EconoIndicators / International Trade (US)

International Trade At a Glance

Total Exports: $134.5 billion
Total Imports: $192.7 billion
Trade Deficit: $58.1 billion
Import Change: Up $0.9 billion
Export Change: Up $2.0 billion
Trade Deficit Change: Down $1.1 billion

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U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
June 2007

Goods and Services

The U.S. Census Bureau and the U.S. Bureau of
Economic Analysis, through the Department of Commerce,
announced today that total June exports of $134.5 billion
and imports of $192.7 billion resulted in a goods and
services deficit of $58.1 billion, compared with
$59.2 billion in May, revised. June exports were
$2.0 billion more than May exports of $132.6 billion.
June imports were $0.9 billion more than May imports
of $191.7 billion.

In June, the goods deficit decreased $1.0 billion
from May to $67.5 billion, and the services surplus was
virtually unchanged at $9.4 billion. Exports of goods
increased $1.7 billion to $95.2 billion, and imports of
goods increased $0.8 billion to $162.7 billion. Exports
of services increased $0.2 billion to $39.4 billion, and
imports of services increased $0.2 billion to $30.0 billion.

In June, the goods and services deficit was down
$6.4 billion from June 2006. Exports were up $13.5 billion,
or 11.2 percent, and imports were up $7.1 billion, or 3.8 percent.

Goods

The May to June change in exports of goods reflected
increases in industrial supplies and materials ($1.2 billion);
other goods ($0.3 billion); automotive vehicles, parts, and
engines; capital goods ($0.1 billion); and foods, feeds, and
beverages ($0.1 billion). A decrease occurred in consumer
goods ($0.2 billion).

The May to June change in imports of goods reflected
increases in automotive vehicles, parts, and engines
($0.9 billion); capital goods ($0.6 billion); and other
goods ($0.1 billion). A decrease occurred in consumer goods
($0.2 billion). Industrial supplies and materials and foods,
feeds, and beverages were virtually unchanged.

The June 2006 to June 2007 change in exports of goods
reflected increases in industrial supplies and materials
($3.5 billion); capital goods ($1.8 billion); foods, feeds,
and beverages ($1.2 billion); consumer goods ($1.0 billion);
automotive vehicles, parts, and engines ($0.9 billion); and
other goods ($0.7 billion).

The June 2006 to June 2007 change in imports of goods
reflected increases in capital goods ($2.4 billion); consumer
goods ($2.2 billion); industrial supplies and materials
($0.7 billion); foods, feeds, and beverages ($0.6 billion);
and other goods ($0.2 billion). A decrease occurred in
automotive vehicles, parts, and engines ($0.5 billion).

Services

Services exports increased $0.2 billion from May to June.
The increase was accounted for by increases in other private
services (which includes items such as business, professional,
and technical services, insurance services, and financial services)
and travel, which were partly offset by a decrease in transfers
under U.S. military sales contracts. Changes in other
categories of services exports were small.
Services imports increased $0.2 billion from May to June.
The increase was accounted for by increases in other private
services and travel, which were partly offset by a decrease in
other transportation (which includes freight and port services).
Changes in other categories of services imports were small.

From June 2006 to June 2007, services exports increased
$4.6 billion. The largest increases were in other private
services ($2.5 billion), travel ($1.0 billion), and royalties
and license fees ($0.6 billion).

From June 2006 to June 2007, services imports increased
$1.3 billion. The largest increases were in other private
services ($1.1 billion) and travel ($0.2 billion).

Goods and Services Moving Average

For the three months ending in June, exports of goods and
services averaged $132.1 billion, while imports of goods and
services averaged $190.7 billion, resulting in an average trade
deficit of $58.7 billion. For the three months ending in May,
the average trade deficit was $60.1 billion, reflecting average
exports of $130.3 billion and average imports of $190.4 billion.

Selected Not Seasonally Adjusted Goods Details

The June figures showed surpluses, in billions of dollars,
with Hong Kong $1.2 ($1.0 for May), Singapore $1.0 ($0.2),
Australia $0.9 ($0.8), Argentina $0.2 ($0.1), and Egypt $0.2
(virtually zero). Deficits were recorded, in billions of dollars,
with China $21.2 ($20.0), OPEC $9.9 ($11.0), Europe $9.6 ($9.9),
the European Union $9.2 ($8.8), Mexico $6.4 ($5.9), Japan $6.3 ($5.9),
Canada $5.8 ($5.2), Korea $0.9 ($1.5), Taiwan $0.7 ($1.0), and
Brazil $0.4 ($0.2).

Advanced technology products (ATP) exports were $24.2 billion
in June and imports were $27.5 billion, resulting in a deficit of
$3.3 billion. June exports were $1.9 billion more than the
$22.3 billion in May, while imports were $2.1 billion more than
the $25.4 billion in May.

Revisions

Goods carry-over in June was $0.4 billion (0.4 percent) for
exports and $1.1 billion (0.7 percent) for imports. For May, revised
export carry-over was $0.1 billion (0.1 percent), revised down from
$0.2 billion (0.3 percent). For May, revised import carry-over was
$0.2 billion (0.1 percent), revised down from $1.3 billion
(0.8 percent).

Services exports for May were revised up $0.4 billion to $39.1
billion. The revision was mostly accounted for by upward revisions
in travel and passenger fares. Services imports for May were virtually
unchanged at $29.8 billion.