The Building Blocks of Gross Domestic Product Webinar

By Erwin (Randy) Parson, International Trade Management Division

You may already know that the gross domestic product (GDP) produced by the Bureau of Economic Analysis measures economic activity, but do you know how the U.S. Census Bureau’s economic indicators data are included? Join us March 30 at 1 p.m. (EDT) for this joint webinar with the Bureau of Economic Analysis on “The Building Blocks of Gross Domestic Product.” This webinar will explore how the Census Bureau’s economic indicators contribute to the Gross Domestic Product.

This webinar is part of the “Investigating Economic Indicators” webinar series that discusses how economic indicators keep the world informed by providing the first official measures of the changing U.S. economy.

To register, click here.

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Publication of a Notice of Proposed Rulemaking to Revise the Foreign Trade Regulations

Written by: Shannon Barley, International Trade and Management Division

The Notice of Proposed Rulemaking (NPRM) to revise the Foreign Trade Regulations (FTR) has been published. This rule reflects new export reporting requirements that are related to the International Trade Data System (ITDS). ITDS was established by Executive Order 13659 and streamlines the export and import process for American businesses as well as the Security and Accountability for Every (SAFE) Port Act of 2006. In short, this Notice of Proposed Rulemaking creates a single window for collecting trade-related information.

Several sections in the Foreign Trade Regulations have been revised. Let’s look at the ones with the most significant impact. First, we have proposed adding two new data elements to the information that companies report. One is the “original International Transaction Number (ITN).” This would be an optional data element that could be used if a previously filed shipment is replaced or divided and additional shipment(s) must be filed. This field would help both the trade community and enforcement agencies know if the original shipment(s) was filed properly.

The second data element is the “used electronics indicator.” This is a conditional data element that asks companies to identify whether used electronics under particular Harmonized Tariff Schedules or Schedule B classification numbers are new or used. This data element would help ensure compliance with the Resource Recovery Act (RCRA) and Executive Order 13693.

Another notable revision is a change in the Automated Export System’s certification process. Filers would now register their Automated Export System account through the Customs and Border Protection (CBP) website, and there would no longer a certification quiz to register for an account.

Additionally, in accordance with Foreign Trade Regulations Letter #6, we revised the timeframes for split shipments to 24 hours by vessel or seven days by air, truck or rail. We also made revisions throughout the Foreign Trade Regulations to move entirely from paper collection of trade information to an electronic equivalent.

So what does this all mean?

As a Notice of Proposed Rulemaking, the proposed revisions are not set in stone. We invite the export trade community to make comments to the revisions we have proposed during the 60-day comment period. You can submit comments to us through the Federal e-Rulemaking portal using the RIN Number 0607-AA55.

For more information about the NPRM, please feel free to contact us at 800-549-0595, Option 3.

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What Type of Training Webinar Would You Like to See?

By Justin Edwards, International Trade Management Division

If you export products and goods from the United States, you know there can be a lot to navigate. There are regulatory and reporting requirements, general rules of interpretation for classifying imports and exports, and other topics that you need to understand. Over the past few months, the International Trade Management Division has hosted a series of webinars to provide users with guidance and tips to make it easier to navigate the plethora of trade tools available, from regulations to classifications.

As we move toward the spring, we would like to get your feedback on what kinds of webinar topics would be useful to you.

Here is a list of webinar topics we are considering:

  • How to avoid penalties and fines when reporting export information.
  • An overview of ACE (Automated Commercial Environment) Export Accounts, including ACE Export Reports.
  • Classification guidance on kits and sets.

Please comment on this blog to let us know what topic(s) you are interested in seeing or email us at itmd.outreach@census.gov. You can also call 1-800-549-0595, option 5 to speak to a representative and share your recommendation.

To view our previous webinars, please visit here.

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The Goods and Services Deficit Increased to $45.7 billion in January 2016

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 $45.7 billion in January, up $1.0 billion from $44.7 billion in December, revised. January exports were $176.5 billion, $3.8 billion less than December exports. January imports were $222.1 billion, $2.8 billion less than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $1.1 billion to $63.7 billion and an increase in the services surplus of $0.1 billion to $18.0 billion.

Year-over-year, the goods and services deficit increased $2.1 billion, or 4.8 percent, from January 2015. Exports decreased $12.5 billion or 6.6 percent. Imports decreased $10.5 billion or 4.5 percent.

bopExports (Exhibits 3, 6, and 7)

Exports of goods decreased $4.0 billion to $116.9 billion in January.

Exports of goods on a Census basis decreased $3.9 billion.

  • Capital goods decreased $1.2 billion.
  • Industrial supplies and materials decreased $0.9 billion.
    • Fuel oil decreased $0.7 billion.
  • Consumer goods decreased $0.8 billion.

 Net balance of payments adjustments decreased $0.1 billion.

 Exports of services increased $0.2 billion to $59.6 billion in January.

  • Travel (for all purposes including education) increased $0.2 billion.
  • Transport, which includes freight and port services and passenger fares, increased $0.1 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $2.9 billion to $180.6 billion in January.

Imports of goods on a Census basis decreased $2.8 billion.

  • Industrial supplies and materials decreased $2.1 billion.
    • Crude oil decreased $1.8 billion.
  • Capital goods decreased $1.2 billion.
    • Civilian aircraft decreased $0.9 billion.

 Net balance of payments adjustments decreased $0.1 billion.

Imports of services increased less than $0.1 billion to $41.5 billion in January.

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

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

The January figures show surpluses, in billions of dollars, with South and Central America ($3.1) and Brazil ($0.6). Deficits were recorded, in billions of dollars, with China ($31.1), European Union ($12.6), Germany ($5.8), Japan ($5.6), Mexico ($5.6), South Korea ($2.9), Italy ($2.4), India ($2.3), France ($1.5), Canada ($0.5), Saudi Arabia ($0.2), OPEC ($0.2), and United Kingdom ($0.1).

  • The deficit with China increased $1.4 billion to $31.1 billion in January. Exports increased less than $0.1 billion to $8.6 billion and imports increased $1.5 billion to $39.8 billion.
  • The deficit with Mexico increased $0.8 billion to $5.6 billion in January. Exports decreased less than $0.1 billion to $19.5 billion and imports increased $0.8 billion to $25.1 billion.

 

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

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Automated Export System Compliance Seminar Schedule 2016

We are happy to share with you our 2016 Automated Export System (AES) compliance seminar series. For the latest dates and registration details, visit our site.

What is an AES Compliance Seminar?

The AES Compliance Seminar is a one-day program where experts from the Census Bureau and Bureau of Industry and Security as well as Customs and Border Protection officers from nearby ports discuss export topics such as:

  • Mandatory export filing requirements.
  • How to file the export information in the Automated Commercial Environment (ACE).
  • How to avoid common penalties and seizure of cargo.
  • Bureau of Industry and Security export control requirements.
  • How to classify your product by Schedule B number and Export Control Classification Numbers (ECCN).
  • Best practices for maintaining compliance with export regulations.

Please note: The AES Compliance Seminar qualifies for seven Certified Export Specialist (CES) credits.

Wondering why you should register?

Our 2016 series has been updated to ensure we are providing the latest regulatory requirements on exporting, as well as step-by-step instructions with visuals on how to file through the new AES in ACE. Furthermore, we have a great lineup of federal experts. No other seminar can offer such valuable information!

The 2016 schedule:

   Indianapolis, IN February 23
   Charleston, SC March 9
   Jackson, MS April 13
   Salt Lake City, UT April 27
   Houston, TX May 4
   Seattle, WA May 18
   Philadelphia, PA June 7
   Baltimore, MD June 21
   Fort Lauderdale, FL (Spanish) July 20
   Fort Lauderdale, FL July 21
   Orlando, FL September 20
   Laredo, TX (Spanish) October 12
   Chicago, IL November 2
   Boston, MA December 7

 

Click here  for more information on the compliance seminar schedule and details. 

For more information on these training opportunities, please visit: census.gov/foreign-trade/aes/meetingsandpresentations.

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The Goods and Services Deficit Increased to $43.4 billion in December 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 $43.4 billion in December, up $1.1 billion from $42.2 billion in November, revised. December exports were $181.5 billion, $0.5 billion less than November exports. December imports were $224.9 billion, up $0.6 billion from November.

The December increase in the goods and services deficit reflected an increase in the goods deficit of $1.3 billion to $62.5 billion and an increase in the services surplus of $0.1 billion to $19.2 billion.

For 2015, the goods and services deficit was $531.5 billion, up $23.2 billion or 4.6 percent from 2014. Exports were $2,230.3 billion, down $112.9 billion or 4.8 percent. Imports were $2,761.8 billion, down $89.7 billion or 3.1 percent.

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Annual Summary for 2015

For 2015, the goods and services deficit was $531.5 billion, up $23.2 billion from $508.3 billion in 2014. Exports were $2,230.3 billion in 2015, down $112.9 billion from 2014. Imports were $2,761.8 billion in 2015, down $89.7 billion from 2014.

The 2015 increase in the goods and services deficit reflected an increase in the goods deficit of $17.5 billion or 2.4 percent to $758.9 billion and a decrease in the services surplus of $5.7 billion or 2.4 percent to $227.4 billion.

As a percentage of U.S. gross domestic product, the goods and services deficit was 3.0 percent in 2015, up from 2.9 percent in 2014.

bop_annual

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $118.8 billion to $1,513.9 billion in 2015.

Exports of goods on a Census basis decreased $115.6 billion.

  • Industrial supplies and materials decreased $76.9 billion.
    • Fuel oil decreased $22.2 billion.
    • Other petroleum products decreased $16.1 billion.
  • Foods, feeds, and beverages decreased $16.0 billion.
    • Soybeans decreased $5.3 billion.

Net balance of payments adjustments decreased $3.1 billion.

Exports of services increased $5.9 billion to $716.4 billion in 2015.

  • Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $9.3 billion.
  • Transport, which includes freight and port services and passenger fares, decreased $5.4 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $101.3 billion to $2,272.8 billion in 2015.

Imports of goods on a Census basis decreased $106.6 billion.

  • Industrial supplies and materials decreased $180.8 billion.
    • Crude oil decreased $120.5 billion.
    • Fuel oil decreased $17.3 billion.
  • Consumer goods increased $37.5 billion.
    • Pharmaceutical preparations increased $16.4 billion.

Net balance of payments adjustments increased $5.3 billion.

Imports of services increased $11.6 billion to $489.0 billion in 2015.

  • Travel (for all purposes including education) increased $9.7 billion.
  • Other business services increased $5.2 billion.
  • Transport increased $3.1 billion.

Goods by Selected Countries and Areas – Census Basis (Exhibits 14 and 14a)

The 2015 figures show surpluses, in billions of dollars, with South and Central America ($37.4), Hong Kong ($30.5), Australia ($14.2), Singapore ($10.4), OPEC ($6.6), and Brazil ($4.3). Deficits were recorded, in billions of dollars, with China ($365.7), European Union ($153.3), Germany ($74.2), Japan ($68.6), Mexico ($58.4), South Korea ($28.3), Italy ($27.8), India ($23.2), Malaysia ($21.5), France ($17.6), Thailand ($17.3), Canada ($14.9), and Taiwan ($14.8).

  • The deficit with China increased $22.6 billion to $365.7 billion in 2015. Exports decreased $7.5 billion to $116.2 billion and imports increased $15.1 billion to $481.9 billion.
  • The surplus with Brazil decreased $7.6 billion to $4.3 billion in 2015. Exports decreased $10.8 billion to $31.7 billion and imports decreased $3.1 billion to $27.4 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 3: Parts

Written By: Crystal Carmon, Micro Analysis Branch

This is the final blog post in the Export Classification Codes blog series that discusses the proper way to classify mixtures, kits or parts for exports.

This blog post discusses how to classify parts according to the Additional U.S. Rule.

According to Additional U.S. Rule 1B, goods that are specifically provided for in Schedule B must be classified as such and not as “parts”.

Aircraft seats and windshields have their own Schedule B numbers: 9401.10.0000 and 7007.21.1000, respectively. For that reason, it would be unacceptable to classify either product as aircraft parts.

chair                                       

 

 

 

 

However, sometimes the classification will depend on what the product will be used for.

For example, titanium screws for medical implants are classified under Schedule B 9021.10.0050 – Bone plates, screws and nails, and other internal fixation devices or appliances while titanium fasteners for aircraft are classified under Schedule B 8108.90.0000 – Other articles of titanium.3-right-part1

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 <Export Classification Codes Part 1>  and <Part 2>.4-right-part2

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

 

 

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Improvements to the Release of Economic Indicators Mean You Get Data Faster

This is a repost from the US Census Bureau Director’s Blog. 

Written by: John H. Thompson

Every month, the Census Bureau releases key indicators of America’s economy. These indicators are critical to the analysis of the nation’s current and future economic performance. Businesses in America, and around the world, rely heavily upon them to make decisions every day.

Today, the Census Bureau announced a significant improvement in the way we release these indicators. We’ve reduced the lag between the indicators’ official release and when they are posted to the web to the smallest it’s ever been. As of today, every person in America will have access to the indicators in as little as one second after their release.

This improvement comes in response to our customers’ requests for more timely access to our data. Because of the indicators’ value, data users such as business owners, researchers, investors, economists and policymakers want access to it as quickly as possible.

Enhancing the accessibility of our data via the web is a key aspect of the Census Bureau’s digital transformation. The new streamlined, automated method allows customers to access economic indicators on census.gov more expeditiously and efficiently by optimizing the process required to post economic indicator data to the Internet.

To view today’s release of economic indicators, click here. You can find more economic indicators from the Census Bureau at www.census.gov/economic-indicators or by downloading the America’s Economy app.

For more information about the Census Bureau’s digital transformation and the release of economic indicators, please contact the Public Information Office at pio@census.gov.

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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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