International Trade University Webinar – FTR 401

Webinar Series Spring 2015
On June 11, we held our 7th webinar in our International Trade University Webinar Series–FTR 401: Regulatory Changes.  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 Trade Regulations Branch presented on the following items:

  • Overview of recent and future changes to the Foreign Trade Regulations (FTR)
  • FTR Letters
  • Recent and Upcoming Changes to the FTR
  • Advanced Export Information (AEI) Pilot Program

Don’t forget to mark your calendar for June 25th @ 2pm ET. We will have experts from the Bureau of Industry and Security who will provide an Introduction to 600 series.  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 – CLAS 301

Webinar Series Spring 2015

On May 28, we held our 6th webinar in our International Trade University Webinar Series–CLAS 301: Live Classification Session.  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 conducted a live demonstration classifying products submitted by you and other members of the trade community.

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

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Goods and Services Deficit decreased in April 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 $40.9 billion in April, down $9.7 billion from $50.6 billion in March, revised. April exports were $189.9 billion, $1.9 billion more than March exports. April imports were $230.8 billion, $7.8 billion less than March imports.

The April decrease in the goods and services deficit reflected a decrease in the goods deficit of $9.3 billion to $60.7 billion and an increase in the services surplus of $0.4 billion to $19.8 billion.

Year-to-date, the goods and services deficit increased $1.5 billion, or 0.9 percent, from the same period in 2014. Exports decreased $18.0 billion or 2.3 percent. Imports decreased $16.5 billion or 1.8 percent.

April 2015 Trade Balance

 

Exports (Exhibits 3, 6, and 7)

Exports of goods increased $1.9 billion to $129.0 billion in April.

Exports of goods on a Census basis increased $2.1 billion.

  • Capital goods increased $2.1 billion.
    • Civilian aircraft increased $1.0 billion.
    • Telecommunications equipment increased $0.6 billion.
    • Other industrial machines increased $0.3 billion.

Net balance of payments adjustments decreased $0.2 billion.

Exports of services increased less than $0.1 billion to $60.9 billion in April.

  • Other business services increased $0.1 billion.
  • Transport, which includes freight and port services and passenger fares, decreased $0.2 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $7.4 billion to $189.6 billion in April.

Imports of goods on a Census basis decreased $7.5 billion.

  • Consumer goods decreased $4.9 billion.
    • Cell phones and other household goods decreased $1.3 billion.
    • Other textile apparel and household goods decreased $0.9 billion.
    • Footwear decreased $0.8 billion

Net balance of payments adjustments increased $0.1 billion.

Imports of services decreased $0.4 billion to $41.1 billion in April.

  • Transport decreased $0.5 billion.
  • Travel (for all purposes including education) increased $0.1 billion.

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

The April figures show surpluses, in billions of dollars, with South and Central America ($3.0), Brazil ($0.8), and OPEC ($0.5). Deficits were recorded, in billions of dollars, with China ($27.5), European Union ($11.9), Japan ($6.7), Germany ($5.9), Mexico ($4.2), Italy ($2.2), South Korea ($2.1), India ($1.5), France ($1.1), United Kingdom ($1.0), Canada ($0.3), and Saudi Arabia ($0.1).

The deficit with China decreased $11.4 billion to $27.5 billion in April. Exports increased $0.9 billion to $10.3 billion and imports decreased $10.5 billion to $37.7 billion.

  • The deficit with European Union increased $1.0 billion to $11.9 billion in April. Exports increased $0.9 billion to $23.6 billion and imports increased $1.9 billion to $35.6 billion.

 Revisions to Goods and Services

In the “U.S. International Trade in Goods and Services: April 2015” and in the accompanying “U.S. International Trade in Goods and Services: Annual Revision for 2014” release, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are publishing revised statistics on U.S. trade in goods for January 2012 to March 2015 and revised statistics on U.S. trade in services for January 1999 to March 2015. The revised statistics will also be included in the report “U.S. International Transactions: First Quarter 2015 and Annual Revisions” and in the international transactions interactive database on BEA’s Web site, both to be released by BEA on June 18, 2015.

This annual revision has not changed the overall trend in the goods and services balance. On an annual basis, the goods and services deficit was revised downward 0.2 percent for 2012 and was revised upward 0.4 percent for 2013 and 0.7 percent for 2014. The goods deficit was revised downward for 2012 and was revised upward for 2013 and 2014; the services surplus was nearly unrevised for 2012, was revised downward for 2013, and was revised upward for 2014. Revisions for 1999–2011 did not impact the goods and services totals or balances.

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

 

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International Trade University Webinar – CLAS 201

Webinar Series Spring 2015On May 14, we held our 5th webinar in our International Trade University Webinar Series –CLAS 201: Classification Challenges and Other Resources.  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:

  • Common classification challenges such as,
    • Essential Character
    • Kits and Sets
    • Parts
  • Useful classification references materials.

Don’t forget to mark your calendar for May 28th @ 2pm ET. We will have experts from the Trade Regulations Branch to discuss Regulatory Changes.  Go to our International Trade Outreach, Education and Training webpage for more information on this webinar and view previous recordings.

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Investigating Economic Indicators – Webinar

Indicator Blog

By: Philip Thompson

Have you ever wanted to find specialized indicator data but did not know where to look? Join us on May 20 for the Navigating Indicator Databases webinar at 1 p.m. EDT. In this webinar, viewers will learn how to navigate Census Bureau databases to find Economic Indicators data via multiple sources:

The U.S. Census Bureau’s Economic Indicators keep the world informed by providing the first official measures of the changing U.S. economy.

This dataset provides monthly and quarterly statistics that are timely, reliable and offer comprehensive measures of the U.S. economy. These statistics cover construction, housing, international trade, retail trade, wholesale trade, services and manufacturing. The data provide measures of current economic activity that allow analysis of performance and inform business investment and policy decisions.

The May 20 webinar is part of the “Investigating Economic Indicators” webinar series, where viewers will learn about the Economic Indicators data, how they can be used and how to access them. Future topics include:

  • Understanding Construction and Housing Statistics
  • Manufacturing, Products, and Goods Across Indicators
  • Measuring Our Evolving Economy: Exploring the Quarterly Financial Report and the Quarterly Services Survey’s Role in Tracking the Service Industries

Additional webinar topics will be coming soon.

Visit www.census.gov/econ/webinar for additional details and information on these webinar and to view previous webinars related to the Economic Indicators data.

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International Trade University Webinar – FTR 301

Webinar Series Spring 2015On April 30, we held the fourth webinar in our International Trade University Webinar Series — FTR 301: Types of Export Transactions. 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 two types of export transactions
  • The responsibilities of parties in the transaction
  • Differentiation between standard and routed export transactions
  • The responsibilities of parties involved

Don’t forget to mark your calendar for May 14 at 2 p.m. EDT. We will have experts from the U.S. Census Bureau to discuss classification challenges and other resources. 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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U.S. International Trade in Goods and Services – March 2015

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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 $51.4 billion in March, up $15.5 billion from $35.9 billion in February, revised. March exports … Continue reading

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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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