EconoIndicators

International Trade At a Glance

• Exports: $141.7 billion
• Monthly Change: Up $1.3 billion
• Imports: $199.5 billion
• Monthly Change: Up $2 billion
• Trade Deficit: $57.8 billion
• Monthly Change: Up $0.7 billion

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U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
October 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 October exports of
$141.7 billion and imports of $199.5 billion resulted in a
goods and services deficit of $57.8 billion, $0.7 billion
more than the $57.1 billion in September, revised.
October exports were $1.3 billion more than September
exports of $140.4 billion. October imports were $2.0
billion more than September imports of $197.5 billion.

In October, the goods deficit increased $0.9 billion
from September to $66.8 billion, and the services surplus
increased $0.2 billion to $8.9 billion. Exports of goods
increased $0.7 billion to $101.1 billion, and imports of
goods increased $1.6 billion to $167.8 billion. Exports of
services increased $0.5 billion to $40.6 billion, and
imports of services increased $0.3 billion to $31.7 billion.

In October, the goods and services deficit was down
$0.3 billion from October 2006. Exports were up $17.1
billion, or 13.7 percent, and imports were up $16.7 billion,
or 9.2 percent.

Goods

The September to October change in exports of goods
reflected increases in capital goods ($1.3 billion) and
other goods ($0.7 billion). Decreases occurred in foods,
feeds, and beverages ($0.5 billion); consumer goods ($0.4
billion); and industrial supplies and materials ($0.2
billion). Automotive vehicles, parts, and engines were
virtually unchanged.

The September to October change in imports of
goods reflected increases in industrial supplies and
materials ($1.9 billion); consumer goods ($0.4 billion);
and automotive vehicles, parts, and engines ($0.1 billion).
Decreases occurred in capital goods ($0.5 billion) and
foods, feeds, and beverages ($0.1 billion). Other goods
were virtually unchanged.

The October 2006 to October 2007 change in exports
of goods reflected increases in capital goods ($3.7
billion); industrial supplies and materials ($3.5 billion);
food, feeds, and beverages ($2.1 billion); automotive
vehicles, parts, and engines ($1.6 billion); consumer
goods ($1.2 billion); and other goods ($0.5 billion).

The October 2006 to October 2007 change in imports
of goods reflected increases in industrial supplies and
materials ($7.9 billion); capital goods ($2.2 billion);
consumer goods ($1.9 billion); automotive vehicles, parts,
and engines ($1.3 billion); food, feeds, and beverages
($0.5 billion); and other goods ($0.1 billion).

Services

Services exports increased $0.5 billion from
September to October. The increase was mostly
accounted for by increases in other private services, which
includes items such as business, professional, and
technical services, insurance services, and financial
services, travel, and other transportation, which includes
freight and port services. Changes in other categories of
services exports were small.

Services imports increased $0.3 billion from
September to October. The increase was mostly
accounted for by an increase in other private services.
Changes in other categories of services imports were
small.

From October 2006 to October 2007, services exports
increased $4.2 billion. The largest increases were in
travel ($1.4 billion) and other private services ($1.4
billion).

From October 2006 to October 2007, services imports
increased $2.6 billion. The largest increases were in other
private services ($1.2 billion) and travel ($0.6 billion).

Goods and Services Moving Average

For the three months ending in October, exports of
goods and services averaged $140.5 billion, while imports
of goods and services averaged $197.8 billion, resulting in
an average trade deficit of $57.3 billion. For the three
months ending in September, the average trade deficit was
$57.7 billion, reflecting average exports of $139.2 billion
and average imports of $197.0 billion.

Selected Not Seasonally Adjusted Goods Details

The October figures showed surpluses, in billions of
dollars, with Hong Kong $1.3 ($1.4 for September),
Australia $0.9 ($1.0), Singapore $0.7 ($0.7), Egypt $0.5
($0.4), and Argentina $0.3 ($0.3). Deficits were recorded,
in billions of dollars, with China $25.9 ($23.8), Europe
$13.7 ($7.3), the European Union $11.9 ($6.4), OPEC
$11.0 ($11.1), Japan $8.0 ($6.2), Mexico $7.5 ($6.3),
Canada $5.2 ($4.9), Taiwan $1.4 ($1.3), and Korea $0.8
($0.9).

Advanced technology products (ATP) exports were
$25.1 billion in October and imports were $31.8 billion,
resulting in a deficit of $6.7 billion. October exports were
$2.3 billion more than the $22.9 billion in September,
while imports were $3.8 billion more than the $28.1
billion in September.

Revisions

Goods carry-over in October was $0.4 billion (0.3
percent) for exports and $1.5 billion (0.8 percent) for
imports. For September, revised export carry-over was
virtually unchanged at $0.1 billion (0.1 percent). For
September, revised import carry-over was $0.2 billion (0.1
percent), revised down from $0.9 billion (0.6 percent).

Services exports and imports for April through
September 2007 reflect the incorporation of more
comprehensive and revised quarterly and monthly data.
For services exports, the largest revisions over the entire
period were in royalties and license fees and other private
services. For services imports, the largest revision over
the entire period was in other private services.

Services exports for September were revised up $0.1
billion to $40.1 billion. The revision was accounted for by
upward revisions in royalties and license fees and other
private services, which were partly offset by downward
revisions in all other categories. Services imports for
September were revised up $0.7 billion to $31.3 billion.
The revision was mostly accounted for by upward
revisions in other private services and travel.

Foreign Trade - October 2007 [PDF]

Source: Commerce Department, Census Bureau