Covering more than 200 nations; over 400 airports, seaports and border crossings; and more than 900 export and 900 import commodities. The Census data only include imports of goods by U.S. military agencies that enter the U.S. customs territory. In addition to revisions to source data for the November statistics, October imports of electric energy, a component of industrial supplies and materials, were revised to incorporate a $0.2 billion correction to source data. Exports of services decreased less than $0.1 billion to $69.5 billion in December. The seasonally adjusted country and world area data will not sum to the seasonally adjusted by-commodity and by-service type totals because the two sets of statistics are derived from different aggregations of the export and import data and from different seasonal adjustment models. The exception is exhibit 17a, which shows CIF import value. Products In addition, U.S. imports of coffee and tea decreased $596 million (8.3 percent), driven by lower imports of these products from Canada, Vietnam, Colombia, and Brazil. Year-over-year, the average goods and services deficit increased $6.2 billion from the three months ending in December 2017. However, for the advance GDP estimate, FT-900 data for the third month are not yet available, so BEA uses data from the Advance Report. Textiles and Apparel 2018 US-China Trade Conflict after 40 Years of Special Protection The deflators are primarily based on the monthly price indexes published by the BLS using techniques developed for the NIPAs by BEA. (For more information, see the Energy-related Products, Transportation Equipment, and Chemicals and Related Products chapters. Project Team Looking at the period 2008 to 2018, the EU had a trade in goods surplus (meaning larger exports than imports) with the United States. This adjustment for price change is done using the Fisher chain-weighted methodology. Exports of goods on a Census basis increased $117.8 billion. The Advance Report contains advance statistics for goods trade on a Census basis by principal end-use category, thus providing users an earlier high-level snapshot of U.S. international trade for the featured month. See "An Empirical Review of Methods for Temporal Distribution and Interpolation in the National Accounts" (May 2008) for more information. By 2018, it had increased to $418.9 billion, before falling to $345.2 billion in 2019. Exports increased $0.4 billion to $7.7 billion and imports increased $3.6 billion to $46.4 billion. The Census Bureau recommends that data users incorporate this information into their analyses, as nonsampling errors could impact the conclusion drawn from the results.  The growth in U.S. imports from Mexico was largely driven by a combined $18.3 billion increase in imports of computers, peripherals, and parts; crude petroleum; and motor vehicles. 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, March 6, 2019, Exports, Imports, and Balance (exhibit 1). Cross-border transactions in non-customized packaged software with a license for perpetual use are included in goods. For more information on trade terminology, please refer to USITC, “Special Topic: Trade Metrics,” Shifts in U.S. Real imports of goods increased $7.9 billion to $238.4 billion. The U.S. merchandise trade deficit with the rest of the world grew by $83.0 billion (10.4 percent) to $878.7 billion in 2018. Monthly country and area detail is not available for goods on a BOP basis or for services. Seasonally adjusted data are also revised to reflect recalculated seasonal and trading-day adjustments. Imports of services increased $15.4 billion to $557.9 billion in 2018. Contact Us.  USITC DataWeb/USDOC, digest EL017 (accessed March 15, 2019). Imports by U.S. military agencies - This addition is made for purchases of goods abroad by U.S. military agencies, which are reported to BEA by the Department of Defense. Because only goods trade on a Census basis by principal end-use category is available in the Advance Report, BEA applies adjustments, such as BOP and coverage adjustments, to the Advance Report statistics to produce detailed estimates for incorporation into the advance GDP estimate. BEA makes an addition for the inland freight charges of transporting these goods to the U.S. border to make the value comparable to the customs value reported for imports from other countries. Issued on: December 11, 2020. The Census Bureau provides these data to BEA for use in the NIPAs and in the U.S international transactions accounts (balance of payments accounts).  USITC DataWeb/USDOC, digest AG002 (accessed March 15, 2019).  USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). Travel excludes air passenger services for travel between countries, which are included in transport, and goods for resale, which are included in goods. ), The increase in overall U.S. exports of merchandise was somewhat offset by a drop in the value of exports in several sectors. They will also help Egypt achieve its goal of becoming a regional energy hub, which is also priority for the United States.” The Census Bureau has determined that not all required documents are filed, particularly for exports. Pharmaceutical preparations increased $23.7 billion. See "U.S. For imports from Canada and Mexico, this should be the cost of the goods at the U.S. border. Strategic Plan. Net balance of payments adjustments decreased $0.2 billion. Services include securities brokerage and underwriting, financial management, financial advisory, and custody services; credit and other credit-related services; and securities lending, electronic funds transfer, and other services. They include government and non-government shipments of goods and exclude shipments between the United States and its territories and possessions; transactions with U.S. military, diplomatic, and consular installations abroad; U.S. goods returned to the United States by its Armed Forces; personal and household effects of travelers; and in-transit shipments. The largest increase in value occurred in the chemicals and related products sector, which gained $43.1 billion (16.1 percent). China–US Trade Disputes in 2018: An Overview. Claim: The US is suffering from a trade imbalance, with a trade deficit of $800bn (£579bn) in 2017. Other business services increased $7.0 billion. Maintenance and repair of computers are included under computer services, and some maintenance and repair of ships, aircraft, and other transport equipment are included under transport services. (For more information, see the Electronic Products and Agricultural Products chapters. Recent Trends in U.S. Services Trade. These adjusted data are then summed to the six end-use aggregates for publication (see exhibit 6). The U.S. runs the biggest trade deficits with China, Mexico, and Japan. Transport covers all modes of transportation, including air, sea, rail, road, space, and pipeline. (For more information, see the Transportation Equipment and Agricultural Products chapters.). The U.S. trade deficit has been steadily increasing since 2009 and is … 70th Report .  USITC DataWeb/USDOC, digest AG032 (accessed March 15, 2019). Data users should use caution drawing comparisons between the two sets of seasonally adjusted series. 1. However, this increase was tempered by a decrease in exports of two product groups within this sector—motor vehicles (down $1.2 billion, or 1.5 percent) and aircraft engines and gas turbines (down $766 million, or 7.7 percent) (table US.2). Computer accessories increased $0.7 billion. Real Goods in 2012 Dollars – Census Basis (exhibit 11). Operation of the Trade Agreements Program . Merchandise Trade summary statistics data for United States (USA) including exports and imports, applied tariffs, top export and import by partner countries and top exported/imported product groups, along with development indicators from WDI such as GDP, GNI per capita, trade balance and trade as percentage of GDP for year Why are your data different from other trade data? The medicinal chemicals product group drove the increase in U.S. imports in this sector, gaining $24.0 billion (21.4 percent) and accounting for about 56 percent of the sectoral increase. For November, unadjusted exports of goods were revised down $0.1 billion and unadjusted imports of goods were revised up $0.1 billion.  The increase in U.S. general imports from Canada was led by imports of crude petroleum and motor vehicles, which were at their highest levels in the last five years. This despite President Trump’s efforts to revive American manufacturing & reduce dependence on imported goods. ), Table US.1 U.S. total exports, general imports, and merchandise trade balance, by major industry/commodity sectors, 2014–18, Figure US.1 Total U.S. exports, general imports and trade balance, 2014–18 (billion $).  USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). Additions for sales of fish caught in U.S. territorial waters, exports of electricity to Mexico, private gift parcels, vessels and oil rigs for which ownership changes, valuation of software exports at market value, low-value (below reporting threshold) transactions for 1999–2009 to phase in a revised Census Bureau low-value methodology that was implemented for goods on a Census basis beginning with statistics for 2010, and, for periods prior to 2010, FMS goods exports reported to BEA by the U.S. Department of Defense. The definitions of the world areas shown in exhibit 20 are consistent with the definitions for goods on a Census basis (see Area groupings above) with a few exceptions. Undocumented shipments: Federal regulations require importers, exporters, or their agents to report all merchandise shipments above established exemption levels. Tariff Data for specific products, Tariff Programs, Miscellaneous Tariff Bill Petition System (MTBPS), Harmonized Tariff Schedule (HTS), HTS Search, Modifications, E-Learning Module & Help, Future Tariff Rates, Quick lookup of U.S. - Includes charges for the use of proprietary rights, such as patents, trademarks, and copyrights, and charges for licenses to use, reproduce, distribute, and sell or purchase intellectual property. Exports decreased $9.6 billion to $120.3 billion and imports increased $34.0 billion to $539.5 billion. The deficit with China increased $43.6 billion to $419.2 billion in 2018. The agricultural trade surplus declined by $2.4 billion in 2018 (8.3 percent), as a consequence of trade restraints in … The December figures show surpluses, in billions of dollars, with South and Central America ($3.5), Hong Kong ($2.2), Brazil ($0.8), United Kingdom ($0.6), and Singapore ($0.4). In addition, BEA releases detailed annual international services statistics, which consist of statistics on trade in services and on services supplied through affiliates of multinational enterprises. The United States-Nepal Council on Trade and Investment, under the United States-Nepal Trade and Investment Framework Agreement (TIFA) View Full Release. Pacific Rim: Australia, Brunei, China, Hong Kong, Indonesia, Japan, Korea (South), Macau, Malaysia, New Zealand, Papua New Guinea, Philippines, Singapore, Taiwan. For total exports and imports, data users should refer to the commodity-based totals shown in the other exhibits. Financial services increased $4.6 billion. Merchandise Trade Statistics: A Quality Profile, Advance Report Frequently Asked Questions, ITA Table 2.4. Civilian aircraft decreased $1.0 billion. Net balance of payments adjustments increased $0.6 billion. The trade deficit is the result of exporting goods and services worth about $2.5 trillion while importing goods and services worth about $3.12 trillion. The Harmonized System describes and measures the characteristics of the goods and is the basis for the systems used in the United States: Schedule B for exports and Harmonized Tariff Schedule for imports. Similarly, U.S. exports of transportation equipment—particularly aircraft, spacecraft, and related equipment ($8.4 billion, 6.5 percent)—went mostly to the United Kingdom, China, France, and Germany. It also increased with Canada and Mexico, rising $2.7 billion (15.9 percent) and $10.6 billion (14.9 percent), respectively. Organization of Petroleum Exporting Countries (OPEC): Algeria, Angola, Congo (Brazzaville), Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Table reflects only those months for which there was trade. The Office of the United States Trade Representative (USTR) is responsible for the preparation of this Report. Annual revisions: Each June, not seasonally adjusted goods data are revised to redistribute monthly data that arrived too late for inclusion in the month of transaction. Manufactured goods conform to the NAICS; they consist of goods that have been mechanically, physically, or chemically transformed. The 2018 increase in the goods and services deficit reflected an increase in the goods deficit of $83.8 billion, or 10.4 percent, to $891.3 billion and an increase in the services surplus of $15.0 billion, or 5.9 percent, to $270.2 billion. United States International Trade Commission The Year in Trade 2018 . Technical, trade-related, and other business services include architectural and engineering, construction, audio-visual, waste treatment, operational leasing, trade-related, and other business services. Deficits were recorded, in billions of dollars, with China ($38.7), European Union ($15.8), Mexico ($8.8), Germany ($5.7), Japan ($5.5), Italy ($3.0), South Korea ($1.7), Taiwan ($1.6), France ($1.5), India ($1.4), OPEC ($1.3), Saudi Arabia ($1.2), and Canada ($0.7). For November, revised export carry-over was $0.2 billion (0.1 percent) and revised import carry-over was $0.1 billion (less than 0.1 percent). The next largest suppliers of merchandise to the United States were Mexico and Canada, accounting for 26 percent of the total imports in 2018. Ambassador to Egypt Jonathan R. Cohen noted, “These grant agreements total $1.4 million and underscore the mutual focus of Egypt and the United States on expanding the robust trade and investment relationship between our countries. The General Imports value reflects the total arrival of merchandise from foreign countries that immediately enters consumption channels, warehouses, or Foreign Trade Zones. In the following month, this estimate is replaced, in the news release exhibits only, with the actual value of late receipts and corrections. Exports increased $0.6 billion to $3.3 billion and imports increased $0.3 billion to $4.7 billion. (For more information, see the Agricultural Products, Electronic Products, Transportation Equipment, and Minerals and Metals chapters.).  In 2018, China, Canada, and Mexico, combined, accounted for 45 percent of the total U.S. trade. Exports were $2,500.0 billion in 2018, up $148.9 billion from 2017. Trump orders “Section 301” probe into alleged Chinese intellectual property theft, described as his first direct trade measure against Beijing. Documents may be lost, and data may be incorrectly keyed, coded, or recorded. Data for U.S. exports to Canada are derived from import data compiled by Canada. The US is a major trade and investment partner for the UK - … Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19).  These increases in U.S. imports from Mexico were partially offset by a decrease in imports of consumer electronics and motor vehicles. These investigations often concern the likely impact of changes in trade policy such as trade agreements on the U.S. economy, industries, and workers or provide assessments of U.S. industries. Country detail data and commodity detail data, based on the Standard International Trade Classification (SITC) Revision 4 and the North American Industry Classification System (NAICS), are not revised monthly.