The Goods and Services Deficit Decreased to $42.4 billion in November 2015

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $42.4 billion in November, down $2.2 billion from $44.6 billion in October, revised. November exports were $182.2 billion, $1.6 billion less than October exports. November imports were $224.6 billion, $3.8 billion less than October imports.

The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.3 billion to $61.3 billion and a decrease in the services surplus of $0.1 billion to $18.9 billion.

Year-to-date, the goods and services deficit increased $25.2 billion, or 5.5 percent, from the same period in 2014. Exports decreased $99.0 billion or 4.6 percent. Imports decreased $73.7 billion or 2.8 percent.

bopExports (Exhibits 3, 6, and 7)

Exports of goods decreased $1.4 billion to $122.2 billion in November.

Exports of goods on a Census basis decreased $1.9 billion.

  • Other goods decreased $0.7 billion.
  • Industrial supplies and materials decreased $0.7 billion.
    • Nonmonetary gold decreased $0.5 billion.
  • Consumer goods decreased $0.6 billion.
    • Cell phones and other household goods decreased $0.3 billion.

Net balance of payments adjustments increased $0.5 billion.

Exports of services decreased $0.1 billion to $60.0 billion in November.

  • Transport, which includes freight and port services and passenger fares, decreased $0.1 billion.
  • Government goods and services decreased $0.1 billion.
  • Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $3.7 billion to $183.5 billion in November.

Imports of goods on a Census basis decreased $3.5 billion.

  • Consumer goods decreased $3.0 billion.
    • Cell phones and other household goods decreased $1.8 billion.
    • Pharmaceutical preparations decreased $0.6 billion.
  • Capital goods decreased $0.6 billion.
    • Computers decreased $0.3 billion.

Net balance of payments adjustments decreased $0.2 billion.

Imports of services decreased $0.1 billion to $41.1 billion in November.

  • Travel (for all purposes including education) decreased $0.1 billion.

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

The November figures show surpluses, in billions of dollars, with South and Central America ($2.7), OPEC ($1.1), Saudi Arabia ($0.4), United Kingdom ($0.3), and Brazil ($0.1). Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($12.8), Japan ($5.6), Germany ($5.5), Mexico ($5.4), Italy ($2.4), South Korea ($2.3), India ($2.1), France ($2.1), and Canada ($0.9).

 The deficit with Mexico decreased $0.9 billion to $5.4 billion in November. Exports decreased $0.9 billion to $18.8 billion and imports decreased $1.8 billion to $24.2 billion.

 The surplus with members of OPEC increased $0.7 billion to $1.1 billion in November. Exports increased $1.3 billion to $6.5 billion and imports increased $0.6 billion to $5.4 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

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Export Classification Codes Part 2: Kits

Export Classification Codes Part 2: Kits                 

Written By: Crystal Carmon, Micro Analysis Branch

This is the second of three blog posts that discusses the proper way to classify mixtures, kits or parts for exports.

This blog post discusses how to classify kits using the international guidance provided in the General Rules of Interpretation (GRI).

EID Part 2When we have a product that can be classified in two or more areas, GRI 3B tells us to choose the heading that best describes the essential character. Depending on the nature of the product, essential character can be determined by value, volume, weight or another key factor.

Say we have a tire repair kit with a 12-volt, portable air compressor, a carrying bag, a pressure gauge, pliers, rubber cement, rubber plugs, a hook tool, a reamer and a knife. These various components are classified as one product because, with the exception of the carrying bag, they will be used together for a single purpose: fixing a flat tire.

Since the compressor is what is going to refill a flat tire, the tire repair kit is classified under Schedule B 8414.80.1685 – Portable air compressors under 0.57 cubic meters per minute.

Our interactive Schedule B Search Engine takes into account these and the other General Rules of Interpretation to provide export classification codes.

For more information about the search tool, check out this earlier blog post.

Also, check out our final blog post on classifying parts coming soon.

If you have questions about this topic, please comment below. You can also reach the Micro Analysis Branch at 800-549-0595, option 2 or email: eid.scheduleb@census.gov.

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Upcoming Trade Webinar

Indicator Webinar

If you have not tuned into the ongoing “Investigating Economic Indicators” webinar series yet, now is the time to start!

This webinar shows the public how they can access and use economic indicator data. These economic indicators provide monthly and quarterly data that measure the changing U.S. economy.

Tune into the final webinar for the year that will study the relationships between different manufacturing-related economic indicators, as well as discover how manufacturing indicators relate to other federal data. Look for the Manufacturing, Products and Goods Across Indicators webinar on Dec. 16 at 1 p.m. (EST) by clicking here or visiting the Economic Indicators Webinars webpage.

If you missed any prior webinars or want up-to-date information on all upcoming webinars in the series, visit our webpage. We held the sixth webinar in the series, Wholesale, Retail and International Trade Indicators in a Global Marketplace, on Oct. 28. It delved into intriguing questions surrounding wholesale, retail and international trade indicators. It also explored connections between the different trade related economic indicators within an ever-changing global marketplace.

The seventh webinar in the series, Exciting Changes with USA Trade Online, was held on Nov. 4. Now that USA Trade Online is free to the public, this webinar discussed how to set up and manage an account in USA Trade Online. In addition, it covered new data features, new fields and various functions of the now free database.

If you missed any of these webinars, you can view them <here>.

If there is a topic you would like to see presented in a webinar, contact us today at 866-564-5431.

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The Goods and Services Deficit Increased to $43.9 billion in October 2015

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $43.9 billion in October, up $1.4 billion from $42.5 billion in September, revised. October exports were $184.1 billion, $2.7 billion less than September exports. October imports were $228.0 billion, $1.3 billion less than September imports.

The October increase in the goods and services deficit reflected an increase in the goods deficit of $2.1 billion to $63.1 billion and an increase in the services surplus of $0.6 billion to $19.2 billion.

Year-to-date, the goods and services deficit increased $22.2 billion, or 5.3 percent, from the same period in 2014. Exports decreased $84.7 billion or 4.3 percent. Imports decreased $62.5 billion or 2.6 percent.

BOP

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $3.1 billion to $123.8 billion in October.

Exports of goods on a Census basis decreased $3.0 billion.

  • Industrial supplies and materials decreased $1.6 billion.
    • Fuel oil decreased $0.4 billion.
    • Other petroleum products decreased $0.4 billion.
  • Capital goods decreased $0.9 billion.
    • Industrial engines decreased $0.5 billion.

Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.4 billion to $60.3 billion in October.

  • Transport, which includes freight and port services and passenger fares, increased $0.2 billion.
  • Financial services increased $0.2 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $1.0 billion to $186.8 billion in October.

Imports of goods on a Census basis decreased $1.2 billion.

  • Industrial supplies and materials decreased $2.0 billion.
    • Crude oil decreased $1.1 billion.
    • Other petroleum products decreased $0.4 billion.
  • Foods, feeds, and beverages decreased $0.4 billion.
    • Meat products decreased $0.1 billion.

Net balance of payments adjustments increased $0.1 billion.

Imports of services decreased $0.2 billion to $41.1 billion in October.

  • Travel (for all purposes including education) decreased $0.2 billion.
  • Transport decreased $0.1 billion.

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

The October figures show surpluses, in billions of dollars, with South and Central America ($2.8), United Kingdom ($0.6), and OPEC ($0.4). Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($13.3), Mexico ($6.3), Germany ($6.2), Japan ($5.3), Italy ($2.3), South Korea ($2.3), India ($2.0), France ($1.7), Canada ($0.2), Brazil ($0.2), and Saudi Arabia (less than $0.1).

  • The surplus with members of OPEC decreased $1.3 billion to $0.4 billion in October. Exports decreased $1.6 billion to $5.1 billion and imports decreased $0.3 billion to $4.7 billion.
  • The deficit with Mexico increased $0.9 billion to $6.3 billion in October. Exports increased $0.1 billion to $19.7 billion and imports increased $1.0 billion to $26.0 billion.
  • The balance with the United Kingdom shifted from a deficit of $1.2 billion to a surplus of $0.6 billion in October. Exports increased $0.4 billion to $5.2 billion and imports decreased $1.4 billion to $4.5 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise speci

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Export Classification Codes Part 1: Mixtures

By: Crystal Carmon, Micro Analysis Branch

Have you ever had a question about the proper way to classify exports? With mixtures, kits, and parts, correctly classifying products can be especially tricky. This is the first of three blogs that will try to demystify the process, starting with mixtures..

The General Rules of Interpretation (GRI) are a standard set of rules that helps exporters determine the correct classification for products. It provides international guidance on how to classify mixtures and kits and the <Additional U.S. Rule> provides guidance on classifying parts in the U.S.

According to GRI 2B, mixtures and combinations are classified based on the essential character unless the mixture is specifically referenced. A product’s essential character can be thought of as what it is, what it does and what it’s made of.

Classification 1.pngThere are some mixtures that are pretty simple to classify. For example, a package of mixed frozen vegetables would be classified under Schedule B 0710.90.0000 – Mixtures of vegetables.

Heading 0710 is for vegetables (uncooked or cooked by steaming or boiling in water), frozen.

However, sometimes mixtures aren’t as straight forward as a bag of frozen vegetables. A glow light stick that is made up of a fluorescent dye and activating solution is kept separate until the inner vial is broken by bending the stick. Neither individual solution provides the essential character, but it’s the combination that makes the light stick glow.

Therefore, we would classify this under classification 2Schedule B 3824.90.9270 – Other chemical products and preparations of the chemical or allied industries (including those consisting of mixtures of natural products), not elsewhere specified.

Our interactive Schedule B Search Engine takes into account these and the other General Rules of Interpretation to provide export classification codes.

If you have questions about this topic, please comment below. You can also reach the Micro Analysis Branch at 800-549-0595, option 2 or email: eid.scheduleb@census.gov.

For more information about the search tool, check out this earlier blog post.

Keep your eyes open for blog posts on classifying kits and parts in the coming weeks.

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The Goods and Services Deficit Decreased to $40.8 billion in September 2015

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $40.8 billion in September, down $7.2 billion from $48.0 billion in August, revised. September exports were $187.9 billion, $3.0 billion more than August exports. September imports were $228.7 billion, $4.2 billion less than August imports.

The September decrease in the goods and services deficit reflected a decrease in the goods deficit of $7.3 billion to $60.3 billion and a decrease in the services surplus of $0.1 billion to $19.5 billion.

Year-to-date, the goods and services deficit increased $14.9 billion, or 3.9 percent, from the same period in 2014. Exports decreased $66.3 billion or 3.8 percent. Imports decreased $51.3 billion or 2.4 percent.

BOPExports (Exhibits 3, 6, and 7)

Exports of goods increased $2.9 billion to $127.3 billion in September.

Exports of goods on a Census basis increased $2.8 billion.

  • Consumer goods increased $1.3 billion.
    • Artwork, antiques, and stamps increased $0.5 billion.
    • Jewelry increased $0.3 billion.
  • Capital goods increased $0.9 billion.

Net balance of payments adjustments increased $0.1 billion.

Exports of services increased $0.1 billion to $60.6 billion in September.

  • Travel (for all purposes including education) increased $0.1 billion.
  • Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $4.4 billion to $187.6 billion in September.

Imports of goods on a Census basis decreased $4.3 billion.

  • Industrial supplies and materials decreased $1.6 billion.
    • Crude oil decreased $1.3 billion.
  • Capital goods decreased $1.0 billion.
    • Civilian aircraft decreased $0.6 billion.

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

Imports of services increased $0.1 billion to $41.1 billion in September.

  • Travel (for all purposes including education) increased $0.1 billion.

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

The September figures show surpluses, in billions of dollars, with South and Central America ($3.6), OPEC ($1.7), Brazil ($0.2), and Saudi Arabia ($0.2). Deficits were recorded, in billions of dollars, with China ($30.7), European Union ($13.1), Germany ($5.7), Japan ($5.5), Mexico ($5.4), Italy ($2.3), India ($2.0), South Korea ($1.8), Canada ($1.7), France ($1.3), and United Kingdom ($1.2).

  • The deficit with China decreased $2.2 billion to $30.7 billion in September. Exports increased $0.4 billion to $10.2 billion and imports decreased $1.8 billion to $41.0 billion.
  • The deficit with the European Union decreased $1.4 billion to $13.1 billion in September. Exports increased $1.1 billion to $22.7 billion and imports decreased $0.3 billion to $35.9 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

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Upcoming Trade Webinars

Indicator WebinarIf you have not tuned into the ongoing “Investigating Economic Indicators” webinar series yet, now is the time to start!

This webinar shows the public how they can access and use economic indicator data. These economic indicators provide monthly and quarterly data that measure the changing U.S. economy.

Tune into the seventh webinar in the series, Exciting Changes with USA Trade Online, on Nov. 4. Now that USA Trade Online is free to the public, in this webinar you will learn how to set up and manage an account in USA Trade Online. In addition, we’ll cover new data features, new fields and various functions of the now free database.

The final webinar for the year will study the relationships between different manufacturing-related economic indicators, as well as discover how manufacturing indicators relate to other federal data. Look for the Manufacturing, Products and Goods Across Indicators webinar coming in December.

If you missed any prior webinars or want up-to-date information on all upcoming webinars in the series, visit our webpage. We held the sixth webinar in the series, Wholesale, Retail and International Trade Indicators in a Global Marketplace, on Oct. 28. It delved into intriguing questions surrounding wholesale, retail and international trade indicators. It also explored connections between the different trade related economic indicators within an ever-changing global marketplace. If you missed it, you can view it <here>.

If there is a topic you would like to see presented in a webinar, contact us today at 866-564-5431.

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Collaboration Crushes Trade Fraud

Guest Post from Customs and Border Protection

The Census Bureau periodically works with the U.S. Customs and Border Protection to communicate important information to the trade community. Here is one of a series of posts that provides this information.

Have you ever wondered why you have to put the Vehicle Identification Number in your Electronic Export Information to the Automated Export System when reporting a vehicle?

Doing so helps U.S. Customs and Border Protection identify and shut down the trade of unsafe or illegal goods. Agencies across the federal government and across the globe collaborate to reduce trade fraud. Through Operation Atlantic, the United States and the United Kingdom have partnered to address illegal vehicle shipments. This article from Frontline highlights this partnership and details one way in which government agencies are collaborating in an effort to keep commerce strong and people safe.

Check out the full article from CBP!

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USA Trade Online is Now FREE!

By: Henock Kebede, International Trade Macro Analysis Branch Survey Statistician

Beginning Oct. 15, the newly redesigned USA Trade Online  became free for all users to access.

In addition, current users will find many new data fields and functions. The change will make this Census Bureau-provided data tool an even more powerful instrument for accessing and viewing U.S. international trade data.

USA Trade going free

In honor of the second World Statistics Day, now is the time to explore the rich variety of statistics available in USA Trade Online and learn how they support this year’s World Statistics Day theme of “Better Data. Better Lives”.

How does this affect my existing account?

If you currently have an active individual account that expires after Oct. 15, then the transition will be transparent to you and your access will continue uninterrupted.

Any USA Trade Online account with an annual subscription expiring after Oct. 15 will receive a refund for any remaining balance.

Because USA Trade Online will be free to access, multi-user site license holders will need to make the following changes:

    • Accounts: Create a single individual account to share among your users, or each person in your organization may create their own account. Stay tuned for further instructions by visiting the USA Trade Online website.
    • Saved reports: Any saved reports on a site license account will be transitioned to the new individual account.

We are excited about being able to provide all international trade data without cost. Please be sure to visit the USA Trade Online website frequently for updates and news about this transition. You can also contact us at 1-800-549-0595, option 4, if you have any questions.

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