BEA News: U.S. International Trade in Goods and Services, February 2018

There's a two-month system delay publishing this data.
PLEASE NOTE: 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/newsreleases/international/trade/tradnewsrelease.htm.
The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/.
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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Thursday, April 5, 2018

U.S. International Trade in Goods and Services
February 2018

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $57.6 billion in February, up $0.9 billion from $56.7 billion in January, revised.

Exports, Imports, and Balance (exhibit 1) February exports were $204.4 billion, $3.5 billion more than January exports. February imports were $262.0 billion, $4.4 billion more than January imports. The February increase in the goods and services deficit reflected an increase in the goods deficit of $0.3 billion to $77.0 billion and a decrease in the services surplus of $0.6 billion to $19.4 billion. Year-to-date, the goods and services deficit increased $21.1 billion, or 22.7 percent, from the same period in 2017. Exports increased $22.4 billion or 5.9 percent. Imports increased $43.6 billion or 9.1 percent. Three-Month Moving Averages (exhibit 2) The average goods and services deficit increased $2.2 billion to $56.1 billion for the three months ending in February. * Average exports increased $1.4 billion to $203.0 billion in February. * Average imports increased $3.6 billion to $259.1 billion in February. Year-over-year, the average goods and services deficit increased $10.1 billion from the three months ending in February 2017. * Average exports increased $12.2 billion from February 2017. * Average imports increased $22.3 billion from February 2017. Exports (exhibits 3, 6, and 7) Exports of goods increased $3.0 billion to $137.2 billion in February. Exports of goods on a Census basis increased $3.1 billion. * Industrial supplies and materials increased $2.0 billion. o Nonmonetary gold increased $0.6 billion. o Crude oil increased $0.3 billion. o Natural gas increased $0.3 billion. * Automotive vehicles, parts, and engines increased $0.9 billion. o Passenger cars increased $0.7 billion. * Capital goods increased $0.7 billion. o Civilian aircraft increased $0.2 billion. o Drilling and oilfield equipment increased $0.2 billion. * Consumer goods decreased $0.8 billion. o Pharmaceutical preparations decreased $0.6 billion. Net balance of payments adjustments decreased $0.1 billion. Exports of services increased $0.5 billion to $67.3 billion in February. * Transport increased $0.2 billion. * Travel (for all purposes including education) increased $0.1 billion. * Charges for the use of intellectual property increased $0.1 billion. Imports (exhibits 4, 6, and 8) Imports of goods increased $3.3 billion to $214.2 billion in February. Imports of goods on a Census basis increased $3.5 billion. * Capital goods increased $1.8 billion. o Civilian aircraft increased $0.5 billion. o Materials-handling equipment increased $0.3 billion. o Computers increased $0.3 billion. * Industrial supplies and materials increased $0.8 billion. o Crude oil increased $0.7 billion. * Foods, feeds, and beverages increased $0.8 billion. Net balance of payments adjustments decreased $0.2 billion. Imports of services increased $1.1 billion to $47.8 billion in February. * The largest increase was in charges for the use of intellectual property ($1.0 billion). The increase reflects payments for the rights to broadcast the 2018 Winter Olympic Games. * The largest decrease was in travel (for all purposes including education) ($0.2 billion). Real Goods in 2009 Dollars – Census Basis (exhibit 11) The real goods deficit decreased $0.9 billion to $69.1 billion in February. * Real exports of goods increased $2.5 billion to $129.4 billion. * Real imports of goods increased $1.7 billion to $198.5 billion. Revisions Revisions to January exports * Exports of goods were revised down $0.1 billion. * Exports of services were revised up $0.1 billion. Revisions to January imports * Imports of goods were revised up $0.1 billion. * Imports of services were revised down less than $0.1 billion. Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19) The February figures show surpluses, in billions of dollars, with South and Central America ($3.4), Hong Kong ($3.1), Brazil ($0.9), United Kingdom ($0.6), and Singapore ($0.5). Deficits were recorded, in billions of dollars, with China ($34.7), European Union ($15.3), Germany ($6.7), Mexico ($6.6), Japan ($6.0), Italy ($2.8), OPEC ($2.3), India ($1.9), Taiwan ($1.5), France ($1.4), South Korea ($1.1), Saudi Arabia ($0.4), and Canada ($0.4). * The deficit with Mexico increased $1.0 billion to $6.6 billion in February. Exports decreased less than $0.1 billion to $21.9 billion and imports increased $0.9 billion to $28.5 billion. * The deficit with Germany increased $0.4 billion to $6.7 billion in February. Exports decreased $0.2 billion to $4.7 billion and imports increased $0.2 billion to $11.3 billion. * The deficit with Canada decreased $1.2 billion to $0.4 billion in February. Exports increased $1.2 billion to $26.1 billion and imports increased less than $0.1 billion to $26.4 billion.