International Trade At a Glance
- Exports: $164.4 billion
- Monthly Change: Up $6.4 billion
- Imports: $221.2 billion
- Monthly Change: Up $3.9 billion
- Trade Deficit: $56.8 billion
- Monthly Change: Down $2.4 billion
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U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
June 2008
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
$164.4 billion and imports of $221.2 billion resulted in a
goods and services deficit of $56.8 billion, down from
$59.2 billion in May, revised. June exports were $6.4
billion more than May exports of $158.0 billion. June
imports were $3.9 billion more than May imports of
$217.2 billion.
In June, the goods deficit decreased $2.1 billion
from May to $70.0 billion, and the services surplus
increased $0.4 billion to $13.3 billion. Exports of goods
increased $5.7 billion to $116.7 billion, and imports of
goods increased $3.6 billion to $186.7 billion. Exports
of services increased $0.7 billion to $47.7 billion, and
imports of services increased $0.3 billion to $34.5
billion.
In June, the goods and services deficit decreased
$2.4 billion from June 2007. Exports were up $28.7
billion, or 21.1 percent, and imports were up $26.3
billion, or 13.5 percent.
Goods
The May to June change in exports of goods
reflected increases in industrial supplies and materials
($2.8 billion); capital goods ($1.2 billion); foods, feeds,
and beverages ($0.9 billion); consumer goods ($0.7
billion); and automotive vehicles, parts, and engines
($0.6 billion). A decrease occurred in other goods ($0.2
billion).
The May to June change in imports of goods reflected
increases in industrial supplies and materials ($5.6
billion); other goods ($0.1 billion); and automotive
vehicles, parts, and engines ($0.1 billion). Decreases
occurred in capital goods ($1.4 billion); consumer goods
($0.6 billion); and foods, feeds, and beverages ($0.1
billion).
The June 2007 to June 2008 change in exports of
goods reflected increases in industrial supplies and
materials ($10.0 billion); capital goods ($3.9 billion);
foods, feeds, and beverages ($3.8 billion); consumer
goods ($2.3 billion); automotive vehicles, parts, and
engines ($0.8 billion); and other goods ($0.6 billion).
The June 2007 to June 2008 change in imports of
goods reflected increases in industrial supplies and
materials ($19.8 billion); consumer goods ($1.8 billion);
capital goods ($1.2 billion); foods, feeds, and beverages
($0.7 billion); and other goods ($0.4 billion). A
decrease occurred in automotive vehicles, parts, and
engines ($0.9 billion).
Services
Services exports increased $0.7 billion from May to
June. 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), royalties and
license fees, passenger fares, and other transportation
(which includes freight and port services).
Services imports increased $0.3 billion from May to
June. The increase was mostly accounted for by
increases in other private services and passenger fares.
Changes in other categories of services imports were
small.
From June 2007 to June 2008, services exports
increased $6.8 billion. The largest increases were in
other private services ($2.3 billion), travel ($1.7 billion),
other transportation ($1.1 billion), and royalties and
license fees ($1.0 billion). Within other private services,
the largest increase was in business, professional, and
technical services.
From June 2007 to June 2008, services imports
increased $3.1 billion. The largest increases were in
other private services ($1.2 billion), travel ($0.6 billion),
and other transportation ($0.6 billion). Within other
private services, the largest increases were in business,
professional, and technical services and insurance
services.
Goods and Services Moving Average
For the three months ending in June, exports of
goods and services averaged $159.5 billion, while
imports of goods and services averaged $218.4 billion,
resulting in an average trade deficit of $58.8 billion. For
the three months ending in May, the average trade deficit
was $58.7 billion, reflecting average exports of $154.9
billion and average imports of $213.7 billion.
Selected Not Seasonally Adjusted Goods Details
The June figures showed surpluses, in billions of
dollars, with Hong Kong $1.8 ($1.4 for May), Singapore
$1.5 ($1.3), Australia $1.0 ($1.1), and Egypt $0.4 ($0.3).
Deficits were recorded, in billions of dollars, with China
$21.4 ($21.0), OPEC $18.1 ($17.9), the European Union
$8.2 ($7.9), Canada $7.2 ($5.4), Japan $6.1 ($5.0),
Mexico $5.7 ($6.6), Venezuela $4.6 ($3.9), Nigeria $3.3
($3.2), Taiwan $0.6 ($0.6), and Korea $0.5 ($1.1).
Advanced technology products (ATP) exports were
$25.0 billion in June and imports were $28.9 billion,
resulting in a deficit of $3.9 billion. June exports were
$1.0 billion more than the $24.1 billion in May, while
imports were $1.3 billion more than the $27.6 billion in
May.
Revisions
Goods carry-over in June was $0.8 billion (0.7
percent) for exports and $1.4 billion (0.7 percent) for
imports. For May, revised export carry-over was $0.2
billion (0.1 percent), revised down from $0.7 billion (0.6
percent). For May, revised import carry-over was $0.1
billion (0.1 percent), revised down from $1.5 billion (0.8
percent).
Services exports for May were revised up $0.3
billion to $47.0 billion. The revision was mostly
accounted for by upward revisions in travel and
passenger fares. Services imports for May were revised
up $0.1 billion to $34.1 billion. The revision was more
than accounted for by an upward revision in travel.
Foreign Trade (US) - June 2008 [PDF]
Foreign Trade (US) - June 2008 [Excel]
Source: Department of Commerce, Census Bureau
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