was a decrease in industrial supplies and materials.
  • The decrease in imports of services was mainly accounted for by a decrease in royalties and license fees, which in February included payments for the rights to broadcast the 2014 Winter Olympic Games.

Goods by geographic area (not seasonally adjusted)

  • The goods deficit with the European Union increased from $9.1 billion in February to $11.5 billion in March. Exports increased $3.6 billion to $24.6 billion, and imports increased $6.0 billion to $36.1 billion.
  • The goods deficit with China decreased from $20.9 billion in February to $20.4 billion in March. Exports increased $1.0 billion to $10.8 billion, and imports increased $0.5 billion to $31.2 billion.
  • The goods deficit with Mexico increased from $4.0 billion in February to $5.1 billion in March. Exports increased $1.5 billion to $19.9 billion, and imports increased $2.6 billion to $25.0 billion.

Read the full report