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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CBP Pipeline Clarification

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 provide this information. 

Joint blog post from the Census Bureau’s International Trade Management Division and from U.S. Customs and Border Protection

Recently the U.S. Customs and Border Protection (CBP) sent out a Pipeline Notice to all ports regarding guidance on how penalties will be issued for reporting the incorrect date of export. Below is a copy of the notice sent to the Port of Chicago. The CBP and U.S. Census Bureau received numerous comments about these notices. In response, the Census Bureau has collaborated with CBP to provide the following clarifications.

We received two main comments from the export trade community. The first main comment was that the notice seemed confusing because, based on the title, it appeared to address pipeline export requirements. The CBP issues Pipeline Notices as a means to communicate between the port offices and the trade community. Pipeline Notices are frequently issued to communicate many topics, however, they are not necessarily related to pipeline export requirements discussed in the Foreign Trade Regulations. The second main comment was based on the way the notice was written, because it appeared that corrections could not and should not be made in the Automated Export System (AES). The Foreign Trade Regulations require corrections to be made to the AES record as soon as they are known and this requirement has not changed.

The overall intent of the notice was to offer insight and guidance on how the CBP will be issuing penalties for the incorrect date of export reported in the AES for all ports. A one-to-four-day margin of error is allowed when reporting date of export in the AES versus the actual date of export. However, the U.S. Principal Party in Interest (USPPI) or authorized agent is responsible for transmitting any changes (corrections, cancellations, or amendments) to the information as soon as they are known.

For example, if you report “Date of Export – 9/5/2015” in the AES and the goods are actually exported on 9/7/2015, the USPPI or authorized agent would not be subject to penalties because it falls within the one-to-four-day window that the CBP allows. However, if the goods are actually exported on 9/10/2015 or afterwards, the shipment is subject to potential CBP penalties if the AES record is not updated. Even if no penalties are issued, it is always the responsibility of the USPPI or authorized agent to update the AES record as soon as they become aware of the actual date of export.

If you have further questions with regards to the CBP Pipeline Notice, please contact Robert Rawls, Chief, Outbound Enforcement and Policy at 202-344-2847.

Pipeline Clarrification

 

 

 

 

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The Goods and Services Deficit Increased to $48.3 billion in August 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 $48.3 billion in August, up $6.5 billion from $41.8 billion in July, revised. August exports were $185.1 billion, $3.7 billion less than July exports. August imports were $233.4 billion, $2.8 billion more than July imports.

The August increase in the goods and services deficit reflected an increase in the goods deficit of $6.6 billion to $67.9 billion and an increase in the services surplus of $0.1 billion to $19.6 billion.

Year-to-date, the goods and services deficit increased $17.6 billion, or 5.2 percent, from the same period in 2014. Exports decreased $58.9 billion or 3.8 percent. Imports decreased $41.3 billion or 2.2 percent.

August2015

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $4.1 billion to $124.5 billion in August.

Exports of goods on a Census basis decreased $4.0 billion.

  • Industrial supplies and materials decreased $2.2 billion.
    • Fuel oil decreased $0.6 billion.
    • Plastic materials decreased $0.2 billion.
    • Crude oil decreased $0.2 billion.

Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.4 billion to $60.6 billion in August.

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

Imports (Exhibits 4, 6, and 8)

Imports of goods increased $2.5 billion to $192.4 billion in August.

Imports of goods on a Census basis increased $3.3 billion.

  • Consumer goods increased $4.0 billion.
    • Cell phones and other household goods increased $2.1 billion.
    • Toys, games, and sporting goods increased $0.3 billion.

Net balance of payments adjustments decreased $0.8   billion.

Imports of services increased $0.3 billion to $41.1 billion in August.

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

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

The August figures show surpluses, in billions of dollars, with South and Central America ($3.3) and OPEC ($1.0).   Deficits were recorded, in billions of dollars, with China ($32.9), European Union ($14.5), Germany ($6.8), Mexico ($5.3), Japan ($5.2), South Korea ($2.7), Canada ($2.2), Italy ($2.1), France ($2.0), India ($1.9), United Kingdom ($0.3), Brazil ($0.2), and Saudi Arabia (less than $0.1).

  • The deficit with China increased $4.2 billion to $32.9 billion in August. Exports decreased $0.6 billion to $9.8 billion and imports increased $3.6 billion to $42.8 billion.
  • The deficit with the European Union increased $2.1 billion to $14.5 billion in August. Exports decreased $0.7 billion to $21.7 billion and imports increased $1.4 billion to $36.2 billion.

 

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

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New Web Features Highlight the U.S. Census Bureau’s International Data

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

Written by: John H. Thompson

The U.S. and World Population Clock is one of the most popular features on Census.gov. More than 2.4 million users a year access it to find national and world population estimates, as well as statistics on states and regions, age, sex and population density.

Today, I’m excited to showcase the addition of several new features to the World Population Clock. For the first time, basic population facts and visualizations are available for 228 countries and areas around the world, just as they are for U.S. states.

In addition, World Population Clock users can now get Census Bureau data on international trade in goods by country. It’s amazing to see the range and value of goods that states export to countries around the world – and it’s easy to download, share and embed the data in social media.

PopClock

If the new World Population Clock whets your interest in the Census Bureau’s international data, you may want to check out another recently added web feature – the International Map Viewer. This new tool shows four commonly requested demographic measures for foreign countries – total population, growth rate percent, life expectancy at birth and infant mortality rate – by clicking on a world map. It’s a great introduction to international demographic statistics from the Census Bureau, and we’ll continue to add measures to it.

I’m enthusiastic about these new features’ fusion of multiple data sources, both from within the Census Bureau (population, demographic and international trade data) and across the federal government (the maps that accompany the statistics). Many data sources have been combined to form a simple user experience. American travelers, students, researchers and businesses can now use the World Population Clock and International Map Viewer to get accurate, high-level information about countries’ populations and trade with the U.S.

This is just our latest effort to expand access to Census Bureau data through new tools and technologies. It’s part of our goal to expose our audience to new data sets and, hopefully, increase statistical literacy. These updates are part of the major upgrades we’re making to Census.gov so that our almost 50 million annual visitors can more easily find the information they want.

Try out the new World Population Clock and International Map Viewer features and tell us what you think at cnmp.web.comments@census.gov. If you like them, check out our mobile apps and other interactive data tools.

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