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U.S. INTERNATIONAL TRADE
IN GOODS AND SERVICES
SEPTEMBER 1997
The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total September exports of $78.0 billion and imports of $89.1 billion resulted in a goods and services deficit of $11.1 billion, $1.6 billion more than the $9.5 billion in August, revised. September exports were $0.6 billion less than August exports of
$78.6 billion. September imports were $1.0 billion more than August imports of $88.0 billion.
In September, the goods deficit increased $1.6 billion from August to $18.1 billion, and the services surplus was virtually unchanged at $7.1 billion. Exports of goods decreased to $56.5 billion from $57.3 billion, and imports of goods increased to $74.7 billion from $73.9 billion. Exports of services increased to $21.5 billion from $21.3 billion, and imports of services increased to $14.4 billion from $14.2 billion.
The August to September change in exports of goods reflected decreases in automotive vehicles, parts, and engines of $0.3 billion (primarily passenger cars); other goods ($0.2 billion); industrial supplies and materials ($0.2 billion); and capital goods ($0.1 billion). An increase occurred in foods, feeds, and beverages of $0.1 billion. Consumer goods were virtually unchanged.
The August to September change in imports of goods reflected increases in consumer goods of $0.6 billion (primarily apparel products, gem diamonds, and artwork) and industrial supplies and materials ($0.4 billion). Decreases occurred in capital goods of $0.2 billion and automotive vehicles, parts, and engines ($0.1 billion). Other goods and foods, feeds, and beverages were virtually unchanged.
For the three months ending in September, exports of goods and services averaged $78.1 billion, while imports of goods and services averaged $88.3 billion, resulting in an average trade deficit of $10.2 billion. For the three months ending in August, the average trade deficit was $9.3 billion, reflecting average exports of $78.3 billion and average imports of $87.5 billion.
Selected Services Details
Services exports increased $0.2 billion from August to September, mainly reflecting an increase in travel.
Services imports increased $0.3 billion from August to September, reflecting small increases in several categories.
Selected Not Seasonally Adjusted Goods Details
The September figures showed surpluses, in billions of dollars, with Brazil $0.7 (for August $0.5), Australia $0.6 ($0.6), Argentina $0.3 ($0.3), Egypt $0.2 ($0.5), and Hong Kong $0.1 ($0.4). Deficits were recorded, in billions of dollars, with China $5.5 ($5.2), Japan $5.1 ($4.5), OPEC $1.8 ($2.0), Taiwan $1.4 ($1.1), Mexico $1.3 ($1.0), Canada $1.3 ($1.3), Western Europe $1.1 $2.0), Korea $0.4 (virtually zero), and Singapore $0.4 ($0.2).
Advanced technology products (ATP) exports were $15.2 billion in September and imports were $13.8 billion, resulting in a surplus of $1.4 billion, $0.3 billion less than the August surplus of $1.7 billion. September exports were $0.9 billion more than the $14.3 billion in August, while imports were $1.2 billion more than the $12.6 billion in August.
Carry-over in September was $0.8 billion (1.4 percent) for exports and $0.7 billion (0.9 percent) for imports. For August, revised export carry-over was $0.1 billion (0.2 percent), revised down from $0.7 billion (1.2 percent). For August, revised import carry-over was $0.2 billion (0.3 percent), revised down from $1.0 billion (1.4 percent).
U.S. International Trade
In Goods And Services-Y
Total Goods-X Services Balance Sep '97 11,068 18,142 7,074 Aug '97-R 9,457 16,559 7,102 Jan-Sep '97 86,485 148,470 61,985 Exports Sep '97 77,999 56,508 21,491 Aug '97-R 78,578 57,326 21,252 Jan-Sep '97 692,666 504,518 188,148 Imports Sep '97 89,067 74,650 14,417 Aug '97-R 88,035 73,885 14,150 Jan-Sep '97 779,159 652,987 126,163 R"Revised. X"Data presented on a Balance of Payments (BOP) Basis. Y"In millions of dollars. Details may not equal totals due seasonal adjustment and rounding.
November 20, 1997U.S. Department of Commerce
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