U.S. March exports were $1.7 billion less than February exports of $186.0 billion. | WPN World People News

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced that total March exports of $184.3 billion and imports of $223.1 billion resulted in a goods and services deficit of $38.8 billion, down from $43.6 billion in February, revised. March exports were $1.7 billion less than February exports of $186.0 billion. March imports were $6.5 billion less than February imports of $229.6 billion.

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 March exports of $184.3 billion and imports of $223.1
billion resulted in a goods and services deficit of $38.8 billion, down from $43.6 billion in
February, revised. March exports were $1.7 billion less than February exports of $186.0
billion. March imports were $6.5 billion less than February imports of $229.6 billion.

In March, the goods deficit decreased $4.6 billion from February to $56.1 billion, and the
services surplus increased $0.2 billion from February to $17.3 billion. Exports of goods
decreased $1.8 billion to $130.3 billion, and imports of goods decreased $6.4 billion to
$186.5 billion. Exports of services increased $0.1 billion to $53.9 billion, and imports of
services decreased $0.1 billion to $36.6 billion.

The goods and services deficit decreased $12.9 billion from March 2012 to March 2013. Exports
were down $0.4 billion, or 0.2 percent, and imports were down $13.3 billion, or 5.6 percent.

Goods (Census Basis)

The February to March decrease in exports of goods reflected decreases in foods, feeds,
and beverages ($1.1 billion); automotive vehicles, parts, and engines ($0.3 billion);
industrial supplies and materials ($0.3 billion); capital goods ($0.3 billion); and consumer
goods ($0.3 billion). An increase occurred in other goods ($0.2 billion).

The February to March decrease in imports of goods reflected decreases in consumer goods
($3.4 billion); capital goods ($1.5 billion); industrial supplies and materials ($1.4 billion);
and automotive vehicles, parts, and engines ($0.8 billion). An increase occurred in other goods
($0.9 billion). Foods, feeds, and beverages were virtually unchanged.

The March 2012 to March 2013 decrease in exports of goods reflected decreases in capital goods
($1.4 billion) and industrial supplies and materials ($1.0 billion). Increases occurred in
foods, feeds, and beverages ($0.2 billion); automotive vehicles, parts, and engines
($0.2 billion); and other goods ($0.1 billion). Consumer goods were virtually unchanged.

The March 2012 to March 2013 decrease in imports of goods reflected decreases in industrial
supplies and materials ($8.2 billion); capital goods ($3.1 billion); consumer goods
($2.0 billion); and automotive vehicles, parts, and engines ($0.2 billion). Increases occurred
in foods, feeds, and beverages ($0.4 billion) and other goods ($0.3 billion).

Services

Exports of services increased $0.1 billion from February to March. The largest increase was
in travel ($0.1 billion). Changes in the other categories of services exports were
relatively small.

Imports of services decreased $0.1 billion from February to March. A decrease in other
transportation ($0.3 billion), which includes freight and port services, was largely offset by
increases in travel ($0.1 billion) and passenger fares ($0.1 billion). Changes in the other
categories of services imports were relatively small.

The March 2012 to March 2013 increase in exports of services was $1.2 billion or 2.3 percent.
The largest increases were in other private services ($0.6 billion), which includes items such
as business, professional, and technical services, insurance services, and financial services,
and in travel ($0.3 billion). Within other private services, the largest increase was in
insurance services.

The March 2012 to March 2013 decrease in imports of services was $0.3 billion or 0.8 percent.
Decreases in direct defense expenditures ($0.2 billion), travel ($0.2 billion), and royalties
and license fees ($0.1 billion) were partly offset by an increase in other private services
($0.2 billion). Within other private services, the largest increase was in insurance services.

Goods and Services Moving Average

For the three months ending in March, exports of goods and services averaged $184.9 billion,
while imports of goods and services averaged $227.2 billion, resulting in an average trade
deficit of $42.3 billion. For the three months ending in February, the average trade deficit
was $42.1 billion, reflecting average exports of $185.7 billion and average imports of
$227.7 billion.

Selected Not Seasonally Adjusted Goods Details

The March figures show surpluses, in billions of dollars, with Hong Kong $3.2 ($3.3 for
February), Brazil $1.7 ($1.7), Australia $1.5 ($1.3), and Singapore $1.4 ($0.9). Deficits were
recorded, in billions of dollars, with China $17.9 ($23.4), European Union $9.9 ($8.8),
Japan $6.6 ($5.9), Mexico $5.3 ($4.3), Germany $5.1 ($4.5), OPEC $4.5 ($3.6), Canada $2.3
($2.5), Ireland $2.1 ($2.2), Saudi Arabia $2.1 ($1.8), India $1.8 ($1.2), Korea $1.3 ($1.2),
and Venezuela $1.3 ($1.1).

Advanced technology products exports were $27.9 billion in March and imports were $31.3 billion,
resulting in a deficit of $3.4 billion. March exports were $4.9 billion more than the $23.0
billion in February, while March imports were $3.4 billion more than the $28.0 billion
in February.

Revisions

Census Basis (not seasonally adjusted)

For February, exports of goods were virtually unrevised and imports of goods were revised up
$0.5 billion. Goods carry-over in March was $0.1 billion (0.1 percent) for exports and $1.5
billion (0.8 percent) for imports. For February, revised export carry-over was virtually zero
and revised import carry-over was $0.1 billion (0.1 percent).

Balance of Payments Basis (seasonally adjusted)

For February, exports of goods were virtually unrevised and imports of goods were revised up
$0.5 billion.

For February, exports of services were virtually unrevised and imports of services were revised
up $0.2 billion, reflecting upward revisions in travel and passenger fares.

Source: U.S. Bureau of Economic Analysis