Friday, July 04, 2025

BEA News: Detailed Services Trade Statistics for 2024 Now Available; Country Coverage Expanded

 
US Department of Commerce Bureau of Economic Analysis

BEA News: BEA Adds Data on 147 Countries and Areas to International Services (Expanded Detail) Statistics for 2024

BEA today released statistics through 2024 in its most detailed tables on trade in services by type and geographic area, including statistics on 147 countries and areas not previously broken out, as well as other improvements.

https://www.bea.gov/system/files/trad0525.png 

> Updated statistics on U.S. trade in services (tables 2.1-2.3 and tables 3.1-3.3) and services trade by enterprise characteristics, or STEC, (tables 6.1-6.4) are now available in BEA’s detailed annual tables on international services.

Additionally, a new table—“Table 2.4. U.S. Trade in Services, Expanded Geographic Detail”—presents total services exports, imports, and the balance for 237 countries and areas, 147 more than the 90 listed separately in tables 2.2 and 2.3, beginning with statistics for 2018.

BEA also added geographic and affiliation-type detail in tables 2.2, 2.3, and 3.2 for “postal services” and “road and other transport,” which are categories within transport services, and audiovisual services related to movies and television programming and audiovisual services related to books and sound recordings, which are categories within personal, cultural, and recreational services. The new detail begins with statistics for 2018.

Finally, BEA has accelerated the availability of statistics on trade in services by service type and by employment size class in table 6.4, eliminating a two-year lag relative to BEA’s other detailed trade in services statistics.

In addition to these more detailed annual tables, BEA produces monthly, quarterly, and annual statistics on trade in services by selected countries and areas in its standard International Transactions Accounts tables and as part of the U.S. International Trade in Goods and Services monthly news release produced with the U.S. Census Bureau.


Table 2.4. U.S. Trade in Services, Expanded Geographic Detail
[Millions of dollars]
Release Date: July 3, 2025 

U.S. International Trade in Goods and Services, May 2025

May 2025
-$71.5 B
April 2025
-$60.3 B

The U.S. goods and services trade deficit increased in May 2025 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $60.3 billion in April (revised) to $71.5 billion in May, as exports decreased more than imports. The goods deficit increased $11.2 billion in May to $97.5 billion. The services surplus decreased $0.1 billion in May to $26.0 billion.

  • Current Release: July 3, 2025
  • Next release: August 5, 2025
Table 6.4. MNEs' U.S. Trade in Selected Services, by Service Type and by Employment Size Class
[Millions of dollars]
Release Date: July 3, 2025
 
 
July 03, 2025

U.S. International Trade in Goods and Services, May 2025

The U.S. goods and services trade deficit increased in May 2025 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $60.3 billion in April (revised) to $71.5 billion in May, as exports decreased more than imports. The goods deficit increased $11.2 billion in May to $97.5 billion. The services surplus decreased $0.1 billion in May to $26.0 billion.

U.S. Trade in Services Detailed Tables, 2024

For 2024, U.S. exports of services were $1,152.7 billion, and U.S. imports of services were $840.9 billion. For 2022—the latest year for which statistics are available—services supplied to foreign persons through foreign affiliates of U.S. multinational enterprises (MNEs) were $2,114.1 billion, and services supplied to U.S. persons through U.S. affiliates of foreign MNEs were $1,517.8 billion. Affiliates supplied most of the services provided to foreign persons by the United States and to U.S. persons by foreign markets in 2022.

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