EconoIndicators

International Trade At a Glance

• Exports: $142.3 billion
• Monthly Change: Up $0.6 billion
• Imports: $205.4 billion
• Monthly Change: Up $5.9 billion
• Trade Deficit: $63.1 billion
• Monthly Change: Up $5.3 billion

Technorati Tags: trade, deficit, international, foreign, trade

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
November 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 November exports
of $142.3 billion and imports of $205.4 billion resulted in
a goods and services deficit of $63.1 billion, up from
$57.8 billion in October, revised. November exports
were $0.6 billion more than October exports of $141.7
billion. November imports were $6.0 billion more than
October imports of $199.4 billion.

In November, the goods deficit increased $5.8 billion
from October to $72.7 billion, and the services surplus
increased $0.4 billion to $9.6 billion. Exports of goods
increased $0.1 billion to $101.0 billion, and imports of
goods increased $5.9 billion to $173.7 billion. Exports of
services increased $0.5 billion to $41.4 billion, and
imports of services increased $0.1 billion to $31.8 billion.

In November, the goods and services deficit was up
$4.7 billion from November 2006. Exports were up $16.4
billion, or 13.0 percent, and imports were up $21.1 billion,
or 11.4 percent.

Goods

The October to November change in exports of goods
reflected increases in automotive vehicles, parts, and
engines ($0.5 billion); foods, feeds, and beverages ($0.4
billion); other goods ($0.4 billion); and industrial supplies
and materials ($0.2 billion). Decreases occurred in
capital goods ($0.9 billion) and consumer goods ($0.1
billion).

The October to November change in imports of goods
reflected increases in industrial supplies and materials
($4.7 billion); consumer goods ($0.8 billion); other goods
($0.3 billion); foods, feeds, and beverages ($0.2 billion);
capital goods ($0.2 billion); and automotive vehicles,
parts, and engines ($0.1 billion).

The November 2006 to November 2007 change in
exports of goods reflected increases in industrial supplies
and materials ($4.0 billion); foods, feeds, and beverages
($2.5 billion); capital goods ($2.2 billion); automotive
vehicles, parts, and engines ($1.8 billion); consumer
goods ($1.0 billion); and other goods ($0.5 billion).

The November 2006 to November 2007 change in
imports of goods reflected increases in industrial supplies
and materials ($12.2 billion); capital goods ($2.1 billion);
consumer goods ($1.9 billion); automotive vehicles, parts,
and engines ($1.2 billion); foods, feeds, and beverages
($0.7 billion); and other goods ($0.4 billion).

Services

Services exports increased $0.5 billion from October
to November. The increase was mostly accounted for by
increases in transfers under U.S. military sales contracts,
other transportation, which includes freight and port
services, and travel. Changes in other categories of
services exports were small.

Services imports increased $0.1 billion from October
to November. The increase was mostly accounted for by
an increase in other private services, which includes items
such as business, professional, and technical services,
insurance services, and financial services. Changes in
other categories of services imports were small.

From November 2006 to November 2007, services
exports increased $4.2 billion. The largest increases were
in travel ($1.6 billion) and other private services ($1.1
billion).

From November 2006 to November 2007, services
imports increased $2.4 billion. The largest increases were
in other private services ($1.1 billion) and travel ($0.5
billion).

Goods and Services Moving Average

For the three months ending in November, exports of
goods and services averaged $141.5 billion, while imports
of goods and services averaged $200.8 billion, resulting in
an average trade deficit of $59.3 billion. For the three
months ending in October, the average trade deficit was
$57.3 billion, reflecting average exports of $140.5 billion
and average imports of $197.7 billion.

Selected Not Seasonally Adjusted Goods Details

The November figures showed surpluses, in billions
of dollars, with Australia $1.0 ($0.9 for October), Hong
Kong $1.0 ($1.3), Singapore $0.6 ($0.7), and Egypt $0.3
($0.5). Deficits were recorded, in billions of dollars, with
China $24.0 ($25.9), Europe $12.0 ($13.7), OPEC $11.8
($11.0), the European Union $10.4 ($11.9), Mexico $7.6
($7.5), Japan $7.1 ($8.0), Canada $4.7 ($5.4), Taiwan $1.3
($1.4), and Korea $1.2 ($0.8).

Advanced technology products (ATP) exports were
$23.6 billion in November and imports were $30.0 billion,
resulting in a deficit of $6.4 billion. November exports
were $1.6 billion less than the $25.2 billion in October,
while imports were $1.9 billion less than the $31.8 billion
in October.

Revisions

Goods carry-over in November was $0.3 billion (0.3
percent) for exports and $1.3 billion (0.7 percent) for
imports. For October, revised export carry-over was $0.1
billion (0.1 percent), revised down from $0.4 billion (0.3
percent). For October, revised import carry-over was $0.5
billion (0.3 percent), revised down from $1.5 billion (0.8
percent).

Services exports for October were revised up $0.2
billion to $40.8 billion. The revision was mostly
accounted for by an upward revision in travel. Services
imports for October were virtually unrevised at $31.7
billion.

US Foreign Trade - November 2007

Source: Commerce Department, Census Bureau