By: Henock Kebede
The trade deficit in goods and services decreased by $0.2 billion to $40.1 billion in August. A slightly larger increase in exports of $0.4 billion (to $198.5 billion) than imports of $0.2 billion (to $238.6 billion) drove the August decrease. August exports of goods and services, at $198.5 billion, and August exports of goods, at $138.8 billion, were the highest on record.
Today being Manufacturing Day, we have featured exports of manufactured goods by continent in our Graph of the Month. American manufacturing is currently growing twice the rate of GDP, and American companies ship manufactured goods around the world.
Lastly, we want to inform you of our name change. We are no longer the Data Dissemination Branch of the Foreign Trade Division. Our new name is the International Trade Indicator Macro Analysis Branch of the Economic Indicators Division. Our role has not changed and we will continue to be your main point of contact for international trade data. For now, our email address will remain email@example.com and our phone number will remain 1-800-549-0595, option 4. For more information on the organizational change of the new International Trade Management Division, please check out the latest blog post by Dale Kelly.
We are changing… but we’re also staying the same. On September 22nd, the Foreign Trade Division officially became the International Trade Management Division (ITMD). Bill Bostic, Associate Director of Economic Programs, and other leaders at the Census Bureau looked at ways to streamline and consolidate our processes within the economic area. As a result, we have completed the first phase of this multi-phase approach by realigning our organizational structure. Subsequent changes will focus on re-engineering our processes.
So what does this mean to you? The ITMD will continue to support the trade community in using the Automated Export System and understanding the Foreign Trade Regulations. We will also be taking on new responsibilities including data stewardship and management.
Here are a few changes to areas you may work with:
- AES Branch will now be known as the Data Collection Branch
- Regulations, Outreach and Education Branch has become the Trade Regulations Branch
- Trade Outreach Branch is a newly formed branch supporting training and education for the trade community
The ITMD will continue providing support for trade related data, but the Commodity Analysis Branch and the Data Dissemination Branch have moved to another area named the Economic Indicators Division and are now known as the Micro-Analysis and Macro-Analysis Branch, respectively.
In summary, yes we have implemented a new organization structure, however you can continue to expect us to support the trade community through our training, seminars, webinars, call center, etc. Our name may have changed but I can guarantee you that our goal continues to be providing you with a high level of quality customer service. You can continue to reach us at 1-800-549-0595 with any questions. Dale C. Kelly, International Trade Management Division.
By: Anna Owens
Time is ticking away. It may seem like just yesterday when the Final Rule was published. However, in about a week, informed compliance will be over. My question for you…Are you ready for the big day?
Here’s what’s happening on October 3…
- Customs and Border Protection may begin issuing penalties for non-compliance
- AESDirect will begin issuing fatal errors related to the new data elements
AESDirect will begin issuing fatal errors related to the new data elements
Are you ready for the complete enforcement of the revised FTR? Do you have any last minute questions? Do you need a refresher of the changes?
Check out the FREE town hall webinar on the changes to the Foreign Trade Regulations (FTR) here!
If you have questions, please contact us at (800) 549-0595.
By: Kenny Mayo
The Standard Carrier Alpha Code (SCAC) and International Air Transport Association (IATA) code are used to identify the carrier that transports the goods out of the United States. Before selecting a carrier code it is important to be aware of which company is actually moving the goods out of the country. This is important to note because the carrier that transports the goods to the port of export may not be the same as the carrier that transports the goods out of the country.
What is the difference between the SCAC and IATA?
The SCAC is the carrier identification for vessel, rail, and truck shipments. These codes are issued and maintained by the National Motor Freight Association (NMFTA). In contrast, the IATA is responsible for issuing carrier identification codes for air shipments.
Why is the carrier code important?
It is essential that you accurately report the SCAC or IATA code so that Customs and Border Protection (CBP) knows exactly which carrier is transporting the goods out of the country and has the opportunity to inspect the goods prior to export. Failure to provide accurate information can lead to shipment delays and penalties up to $10,000 per violation. As part of our continuous efforts to help you maintain compliance, however, the Census Bureau has created edits in AESDirect and AESPcLink which require the appropriate type of carrier code to be selected for each mode of transportation.
Is this required for all shipments?
No. The carrier identification is not required for the following modes of transportation: mail, passenger hand carried, and fixed transport (pipeline).
For more information about SCACs, please use the following link: http://www.nmfta.org/pages/scac
For more information about IATA codes, please use the following link:
Posted in Trade Terms
Tagged AESDirect, Air, carrier code, cbp, census bureau, Customs and Border Protection, IATA, Rail, scac, trade terms, Truck, Vessel
By: Vecoya Greene
It’s that time again! Time for you to tell us how to improve our customer service. The 2014 Foreign Trade Division Customer Service Survey is now available and we would like you to participate.
If you used the Automated Export System (AES) and it’s associated services in the past two years, your feedback helps us better assist you.
This year’s survey is a little different. It’s all about your opinions and finding new innovative ways to improve our services. For example, if you have utilized our shipment manager, watched a webinar or browsed our website, this is your chance to share that experience with us!
Come one, come all, you’re invited to participate in this survey.
Remember, your feedback will inspire action! The last day to complete the survey is September 19, 2014, so don’t miss out on this valuable opportunity.
By: Carlann Unger
Balance of Payments Basis
The trade deficit in goods and services continued to decrease for the third month, dropping $0.3 billion to $40.5 billion. A slightly larger increase in exports of $1.8 billion (to $198.0 billion) than imports of $1.6 billion (to $238.6 billion) drove the July decrease. July exports of goods, at $138.6 billion, were the highest on record.
Goods on a Census Basis
July exports of goods increased to $137.6 billion. Exports of Automotive Vehicles, Parts, and Engines drove the increase with gains of $1.7 billion, followed by Industrial Supplies and Materials with gains of $1.3 billion. July imports of goods increased to $196.8 billion. The main drivers for this increase were Automotive Vehicles, Parts, and Engines with gains of $1.4 billion and Other Goods with gains of $0.5 billion. July imports of Foods, Feeds, and Beverages also had a record month with total imports of $10.9 billion.
July Automotive Vehicles, Parts, and Engines increased to record levels for both exports and imports. In July, this category made up 11% of all U.S. goods exported, with Passenger Cars making up 40% of the exports in this category. July imports of Automotive Vehicles, Parts, and Engines made up 15% of all goods imported, with Passenger Cars making up 45% of the imports in this category. Take a look at our Graph of the Month to see how the values of exports and imports of Automotive Vehicles, Parts, and Engines have changed since 2008.
On August 26, we held our 6th and FINAL webinar in The Basics of Export Compliance Summer Webinar Series, titled “Utilizing the Features in the AES”.
An expert from the Automated Export System Branch (AESB) presented on the following items:
For more information on this webinar or to view our previous recordings, visit our Basics of Export Compliance webpage.
This was our FINAL webinar for the Basics of Export Compliance summer series. We know it’s sad but we promise more to come. In the mean time, check out our Outreach page for archived webinars as well as upcoming training opportunities.
By: Anna Owens
Hi Trade Community! Let me introduce myself… My name is Anna Owens, the latest addition to the Foreign Trade Division’s Regulations, Outreach and Education Branch. Our team focuses on reaching out to you, the trade community. Feel free to let me know if you have any questions. I am excited to get to know you.
Today is such an important day for me and other Panamanians as we celebrate the 100th Anniversary of the Panama Canal. The Panama Canal is not only a vital part of the global trade community but also my second home. I hope you take a small break today and enjoy our new infographic about Panama.
On August 5, we held our 5th webinar in The Basics of Export Compliance Summer Webinar Series, titled “Sanctions and Embargoes: What it means to you?”
An expert from the Office of Foreign Asset Control (OFAC) presented on the following items:
- What is the Office of Foreign Asset Control?
- Case studies
- OFAC licensing
- Enforcement of sanctions, rules and regulations
- Best practices for compliance
For more information on this webinar or view our previous recordings, visit our Basic of Export Compliance webpage.
Don’t miss our last webinar in the summer series on August 26th @ 2pm EST. We plan to focus on utilizing features in the Automated Export System. Be sure to access our training page 15 minutes prior to join us.