Getting Your Trade Data Faster

In July 2015, the U.S. Census Bureau will introduce the Advance Report: U.S. International Trade in Goods. The new Advance Report will contain international goods trade data for five export and import end-use categories, in addition to totals. While the Census Bureau and Bureau of Economic Analysis (BEA) jointly produce the full FT-900: U.S. International Trade in Goods and Services (FT-900) report approximately 35 calendar days after the reference month ends, the new Advance Report will be published up to a week sooner.

Who benefits? 

Private sector data users and other government agencies will both benefit from an earlier release of U.S. trade data. The Advance Report allows policymakers and private data users to make data-driven decisions sooner due to this high-level “snapshot,” coupled with BEA’s expanded ability to produce a more complete advance Gross Domestic Product (GDP) estimate. In addition, the release will also allow BEA to incorporate export and import data from the third month of a quarter into the advance quarterly estimate of GDP, thereby producing a more complete quarterly estimate. The advance GDP offers the first glimpse of the broadest measure of how the U.S. economy is performing for any given quarter.

These data will cover end-use categories at the one-digit level for the impending monthly trade release. The comprehensive FT-900 will continue to be published on the same schedule and will cover the full details that you are used to seeing today.

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International Trade University Webinar – CLAS 101

Webinar Series Spring 2015On April 16, we held our 3rd webinar in our International Trade University Webinar Series–CLAS 101: Classifying Your Product (Schedule B). Don’t worry if you missed it! You can still benefit from our new information packed webinar. Click to watch the FREE recording!

Experts from the Micro Analysis Branch presented on the following items:

  • The basics of classification
  • The Schedule B search engine and how to use it
  • General Rules of Interpretation

Don’t forget to mark your calendar for April 30th @ 2pm ET. We will have experts from the Trade Regulations Branch to discuss Types of Export Transactions. Go to our International Trade Outreach, Education and Training webpage for more information on this webinar and view previous recordings.

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International Trade University Webinar – FTR 201

Webinar Series Spring 2015On April 2, we held the second webinar in our International Trade University Webinar Series — FTR 201: Filing Requirements. Don’t worry if you missed it! You can still benefit from our new information-packed webinar. Click to watch the FREE e-training course!

Experts from the Foreign Trade Regulations staff presented on the following items:

  • The requirements for filing Electronic Export Information (EEI)
  • When to use exemptions and exclusions

Go to our International Trade Outreach, Education and Training webpage for more information on this webinar and to view previous recordings.

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February 2015, Trade Deficit Decreased

By: Ariel Sedeno

The trade deficit in goods and services decreased to $35.4 billion in February, a $7.2 billion decrease from the January deficit of $42.7 billion, revised. The decrease in the deficit reflects a decrease of $3.0 billion in exports and a larger decrease of $10.2 billion in imports.

Below are a few highlights from February:

  • Imports of industrial supplies and materials decreased $4.4 billion to $42.6 billion, the lowest since October 2009 ($42.2 billion).
  • February exports of consumer goods, at $17.8 billion, were the highest on record.
  • The February petroleum deficit, at $8.1 billion, was the lowest since July 2002 ($7.8 billion).

Click here for more monthly trade highlights.

To learn more about the FT-900: U.S. International Trade in Goods and Services and other economic indicators the Census Bureau publishes, join the Economic Indicators Division for the “Investigating Economic Indicators” Webinar series.

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International Trade University Webinar – FTR 101

Webinar Series Spring 2015

On March 19, we held our 1st webinar in our International Trade University Webinar Series –FTR 101: Introduction to Foreign Trade Regulations (FTR), which provided a general overview of the FTR. If you missed it, you can still benefit from our new informative webinar. Click to watch the recording for FREE!

Experts from the Trade Regulations Branch presented on the following items:

  • What is the FTR? Why should I become familiar with it?
  • How is the FTR organized?
  • What are the key sections and how can I utilize the FTR effectively?
  • Where can I find the FTR?

Don’t forget to mark your calendar for April 2nd @ 2pm ET. We will have experts from the Trade Regulations Branch back to discuss Filing Requirements.  Go to our International Trade Outreach, Education and Training webpage for more information on this webinar and view previous recordings.

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International Trade University Webinar Series–Begins March 19

Webinar Series Spring 2015

By: Anna Owens

Our spring semester is about to begin! We will be hosting 10 FREE webinars that will give you targeted training on:

  • Foreign Trade Regulations
  • Automated Export System
  • Guidance on classifying your product
  • Bureau of Industry and Security’s 600 series

All of our instructors are international trade experts who will answer your questions during the courses. Each course begins at 2 pm EST and are scheduled for 1 hour.  Visit our Outreach page for more information on each session or contact the Trade Outreach Branch at itmd.outreach@census.gov or 800-549-0595, option 5.

School is now in session.

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How trade stats can help US businesses expand abroad

By: Dale Kelly

International markets provide an opportunity for U.S. businesses to increase sales and overall competitiveness, but knowing how to get started and learning about foreign markets can be daunting. The U.S. Census Bureau can help.

Although known most widely as the home of the decennial Census of U.S. households, the Census Bureau also is responsible for collecting, compiling, and publishing monthly trade statistics on all goods imported and exported from the United States. Every month, the Census Bureau releases information on the import and export of commodities such as soybeans, corn, rice, chemicals, steel, aircraft, and lumber. Together with the Bureau of Economic Analysis, which collects similar data on services imports and exports, the Census Bureau releases the  “U.S. International Trade in Goods and Services” report. This report provides detailed information on import and export of merchandise by commodity and end-use category as well as by the multitude of countries and areas with which the U.S. conducts international trade. All of these reports are available at the Census Bureau’s foreign trade web page.

How can this information help U.S. businesses? The Census Bureau provides detailed information on more than 9,000 export commodities and 18,000 import commodities. Easily accessible online, this information assists U.S. businesses in making informed decision by tracking the global marketplace for their product and identifying possible opportunities to expand to new markets.

In addition to data, the Census Bureau provides resources and tools to help businesses export. The Census Bureau’s International Trade Management Division conducts outreach and training around the country. Training includes webinars, seminars, workshops, and blog posts on using trade data, understanding foreign trade regulations and utilizing the Automated Export System, which allows the electronic filing of export information directly to U.S. Customs and Border Protection. These same data are the source of the Census Bureau’s merchandise export and import statistics. The next two-day training on the Automated Export System begins on April 15 in Seattle, Washington.  Trade is a vital part of our economy, and the Census Bureau plays an important role in providing detailed timely information to U.S. businesses to make informed decisions

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January 2015, Trade Deficit Decreased

By: Carlann Unger

The trade deficit in goods and services decreased to $41.8 billion in January, a $3.8 billion decrease from the December deficit of $45.6 billion, revised. The decrease in the deficit reflects a decrease of $5.6 billion in exports and a larger decrease of $9.4 billion in imports. Industrial supplies and materials drove the decreases in both imports and exports. Imports for industrial supplies and materials ($46.8 billion) were the lowest since December 2009 ($46.2 billion), while exports for industrial supplies and materials ($37.5 billion) were the lowest since December 2010 ($36.5 billion). Click here for more January highlights.

The import average price per barrel of crude oil in January, at $58.96, was the lowest since May 2009, when the average price was $51.30. January’s graph of the month tracks the price per barrel of crude oil from January 2010 to January 2015. To view the graph of the month click here. For more data on crude oil, refer to exhibits 17 and 17a of the FT900. Exhibit 17 includes monthly quantities (thousands of barrels), thousands of barrels per day, values, and unit prices of crude oil. Exhibit 17a includes information on imports of crude oil by selected countries.

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Relocating Abroad?

By: Paula Barron

If circumstances like school or work requiremoving abroad you to relocate to a foreign country and you intend to take your household goods, you may be required to file in the Automated Export System (AES).

The Foreign Trade Regulations (Section 30.1(c)) defines household goods as “usual and reasonable kinds and quantities of personal property necessary and appropriate for use by the U.S. Principal Party in Interest (USPPI) in the USPPI’s dwelling in a foreign country that are shipped under a bill of lading or air waybill and are not intended for sale.” Please note that used self-propelled vehicles like cars, motorcycles, etc. are not considered household goods and have special filing requirements. These special filing requirements can be found here.

If you are moving to Canada or the value of the household goods is less than $2,500, you do not have to file Electronic Export Information (EEI) in AES. Just enjoy your travels and ship your goods to their destination using either the Canadian exemption “NOEEI 30.36” or the low value exemption “NOEEI 30.37(a)” as appropriate.

If you are moving to a country other than Canada, and the value of your household goods is over $2,500, you or your authorized agent must file the EEI in the AES prior to exporting your goods. On the bright side, there is limited reporting associated with the filing of household goods. Note that a Schedule B number and 1st quantity is not required once the household goods export code “HH” is selected. Below is a sample commodity line filed through AESDirect with “HH” selected as the export code along with data in each mandatory field.

AES Example for Paula's blog

For further information, visit the U. S. Census Bureau website, or call the Trade Regulations Branch at

1-800-549-0595, option 3.

Bon Voyage.

 

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New TradeSource Publication

Trade Source ImageThe world economy has entered a new phase since the ups and downs of the global financial crisis of 2009. The U.S. economy is growing, and so is the world’s. In the not-so-distant past, good times at home often meant that many U.S. businesses would lose interest in the global marketplace. Looking forward, we increasingly see businesses and communities that are committed to maintaining or intensifying their focus on exporting. The global marketplace continues to grow at a higher rate than the U.S. economy. This is not surprising, perhaps, when you consider that in most emerging and developing countries, economic reforms and development and burgeoning middle classes are driving consistent market growth of about 5 percent a year. Growth abroad has translated into high, sustained demand for U.S. goods and services respected for their innovation, quality, and service.

Read the recent release of the TradeSource Publication HERE.

Topics Covered in this publication:

  • Cross-Cutting: Support the Creation of Improved Data Resources
  • Announcing New Enhancements for USA Trade Online
  • NEI/NEXT: Helping More American Companies Reach More Markets
  • Automated Export System Seminar and Workshops
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