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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.
International Trade (Picture Autor: Maurice Marcellin) licence Creative Commons
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

Source U.S. Department of Commerce, BEA.gov
Picture Autor: (Maurice Marcellin) licence Creative Commons.


             
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