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

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that 
> The goods and services deficit was $46.2 billion in April, down $1.0 billion from $47.2 billion in March, revised.
> April exports were $211.2 billion, $0.6 billion more than March exports.
> April imports were $257.4 billion, $0.4 billion less than March imports.
https://www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm
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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Wednesday, June 6, 2018

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

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $46.2 billion in April, down $1.0 billion from $47.2 billion in March, revised.

Exports, Imports, and Balance (exhibit 1)

April exports were $211.2 billion, $0.6 billion more than March exports. April imports were
$257.4 billion, $0.4 billion less than March imports.

The April decrease in the goods and services deficit reflected a decrease in the goods deficit
of $1.0 billion to $68.3 billion and a decrease in the services surplus of less than $0.1 billion
to $22.1 billion.

Year-to-date, the goods and services deficit increased $20.8 billion, or 11.5 percent, from the
same period in 2017. Exports increased $62.0 billion or 8.1 percent. Imports increased $82.8 billion
or 8.7 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit decreased $2.2 billion to $49.6 billion for the three
months ending in April.
     * Average exports increased $2.9 billion to $209.3 billion in April.
     * Average imports increased $0.7 billion to $259.0 billion in April.

Year-over-year, the average goods and services deficit increased $4.9 billion from the three
months ending in April 2017.
     * Average exports increased $17.0 billion from April 2017.
     * Average imports increased $21.9 billion from April 2017.

Exports (exhibits 3, 6, and 7)

Exports of goods increased $0.3 billion to $141.2 billion in April.
  Exports of goods on a Census basis increased $0.3 billion.
     * Industrial supplies and materials increased $1.3 billion.
          o Fuel oil increased $0.5 billion.
          o Other petroleum products increased $0.2 billion.
     * Foods, feeds, and beverages increased $0.7 billion.
          o Soybeans increased $0.3 billion.
          o Corn increased $0.3 billion.
     * Capital goods decreased $1.4 billion.
          o Civilian aircraft decreased $2.8 billion.

  Net balance of payments adjustments increased less than $0.1 billion.

Exports of services increased $0.3 billion to $70.0 billion in April.
     * Other business services, which includes research and development services; professional
       and management services; and technical, trade-related, and other services, increased $0.1
       billion.
     * Financial services increased $0.1 billion.
     * Charges for the use of intellectual property increased $0.1 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods decreased $0.7 billion to $209.5 billion in April.
  Imports of goods on a Census basis decreased $0.9 billion.
     * Consumer goods decreased $2.8 billion.
          o Cell phones and other household goods decreased $2.2 billion.
     * Automotive vehicles, parts, and engines decreased $0.9 billion.
          o Passenger cars decreased $1.0 billion.
     * Other goods increased $1.3 billion.
     * Industrial supplies and materials increased $1.2 billion.
          o Crude oil increased $1.0 billion.

  Net balance of payments adjustments increased $0.2 billion.

Imports of services increased $0.3 billion to $47.9 billion in April.
     * Transport increased $0.1 billion.
     * Other business services increased $0.1 billion.
     * Charges for the use of intellectual property increased $0.1 billion.

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

The real goods deficit decreased $0.7 billion to $77.5 billion in April.
     * Real exports of goods decreased $0.2 billion to $150.6 billion.
     * Real imports of goods decreased $0.9 billion to $228.1 billion.

Revisions

Exports and imports of goods and services for all months through March 2018 shown in this release
reflect the incorporation of annual revisions to the goods and services series. See the “Notice”
in this release for a description of the revisions.

Revisions to March exports
     * Exports of goods were revised up $0.1 billion.
     * Exports of services were revised up $2.1 billion.

Revisions to March imports
     * Imports of goods were revised down $0.1 billion.
     * Imports of services were revised up $0.5 billion.

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

The April figures show surpluses, in billions of dollars, with South and Central America ($4.1),
Hong Kong ($2.2), United Kingdom ($0.9), Singapore ($0.7), and Brazil ($0.6). Deficits were
recorded, in billions of dollars, with China ($30.8), European Union ($13.2), Mexico ($6.0),
Japan ($5.9), Germany ($5.6), OPEC ($3.3), Italy ($2.4), India ($2.0), Canada ($1.7), France ($1.6),
South Korea ($1.3), Taiwan ($1.1), and Saudi Arabia ($0.9).

     * The deficit with China decreased $3.4 billion to $30.8 billion in April. Exports decreased
       $1.4 billion to $11.1 billion and imports decreased $4.7 billion to $41.9 billion.
     * The surplus with South and Central America increased $1.0 billion to $4.1 billion in April.
       Exports increased $0.7 billion to $14.0 billion and imports decreased $0.3 billion to
       $9.9 billion.
     * The deficit with members of OPEC increased $2.1 billion to $3.3 billion in April. Exports
       decreased $0.3 billion to $4.6 billion and imports increased $1.8 billion to $7.9 billion.

Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis
(exhibit 20)

The first quarter figures show surpluses, in billions of dollars, with South and Central America
($21.0), Hong Kong ($10.0), Brazil ($7.9), United Kingdom ($5.7), Singapore ($4.5), Canada ($4.2),
Saudi Arabia ($0.9), and OPEC ($0.6). Deficits were recorded, in billions of dollars, with China
($93.4), European Union ($30.4), Germany ($18.7), Mexico ($18.1), Japan ($15.1), Italy ($9.1),
India ($5.9), France ($4.1), Taiwan ($3.9), and South Korea ($0.1).

     * The deficit with China increased $4.7 billion to $93.4 billion in the first quarter. Exports
       increased $0.7 billion to $49.0 billion and imports increased $5.3 billion to $142.4 billion.
     * The deficit with Germany increased $1.7 billion to $18.7 billion in the first quarter. Exports
       increased $1.0 billion to $23.5 billion and imports increased $2.6 billion to $42.2 billion.
     * The surplus with Canada increased $3.7 billion to $4.2 billion in the first quarter. Exports
       increased $3.8 billion to $91.8 billion and imports increased $0.1 billion to $87.6 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/newsreleases/international/trade/tradnewsrelease.htm. 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/newsreleases/news_release_schedule.htm.

The full text of the release on BEA's Web site can be found at