U.S. International Trade in Goods and Services, September 2018

Facebooktwittergoogle_pluslinkedinmail

U.S. International Trade in Goods and Services, September 2018

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $54.0 billion in September, up $0.7 billion from $53.3 billion in August, revised.

U.S. International Trade in Goods and Services Deficit
Deficit: $54.0 Billion +1.3%°
Exports: $212.6 Billion +1.5%°
Imports: $266.6 Billion +1.5%°
Next release: December 6, 2018

(°) Statistical significance is not applicable or not measurable.

Data adjusted for seasonality but not price changes

Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, November 2, 2018.

Goods and Services Trade Deficit, September 2018

Exports, Imports, and Balance (exhibit 1)

September exports were $212.6 billion, $3.1 billion more than August exports. September imports were $266.6 billion, $3.8 billion more than August imports.

The September increase in the goods and services deficit reflected an increase in the goods deficit of $0.6 billion to $77.2 billion and a decrease in the services surplus of $0.1 billion to $23.2 billion.

Year-to-date, the goods and services deficit increased $40.7 billion, or 10.1 percent, from the same period in 2017. Exports increased $143.8 billion or 8.2 percent. Imports increased $184.5 billion or 8.6 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit increased $2.8 billion to $52.5 billion for the three months ending in September.

  • Average exports decreased $0.2 billion to $211.0 billion in September.
  • Average imports increased $2.5 billion to $263.5 billion in September.

Year-over-year, the average goods and services deficit increased $8.2 billion from the three months ending in September 2017.

  • Average exports increased $14.7 billion from September 2017.
  • Average imports increased $22.9 billion from September 2017.

Exports (exhibits 3, 6, and 7)

Exports of goods increased $2.9 billion to $141.9 billion in September.

Exports of goods on a Census basis increased $2.8 billion.

  • Industrial supplies and materials increased $2.8 billion.
    • Other petroleum products increased $1.1 billion.
    • Nonmonetary gold increased $1.0 billion.
  • Capital goods increased $1.1 billion.
    • Civilian aircraft increased $1.2 billion.
  • Foods, feeds, and beverages decreased $1.0 billion.
    • Soybeans decreased $0.7 billion.

Net balance of payments adjustments increased $0.1 billion.

Exports of services increased $0.3 billion to $70.7 billion in September.

  • Transport increased $0.2 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods increased $3.5 billion to $219.1 billion in September.

Imports of goods on a Census basis increased $3.7 billion.

  • Capital goods increased $2.4 billion.
    • Telecommunications equipment increased $0.5 billion.
    • Civilian aircraft engines increased $0.5 billion.
    • Computer accessories increased $0.4 billion.
    • Computers increased $0.4 billion.
  • Consumer goods increased $2.0 billion.
    • Other textile apparel and household goods increased $0.5 billion.
    • Toys, games, and sporting goods increased $0.4 billion.
    • Cell phones and other household goods increased $0.3 billion.
  • Automotive vehicles, parts, and engines decreased $0.6 billion.
    • Trucks, buses, and special purpose vehicles decreased $0.6 billion.

Net balance of payments adjustments decreased $0.2 billion.

Imports of services increased $0.4 billion to $47.5 billion in September.

  • Transport increased $0.4 billion.

Real Goods in 2012 Dollars – Census Basis (exhibit 11)

The real goods deficit increased $0.8 billion to $87.0 billion in September.

  • Real exports of goods increased $3.1 billion to $151.0 billion.
  • Real imports of goods increased $3.9 billion to $238.1 billion.

Revisions

Revisions to August exports

  • Exports of goods were revised up $0.1 billion.
  • Exports of services were revised down $0.1 billion.

Revisions to August imports

  • Imports of goods were revised down less than $0.1 billion.
  • Imports of services were revised up $0.1 billion.

Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)

The September figures show surpluses, in billions of dollars, with South and Central America ($3.2), Hong Kong ($2.4), Brazil ($0.6), and Singapore ($0.1). Deficits were recorded, in billions of dollars, with China ($37.4), European Union ($14.2), Mexico ($7.6), Germany ($5.2), Japan ($4.9), Italy ($2.3), OPEC ($2.3), Canada ($2.2), South Korea ($2.0), India ($1.7), Saudi Arabia ($1.5), France ($1.5), Taiwan ($0.9), and United Kingdom ($0.2).

  • The deficit with China increased $3.0 billion to $37.4 billion in September. Exports increased $0.4 billion to $10.2 billion and imports increased $3.5 billion to $47.7 billion.
  • The deficit with members of OPEC increased $1.3 billion to $2.3 billion in September. Exports decreased $0.6 billion to $4.6 billion and imports increased $0.8 billion to $6.9 billion.
  • The deficit with Mexico decreased $1.1 billion to $7.6 billion in September. Exports increased $1.1 billion to $22.5 billion and imports decreased less than $0.1 billion to $30.1 billion.

*             *             *

All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in Exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s Web site at www.bea.gov/news/schedule.

*             *             *

Next release: December 6, 2018, at 8:30 A.M. EST

U.S. International Trade in Goods and Services: October 2018

Facebooktwittergoogle_pluslinkedinmail