|
U.S. Trade activity softens in September
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
The trade of goods and services across U.S. borders softened in September, narrowing U.S. Trade deficit as imports lead the decline.
U.S. trade gap faded in September by -4.5 % , reported by the Commerce Department. The shrinking deficit will add to the GDP growth, although consumption of goods and services fell, as falling oil prices were the main reason behind the lower imports, leaving more disposable income to spend on other goods and services, economists think.
|
 |
Declining oil price in September helped to moderate petroleum trade gap.
The U.S. trade deficit with China edged down to $-31.8 billion in September from the deficit of $-32.8 billion recorded in August, led by declining imports from China.
Chinese officials believe that a higher value of the yuan would not solve the U.S. trade deficit.
• Imports of Crude Oil
|
|
|
|
|
|
|
-1.44%
|
-0.48%
|
-4.38%
|
2.90%
|
0.29%
|
-0.17%
|
-0.28%
|
-0.35%
|
Imports |
|
Imports |
|
Imports |
|
Imports |
|
|
In September imports decreased by -1.65 % to $258.4 billion, following decline in Consumer goods by -4.38 % and Other Private Services. Bucking the overall trend, imports of miscellaneous other goods and Travel services, surged.
This will sustain the narrowing of the deficit but will also slow consumer spending and GDP growth, economists predicted.
The value of U.S. crude oil imports fell to $12.1 billion in September from $12.1 billion in August as the price of a barrel of oil fell to $56.5 from $59.2 in the previous month. U.S. Imports of services increased 0.27 %, but weakining demand for foreign made goods, posted a drag on imports, goods accounted for 80.7 %, of total imports in September, they declined by -2.09 %.
• U.S. Exports by Major Category
|
Imports from europe fell, where trade with Finland fell the most, but trade with Netherlands grew by 29.84 %.
Despite the decline in the price of oil, imports from Mexico and Canada grew in September. Canada and Mexico are among the largest exporters of petroleum to the U.S.
U.S. Demand for goods from Pacific Rim Countries fell, as imports from Singapore went down, but imports of goods from Malaysia increased.
From Sep. 2018, U.S. trade gap narrowed by -2.9 %.
The Commerce Department reported, that U.S. exports dropped by -0.9 % in September, the largest decline came from exports of Foods, feeds, and beverages and Other Transportation services. Exports of Weapons fell as well, by -48.52 % to $0.42 billions. Unlike the overall trend, exports of Consumer goods and , grew. Exports of Opto-Electronics grew also, up 45.92 % to $0.52 billions.
The weakness overseas is hitting home. U.S. manufacturers, which have led the economic growth, have turned more cautious and business is slowing, according to a number of more recent sector surveys. The decline of exports was broad based, services fell -0.18 % and exports of goods declined by -1.26 %.
Products made in U.S. have seen declining demand form Pacific Rim Countries, as exports to Singapore went down, but exports of goods to Malaysia increased.
Demand for U.S. made goods increased in Brazil, Colombia and overall South and Central America.
Exports to europe improved, where demand of U.S made goods in Sweden grew the most, up 30.41 %, but exports to Austria fell by -72.36 %.
• U.S. Imports by Major Countries
|
Exports to Selected Geographical Region
|
| Technology
Group Exports |
Technology
Group Imports |
Technology
Group Trade Balance |
Total Technology Group exports
increased by $1,095
millions or
3.69 % to $30,810
millions from Aug. 2019
, caused by increase in exports of Aerospace goods by
17.42 % to $12,095
millions from Aug. 2019. Exports of Information
and Communication goods
fell by $1,095
millions or
-6.67 % to $7,175
millions.
|
Total Technology Group imports
deacreased by $0
millions or
0.00 % to $0
millions from Aug. 2019
, despite a decrease in imports of Electronics goods by
0.00 % to $0
millions from Aug. 2019. Imports of Information
and Communication goods
fell by $0
millions or
0.00 % to $0
millions.
• Imports by Technology Group
|
Total
Technology Group trade
deficit rose by $2,055 millions or 18.16 % to $13,373 millions from
deficit of $11,318
millions Aug. 2019. Information and Communications
trade
deficit rose by $795 millions or 6.33 % to $13,363 millions from
deficit of $12,568
millions Aug. 2019.
• Trade Balance by Technology Group
|
| Technology
Group Exports |
Total Technology Group exports
increased by $1,095
millions or
3.69 % to $30,810
millions from Aug. 2019
, caused by increase in exports of Aerospace goods by
17.42 % to $12,095
millions from Aug. 2019. Exports of Information
and Communication goods
fell by $1,095
millions or
-6.67 % to $7,175
millions.
|
| Technology
Group Imports |
Total Technology Group imports
deacreased by $0
millions or
0.00 % to $0
millions from Aug. 2019
, despite a decrease in imports of Electronics goods by
0.00 % to $0
millions from Aug. 2019. Imports of Information
and Communication goods
fell by $0
millions or
0.00 % to $0
millions.
• Imports by Technology Group
|
| Technology
Group Trade Balance |
Total Technology Group exports
increased by $1,095
millions or
3.69 % to $30,810
millions from Aug. 2019
, caused by increase in exports of Aerospace goods by
17.42 % to $12,095
millions from Aug. 2019. Exports of Information
and Communication goods
fell by $1,095
millions or
-6.67 % to $7,175
millions.
|
U.S. International Trade in Goods & Services
(In millions $)
U.S. International Trade
in Goods & Services
(In millions $) |
Sep. 2019
|
Aug. 2019
|
July 2019
|
June 2019
|
May 2019
|
April 2019
|
| Total Trade Balance |
|
-52,450 |
-54,896 |
-53,989 |
-55,154 |
-55,520 |
-50,791 |
| Trade Balance of Goods |
|
-71,718 |
-74,424 |
-73,664 |
-75,121 |
-76,141 |
-71,713 |
| Trade Balance of Services |
|
19,267 |
19,528 |
19,675 |
19,967 |
20,621 |
20,922 |
| Total Exports |
|
205,990 |
207,866 |
207,401 |
206,300 |
210,636 |
206,847 |
| Exports of Goods |
|
136,833 |
138,582 |
138,157 |
137,135 |
140,830 |
136,942 |
| Exports of Services |
|
69,156 |
69,284 |
69,244 |
69,166 |
69,807 |
69,905 |
| Total Imports |
|
258,440 |
262,763 |
261,391 |
261,454 |
266,156 |
257,638 |
| Imports of Goods |
|
208,551 |
213,007 |
211,822 |
212,255 |
216,971 |
208,655 |
| Imports of Services |
|
49,889 |
49,756 |
49,569 |
49,199 |
49,186 |
48,983 |
U.S. Trade Balance by Selected Countries and Areas
( In millions $)
U.S. Trade Balance by Selected Countries and Areas
( In millions $) |
Aug. 2019
|
July 2019
|
June 2019
|
May 2019
|
April 2019
|
March 2019
|
| Total Goods |
|
-78,547 |
-87,244 |
-70,307 |
-79,708 |
-74,718 |
-61,025 |
| North America |
|
-10,379 |
-11,462 |
-12,758 |
-12,969 |
-9,717 |
-10,861 |
| Canada |
|
-1,426 |
-3,486 |
-2,906 |
-3,325 |
-1,550 |
-1,356 |
| Mexico |
|
-8,954 |
-7,976 |
-9,852 |
-9,644 |
-8,167 |
-9,505 |
| Europe |
|
-18,980 |
-24,001 |
-17,182 |
-20,680 |
-22,207 |
-16,957 |
| European Union |
|
-15,348 |
-20,122 |
-14,012 |
-17,166 |
-17,688 |
-14,176 |
| Austria |
|
-732 |
102 |
-1,011 |
-828 |
-766 |
-741 |
| Belgium |
|
1,951 |
828 |
952 |
1,070 |
1,062 |
1,397 |
| Czech Republic |
|
-275 |
-272 |
-215 |
-242 |
-227 |
-222 |
| Finland |
|
-260 |
-367 |
-439 |
-595 |
-524 |
-457 |
| France |
|
-1,254 |
-2,386 |
-1,603 |
-1,943 |
-2,274 |
-1,335 |
| Germany |
|
-7,149 |
-6,973 |
-4,800 |
-5,855 |
-5,872 |
-5,630 |
| Hungary |
|
-313 |
-329 |
-276 |
-171 |
-232 |
-235 |
| Ireland |
|
-3,978 |
-4,514 |
-4,268 |
-5,054 |
-4,096 |
-4,593 |
| Italy |
|
-2,820 |
-3,697 |
-2,567 |
-2,762 |
-3,295 |
-2,591 |
| Netherlands |
|
892 |
1,355 |
1,983 |
1,313 |
1,806 |
2,457 |
| Poland |
|
-200 |
-344 |
-29 |
-353 |
-167 |
-272 |
| Spain |
|
-301 |
-481 |
-128 |
184 |
-424 |
-345 |
| Sweden |
|
-383 |
-735 |
-724 |
-720 |
-707 |
-660 |
| United Kingdom |
|
704 |
-281 |
562 |
25 |
-488 |
322 |
| Other E.U. |
|
-1,230 |
-2,028 |
-1,449 |
-1,237 |
-1,486 |
-1,272 |
| Norway |
|
-174 |
-173 |
-276 |
-303 |
-477 |
-107 |
| Russia |
|
-1,552 |
-1,564 |
-1,462 |
-1,547 |
-1,735 |
-893 |
| Switzerland |
|
-2,133 |
-2,588 |
-1,794 |
-1,938 |
-2,293 |
-1,871 |
| Other Europe |
|
226 |
446 |
363 |
274 |
-15 |
90 |
| Euro Area |
|
-14,144 |
-17,145 |
-12,524 |
-15,005 |
-15,062 |
-12,650 |
| Pacific Rim Countries |
|
-42,883 |
-44,032 |
-37,933 |
-39,035 |
-37,343 |
-29,776 |
| Australia |
|
1,161 |
1,210 |
1,192 |
978 |
1,182 |
1,304 |
| China |
|
-31,757 |
-32,775 |
-29,968 |
-30,195 |
-26,903 |
-20,749 |
| Japan |
|
-6,245 |
-6,331 |
-5,711 |
-5,348 |
-7,242 |
-6,609 |
| Malaysia |
|
-2,843 |
-2,223 |
-2,037 |
-2,291 |
-1,786 |
-2,393 |
| Philippines |
|
-330 |
-483 |
-355 |
-426 |
-244 |
-251 |
| Newly Industrialized Countries
(NICS) |
|
-10,785 |
-9,498 |
-6,838 |
-10,406 |
-8,774 |
-8,779 |
| Hong Kong |
|
2,079 |
1,995 |
2,537 |
2,139 |
1,863 |
2,283 |
| Korea |
|
-2,123 |
-1,831 |
-1,132 |
-1,585 |
-1,815 |
-1,540 |
| Singapore |
|
707 |
-331 |
33 |
538 |
505 |
521 |
| Taiwan |
|
-2,424 |
-2,255 |
-1,699 |
-1,744 |
-2,017 |
-1,565 |
| Other Pacific Rim |
|
92 |
-21 |
-4 |
1 |
-11 |
180 |
| South/Central America |
|
5,015 |
2,808 |
5,054 |
4,425 |
3,932 |
4,957 |
| Argentina |
|
389 |
225 |
450 |
301 |
330 |
173 |
| Brazil |
|
1,328 |
506 |
1,273 |
534 |
802 |
1,063 |
| Chile |
|
513 |
529 |
455 |
612 |
170 |
65 |
| Colombia |
|
65 |
-172 |
-16 |
-16 |
-252 |
175 |
| Other South/Central America |
|
2,720 |
1,721 |
2,892 |
2,994 |
2,882 |
3,480 |
| OPEC |
|
701 |
-100 |
-208 |
-156 |
-143 |
1,120 |
| Indonesia |
|
-1,201 |
-986 |
-789 |
-1,102 |
-876 |
-957 |
| Nigeria |
|
-395 |
-246 |
-167 |
-305 |
48 |
-15 |
| Saudi Arabia |
|
226 |
-140 |
-307 |
-74 |
-260 |
427 |
| Venezuela |
|
50 |
50 |
67 |
30 |
-96 |
-83 |
| Other OPEC |
|
820 |
236 |
199 |
193 |
165 |
792 |
| Africa |
|
-602 |
-297 |
-272 |
-924 |
-344 |
108 |
| Algeria |
|
-42 |
-28 |
-213 |
-310 |
-293 |
-234 |
| Egypt |
|
180 |
102 |
250 |
38 |
383 |
394 |
| South Africa |
|
-256 |
-136 |
-180 |
-186 |
-272 |
-101 |
| Other Africa |
|
-482 |
-234 |
-129 |
-466 |
-162 |
49 |
| Other Countries |
|
-10,785 |
-9,498 |
-6,838 |
-10,406 |
-8,774 |
-8,779 |
| India |
|
-2,179 |
-2,421 |
-899 |
-2,531 |
-1,831 |
-1,665 |
| Thailand |
|
-1,980 |
-1,875 |
-1,559 |
-1,789 |
-1,713 |
-1,719 |
| Other |
|
-6,626 |
-5,202 |
-4,380 |
-6,086 |
-5,230 |
-5,396 |
U.S. Imports by Major Category
( In millions $)
Imports by Major Category
( In millions $) |
Sep. 2019
|
Aug. 2019
|
July 2019
|
June 2019
|
May 2019
|
April 2019
|
| Total |
|
258,440 |
262,763 |
261,391 |
261,454 |
266,156 |
257,638 |
| Total Services |
|
49,889 |
49,756 |
49,569 |
49,199 |
49,186 |
48,983 |
| Travel |
|
738 |
722 |
770 |
812 |
771 |
765 |
| Passenger Fares |
|
9,044 |
9,063 |
9,025 |
9,092 |
9,159 |
8,918 |
| Other Transportation |
|
12,651 |
12,579 |
12,532 |
12,573 |
12,588 |
12,680 |
| Royalties and License Fees |
|
4,262 |
4,227 |
4,157 |
4,086 |
4,085 |
4,062 |
| Other Private Services |
|
2,893 |
2,901 |
2,897 |
2,765 |
2,732 |
2,749 |
| Transfers Under U.S. Military
Sales Contracts |
|
4,877 |
4,863 |
4,834 |
4,856 |
4,851 |
4,841 |
| U.S. Government Misc.
Services |
|
3,516 |
3,515 |
3,513 |
3,696 |
3,688 |
3,672 |
| Total Goods
|
|
208,551 |
213,007 |
211,822 |
212,255 |
216,971 |
208,655 |
| Foods, feeds, and beverages |
|
12,772 |
12,613 |
12,770 |
12,699 |
12,786 |
12,845 |
| Industrial supplies and materials |
|
41,923 |
42,536 |
44,008 |
43,139 |
46,392 |
44,568 |
| Capital goods, except automotive |
|
56,162 |
57,271 |
55,408 |
56,913 |
57,251 |
55,617 |
| Automotive vehicles, parts, and
engines |
|
30,851 |
31,953 |
32,738 |
32,633 |
33,234 |
30,907 |
| Consumer goods |
|
54,716 |
57,225 |
55,344 |
54,733 |
55,646 |
54,295 |
| Other goods |
|
10,389 |
9,549 |
9,797 |
10,495 |
9,773 |
8,756 |
Exports by Technology Group
( In millions $)
Exports by Technology Group
(
In millions $) |
Sep. 2019
|
Aug. 2019
|
July 2019
|
June 2019
|
May 2019
|
April 2019
|
| Total Technology Group |
|
30,810 |
29,715 |
29,670 |
30,645 |
29,949 |
27,868 |
| Advanced Materials |
|
253 |
248 |
260 |
250 |
248 |
279 |
| Aerospace |
|
12,095 |
10,301 |
11,031 |
12,279 |
11,320 |
9,972 |
| Biotechnology |
|
2,158 |
1,878 |
2,637 |
1,808 |
1,763 |
1,815 |
| Electronics |
|
4,016 |
4,240 |
3,946 |
3,991 |
3,821 |
3,596 |
| Flexible Manufacturing |
|
1,442 |
1,404 |
1,346 |
1,392 |
1,472 |
1,567 |
| Information and Communications |
|
7,175 |
7,688 |
7,185 |
7,573 |
7,869 |
7,613 |
| Life Science |
|
2,656 |
2,702 |
2,462 |
2,705 |
2,647 |
2,480 |
| Nuclear Technology |
|
79 |
87 |
57 |
58 |
186 |
63 |
| Opto-Electronics |
|
518 |
355 |
331 |
423 |
401 |
364 |
| Weapons |
|
418 |
812 |
415 |
165 |
221 |
121 |
Annual Report on U.S. International Trade in Goods & Services
(In millions $)
U.S. International Trade
in Goods & Services
(In millions $) |
2018
|
2017
|
2016
|
2015
|
2014
|
2013
|
| Total Trade Balance |
|
-621,036 |
-566,031 |
-504,793 |
-531,503 |
-471,532 |
-471,532 |
| Trade Balance of Goods |
|
-891,251 |
-810,023 |
-752,507 |
-758,934 |
-703,159 |
-703,159 |
| Trade Balance of Services |
|
270,215 |
243,993 |
247,714 |
227,431 |
231,627 |
231,627 |
| Total Exports |
|
2,499,970 |
2,329,311 |
2,208,072 |
2,230,317 |
2,272,320 |
2,272,320 |
| Exports of Goods |
|
1,671,839 |
1,551,434 |
1,455,704 |
1,513,888 |
1,590,350 |
1,590,350 |
| Exports of Services |
|
828,131 |
777,877 |
752,368 |
716,429 |
681,970 |
681,970 |
| Total Imports |
|
3,121,006 |
2,895,342 |
2,712,866 |
2,761,820 |
2,743,851 |
2,743,851 |
| Imports of Goods |
|
2,563,090 |
2,361,458 |
2,208,211 |
2,272,821 |
2,293,508 |
2,293,508 |
| Imports of Services |
|
557,916 |
533,884 |
504,654 |
488,999 |
450,343 |
450,343 |
|
