U.S. International Trade in Goods and Services Highlights

November 13, 2008

Goods and Services Deficit Decreases in September 2008

The Nation's international deficit in goods and services decreased to $56.5 billion in September from $59.1 billion (revised) in August, as imports decreased more than exports.

Goods and Services

• Exports decreased to $155.4 billion in September from $165.3 billion in August. Goods were $108.1 billion in September, down from $117.9 billion in August, and services were $47.3 billion in September, down from $47.4 billion in August.
  
  
• Imports decreased to $211.9 billion in September from $224.4 billion in August. Goods were $177.7 billion in September, down from $188.9 billion in August, and services were $34.2 billion in September, down from $35.4 billion in August.
  
  
• For goods, the deficit was $69.6 billion in September, down from $71.1 billion in August. For services, the surplus was $13.1 billion in September, up from $12.0 billion in August.
  

Goods by Category

• The August to September change in exports of goods reflected decreases in capital goods ($4.2 billion); industrial supplies and materials ($4.1 billion); foods, feeds, and beverages ($1.1 billion); consumer goods ($0.5 billion); other goods ($0.4 billion); and automotive vehicles, parts, and engines ($0.1 billion).
  
  
• The August to September change in imports of goods reflected decreases in industrial supplies and materials ($8.1 billion); consumer goods ($3.4 billion); automotive vehicles, parts, and engines ($0.7 billion); foods, feeds, and beverages ($0.2 billion); and other goods ($0.1 billion). An increase occurred in capital goods ($0.5 billion).

Services by Category

• The August to September change in exports of services reflected decreases in travel ($0.2 billion), other transportation ($0.1 billion), which includes freight and port services, and transfers under U.S. military sales contracts ($0.1 billion). An increase in other private services ($0.3 billion), which includes items such as business, professional, and technical services, insurance services, and financial services, was partly offsetting.
  
  
• The August to September change in imports of services reflected decreases in royalties and license fees ($0.9 billion), which had been boosted in August by payments for the rights to broadcast the 2008 Summer Olympic Games, travel ($0.2 billion), other transportation ($0.1 billion), and passenger fares ($0.1 billion). Other private services increased ($0.1 billion).

Goods by Geographic Area (Not Seasonally Adjusted)

• The goods deficit with China increased from $25.3 billion in August to $27.8 billion in September. Exports decreased $1.2 billion (primarily civilian aircraft) to $5.3 billion, while imports increased $1.2 billion (primarily TV’s and VCR’s; toys, games ,and sporting goods; and photo equipment) to $33.1 billion.
  
  
• The goods deficit with the European Union increased from $6.8 billion in August to $8.3 billion in September. Exports decreased $2.7 billion (primarily fuel oil and organic chemicals) to $20.9 billion, while imports decreased $1.1 billion (primarily pharmaceutical preparations and nuclear fuel materials) to $29.3 billion.
  
  
• The goods deficit with Mexico decreased from $5.9 billion in August to $4.9 billion in September. Exports decreased $0.7 billion (primarily petroleum products and fuel oil) to $13.0 billion, while imports decreased $1.6 billion (primarily crude oil) to $18.0 billion.

  This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release:

  U.S.International Trade in Goods and Services: September 2008 .

  This and more information is provided in the U.S. Census Bureau and U.S. Bureau of Economic Analysis press release, U.S. International Trade in Goods and Services: September 2008. For further information on goods, contact Maria Iseman, Foreign Trade Division, U.S. Census Bureau, on (301) 763-2311; on services, contact Christopher Bach, U.S. Bureau of Economic Analysis, on (202) 606-9545.
  
  NOTE: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the information section on page A-1 of the FT-900 release, or at www.census.gov/ft900 or http://www.bea.gov/bea/di/home/trade.htm.

  The next release is December 11, 2008

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  Note: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the Information Section (PDF, 53k) (TXT, 23k)

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  Related sites:

  • U.S. Department of Commerce
    • U.S. Census Bureau, Foreign Trade Division
    • Bureau of Economic Analysis