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U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
The nation's trade gap increased in February by 1.7 %, reported by the Commerce Department., the shrinking price of oil, cuts the trade deficit, adds to the gdp and disposable income growth, but economists believe that declining demand for oil imports might be a evidence of slowing economy.
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The U.S. trade deficit with China narrowed to $-29.3 billion in February from the deficit of $-36 billion recorded in January, led by declining imports from China.
Growth in China and other developing nations have also downshifted, cutting into demand for U.S. goods.
• Imports of Crude Oil
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1.73%
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4.75%
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0.95%
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-4.65%
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23.26%
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0.67%
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2.65%
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0.11%
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Imports |
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Imports |
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Imports |
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Imports |
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Imports increased in February by 1.76 %, reported by the Commerce Department, led by imports of Foods, feeds, beverages and Transfers Under U.S. Military Sales Contracts. Imports of Weapons increased also, up 12.90 % to $0.07 billions. Bucking the overall trend, imports of miscellaneous other goods and Other Transportation services contracted by -2.17 %. U.S. Imports of Advanced Materials also declined, by -19.09 % to $0.20 billions.
Economists think the report isn't necessarily a disaster to the extent that the surge in imports reflects strong domestic demand and restocking of store shelves.
The decline came down to oil, as petroleum imports shrank, as oil prices fell to $10.8 billion a barrel in February from $13.2 billion a barrel in January and as Americans used -17.15 % less imported energy products. U.S. Imports of services grew by 2.29 %, whats more important purcheses of foreign made products, which accounted for 81.7 %, of total imports, rose by 1.64 %.
• U.S. Exports by Major Category
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Imports from europe fell, led by -22.55 % decrease in imports Italy, but trade with Norway grew by 25.54 %.
U.S. Demand for goods from Pacific Rim Countries fell with -29.11 % decline of imports from Australia, but imports of goods from Singapore grew.
Trade with other North American countries was mixed, consumption of goods from Canada declined, while imports from Mexico advanced.
Lower U.S. consumption of oil, was evident drag on imports from OPEC countries, such as Saudi Arabia, but there were countries like Venezuela, who have managed to buck the trend and post a gain in February.
From Jan. 2017, U.S. trade gap jumped by 18.8 %, due to 8.92 % increase in imports.
Exports increased in February by 1.76 %, reported by the Commerce Department, led by growing exports of Cars, parts, engines and Passenger Fares. Exports of Opto-Electronics grew also, up 23.70 % to $0.43 billions. Bucking the overall trend, exports of Consumer goods. Exports of Weapons fell as well, by -31.62 % to $0.20 billions.
U.S. exports are rising because of faster growth in emerging markets and the favorable foreign-exchange markets, economists add. U.S. Exports of services increased by 0.9 %, services accounted for 0.9 % of total exports, sales of U.S. made products, grew by 2.19 %.
Products made in U.S. have seen declining demand form Pacific Rim Countries with -29.11 % decline of exports to Australia, but exports of goods to Singapore grew.
Exports to europe improved, where demand of U.S made goods in Sweden grew the most, up 36.92 %, but exports to Ireland fell.
In another good sign, sales to South and Central American countries were up, despite the declining exports to Brazil, americas major trading partner in the region.
• U.S. Imports by Major Countries
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Exports by Selected Geographical Region
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| Technology
Group Exports |
Technology
Group Imports |
Technology
Group Trade Balance |
Total Technology Group exports
deacreased by $1,438
millions or
-5.24 % to $26,019
millions from Jan. 2018
, despite an increase in exports of Aerospace goods by
1.48 % to $9,115
millions from Jan. 2018. Exports of Information
and Communication goods
fell by $1,438
millions or
-6.88 % to $7,149
millions.
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Total Technology Group imports
deacreased by $726
millions or
-1.91 % to $37,240
millions from Jan. 2018
, despite a decrease in imports of Electronics goods by
-5.04 % to $3,163
millions from Jan. 2018. Imports of Information
and Communication goods
rose by $726
millions or
4.14 % to $20,951
millions.
• Imports by Technology Group
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Total
Technology Group trade
deficit fell by $3,558 millions or 30.96 % to $7,933 millions from
deficit of $11,491
millions Jan. 2018. Information and Communications
trade
deficit fell by $3,139 millions or 23.03 % to $10,492 millions from
deficit of $13,631
millions Jan. 2018.
• Trade Balance by Technology Group
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U.S. International Trade in Goods & Services
(In millions $)
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U.S. International Trade
in Goods & Services
(In millions $) |
Feb. 2018
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Jan. 2018
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Dec. 2017
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Nov. 2017
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Oct. 2017
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Sep. 2017
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| Total Trade Balance |
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-57,591 |
-56,601 |
-53,118 |
-50,497 |
-48,731 |
-43,495 |
| Trade Balance of Goods |
|
-77,011 |
-76,490 |
-73,348 |
-70,892 |
-69,076 |
-65,386 |
| Trade Balance of Services |
|
19,419 |
19,890 |
20,231 |
20,395 |
20,344 |
21,891 |
| Total Exports |
|
204,445 |
200,910 |
203,351 |
200,222 |
195,907 |
196,816 |
| Exports of Goods |
|
137,179 |
134,245 |
137,470 |
134,566 |
130,321 |
130,581 |
| Exports of Services |
|
67,266 |
66,664 |
65,882 |
65,656 |
65,587 |
66,236 |
| Total Imports |
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262,037 |
257,510 |
256,469 |
250,719 |
244,639 |
240,311 |
| Imports of Goods |
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214,190 |
210,735 |
210,818 |
205,458 |
199,397 |
195,967 |
| Imports of Services |
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47,847 |
46,775 |
45,651 |
45,261 |
45,242 |
44,344 |
U.S. Trade Balance by Selected Countries and Areas
( In millions $)
U.S. Trade Balance by Selected Countries and Areas
( In millions $) |
Feb. 2018
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Jan. 2018
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Dec. 2017
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Nov. 2017
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Oct. 2017
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Sep. 2017
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| Total Goods |
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-60,679 |
-79,425 |
-64,882 |
-73,174 |
-75,973 |
-66,147 |
| North America |
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-6,449 |
-7,772 |
-7,576 |
-6,959 |
-8,457 |
-5,952 |
| Canada |
|
-386 |
-3,636 |
-2,203 |
-979 |
-1,846 |
-248 |
| Mexico |
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-6,063 |
-4,136 |
-5,373 |
-5,980 |
-6,611 |
-5,704 |
| Europe |
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-13,581 |
-15,994 |
-17,280 |
-16,649 |
-16,039 |
-12,915 |
| European Union |
|
-12,047 |
-13,617 |
-15,813 |
-14,728 |
-13,722 |
-11,425 |
| Austria |
|
-597 |
-602 |
-729 |
-852 |
-808 |
-664 |
| Belgium |
|
1,277 |
1,086 |
1,073 |
1,100 |
1,289 |
1,178 |
| Czech Republic |
|
-170 |
-149 |
-197 |
-177 |
-166 |
-190 |
| Finland |
|
-435 |
-446 |
-434 |
-425 |
-496 |
-356 |
| France |
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-1,251 |
-1,234 |
-1,781 |
-1,708 |
-1,993 |
-866 |
| Germany |
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-5,351 |
-5,386 |
-5,823 |
-5,668 |
-5,759 |
-5,362 |
| Hungary |
|
-242 |
-270 |
-303 |
-336 |
-258 |
-299 |
| Ireland |
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-3,651 |
-3,514 |
-3,727 |
-2,837 |
-2,588 |
-3,299 |
| Italy |
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-2,384 |
-2,647 |
-3,480 |
-3,010 |
-2,868 |
-2,226 |
| Netherlands |
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2,284 |
2,050 |
1,810 |
1,801 |
2,148 |
1,729 |
| Poland |
|
-212 |
-316 |
-161 |
-316 |
-252 |
-247 |
| Spain |
|
-426 |
-493 |
-592 |
-690 |
-230 |
-374 |
| Sweden |
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-501 |
-577 |
-646 |
-654 |
-640 |
-608 |
| United Kingdom |
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656 |
231 |
159 |
143 |
74 |
1,226 |
| Other E.U. |
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-1,045 |
-1,350 |
-980 |
-1,099 |
-1,175 |
-1,068 |
| Norway |
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102 |
96 |
-113 |
120 |
82 |
-104 |
| Russia |
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-693 |
-1,121 |
-796 |
-773 |
-891 |
-697 |
| Switzerland |
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-1,168 |
-1,115 |
-1,206 |
-1,500 |
-1,276 |
-814 |
| Other Europe |
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225 |
-238 |
648 |
232 |
-232 |
126 |
| Euro Area |
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-10,926 |
-11,844 |
-14,224 |
-12,796 |
-11,702 |
-10,809 |
| Pacific Rim Countries |
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-34,838 |
-44,577 |
-36,619 |
-42,698 |
-44,585 |
-41,494 |
| Australia |
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1,354 |
1,091 |
1,403 |
1,158 |
1,626 |
1,123 |
| China |
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-29,262 |
-35,953 |
-30,808 |
-35,431 |
-35,229 |
-34,638 |
| Japan |
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-5,503 |
-5,652 |
-5,527 |
-5,756 |
-6,430 |
-4,839 |
| Malaysia |
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-2,124 |
-1,937 |
-2,255 |
-2,602 |
-2,159 |
-2,165 |
| Philippines |
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-289 |
-332 |
75 |
-365 |
-301 |
-342 |
| Newly Industrialized Countries
(NICS) |
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-6,578 |
-8,799 |
-6,857 |
-8,354 |
-9,366 |
-8,122 |
| Hong Kong |
|
3,583 |
2,408 |
2,768 |
3,047 |
2,336 |
3,195 |
| Korea |
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-683 |
-1,968 |
-1,249 |
-1,832 |
-2,509 |
-1,948 |
| Singapore |
|
597 |
757 |
1,153 |
909 |
721 |
655 |
| Taiwan |
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-1,312 |
-1,691 |
-1,207 |
-994 |
-1,709 |
-1,593 |
| Other Pacific Rim |
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-48 |
-62 |
18 |
222 |
267 |
112 |
| South/Central America |
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3,055 |
1,423 |
4,067 |
3,094 |
4,307 |
2,379 |
| Argentina |
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275 |
451 |
406 |
244 |
452 |
468 |
| Brazil |
|
971 |
223 |
1,074 |
308 |
1,166 |
854 |
| Chile |
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-75 |
-169 |
388 |
574 |
334 |
21 |
| Colombia |
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-300 |
-437 |
-88 |
-90 |
179 |
-18 |
| Other South/Central America |
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2,185 |
1,355 |
2,286 |
2,058 |
2,176 |
1,054 |
| OPEC |
|
-1,367 |
-2,865 |
211 |
-1,261 |
-1,417 |
625 |
| Indonesia |
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-1,151 |
-1,238 |
-990 |
-1,055 |
-1,198 |
-1,054 |
| Nigeria |
|
-489 |
-598 |
-290 |
-657 |
-668 |
-372 |
| Saudi Arabia |
|
-280 |
-683 |
-249 |
-171 |
338 |
601 |
| Venezuela |
|
-292 |
-496 |
-390 |
-621 |
-586 |
-723 |
| Other OPEC |
|
-307 |
-1,087 |
1,140 |
188 |
-500 |
1,120 |
| Africa |
|
-896 |
-1,554 |
-1,032 |
-1,216 |
-1,383 |
-1,155 |
| Algeria |
|
-279 |
-402 |
-210 |
-127 |
-154 |
-205 |
| Egypt |
|
278 |
251 |
254 |
132 |
183 |
106 |
| South Africa |
|
-172 |
-236 |
-336 |
-319 |
-253 |
-249 |
| Other Africa |
|
-724 |
-1,166 |
-740 |
-903 |
-1,158 |
-807 |
| Other Countries |
|
-6,578 |
-8,799 |
-6,857 |
-8,354 |
-9,366 |
-8,122 |
| India |
|
-1,677 |
-2,208 |
-1,265 |
-1,946 |
-2,419 |
-2,055 |
| Thailand |
|
-1,328 |
-1,615 |
-1,865 |
-1,801 |
-1,806 |
-1,505 |
| Other |
|
-3,572 |
-4,976 |
-3,727 |
-4,608 |
-5,141 |
-4,562 |
U.S. Imports by Major Category
( In millions $)
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Imports by Major Category
( In millions $) |
Feb. 2018
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Jan. 2018
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Dec. 2017
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Nov. 2017
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Oct. 2017
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Sep. 2017
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| Total |
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262,037 |
257,510 |
256,469 |
250,719 |
244,639 |
240,311 |
| Total Services |
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47,847 |
46,775 |
45,651 |
45,261 |
45,242 |
44,344 |
| Travel |
|
651 |
648 |
740 |
752 |
739 |
850 |
| Passenger Fares |
|
8,957 |
8,843 |
8,473 |
8,463 |
8,659 |
8,462 |
| Other Transportation |
|
11,268 |
11,518 |
11,731 |
11,439 |
11,322 |
11,005 |
| Royalties and License Fees |
|
4,323 |
4,305 |
4,148 |
4,131 |
4,114 |
4,089 |
| Other Private Services |
|
2,521 |
2,456 |
2,409 |
2,396 |
2,416 |
2,352 |
| Transfers Under U.S. Military
Sales Contracts |
|
5,235 |
4,247 |
4,377 |
4,324 |
4,272 |
4,184 |
| U.S. Government Misc.
Services |
|
3,535 |
3,512 |
3,412 |
3,404 |
3,386 |
3,419 |
| Total Goods
|
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214,190 |
210,735 |
210,818 |
205,458 |
199,397 |
195,967 |
| Foods, feeds, and beverages |
|
12,643 |
11,871 |
11,892 |
11,694 |
11,784 |
11,778 |
| Industrial supplies and materials |
|
48,091 |
47,275 |
45,308 |
45,001 |
42,805 |
41,108 |
| Capital goods, except automotive |
|
57,782 |
55,930 |
57,247 |
56,513 |
54,946 |
55,126 |
| Automotive vehicles, parts, and
engines |
|
31,088 |
30,913 |
30,916 |
29,913 |
29,567 |
29,483 |
| Consumer goods |
|
55,122 |
54,601 |
55,495 |
52,406 |
50,014 |
49,214 |
| Other goods |
|
7,822 |
8,343 |
8,405 |
8,495 |
8,868 |
7,736 |
Exports by Technology Group
( In millions $)
Exports by Technology Group
(
In millions $) |
Feb. 2018
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Jan. 2018
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Dec. 2017
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Nov. 2017
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Oct. 2017
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Sep. 2017
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| Total Technology Group |
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26,019 |
27,457 |
33,529 |
30,250 |
29,573 |
30,266 |
| Advanced Materials |
|
217 |
228 |
225 |
213 |
217 |
228 |
| Aerospace |
|
9,115 |
8,982 |
13,136 |
10,905 |
10,270 |
11,998 |
| Biotechnology |
|
1,441 |
1,957 |
1,351 |
1,574 |
1,648 |
1,217 |
| Electronics |
|
3,417 |
3,950 |
3,884 |
4,029 |
4,099 |
3,948 |
| Flexible Manufacturing |
|
1,642 |
1,686 |
2,306 |
1,483 |
1,534 |
1,535 |
| Information and Communications |
|
7,149 |
7,677 |
8,841 |
8,606 |
8,290 |
7,743 |
| Life Science |
|
2,371 |
2,297 |
2,775 |
2,577 |
2,534 |
2,528 |
| Nuclear Technology |
|
40 |
43 |
100 |
102 |
44 |
86 |
| Opto-Electronics |
|
428 |
346 |
455 |
385 |
398 |
429 |
| Weapons |
|
199 |
291 |
455 |
376 |
539 |
554 |
Annual Report on U.S. International Trade in Goods & Services
(In millions $)
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U.S. International Trade
in Goods & Services
(In millions $) |
2017
|
2016
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2015
|
2014
|
2013
|
2012
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| Total Trade Balance |
|
-566,031 |
-504,793 |
-531,503 |
-471,532 |
-471,532 |
-540,362 |
| Trade Balance of Goods |
|
-810,023 |
-752,507 |
-758,934 |
-703,159 |
-703,159 |
-735,702 |
| Trade Balance of Services |
|
243,993 |
247,714 |
227,431 |
231,627 |
231,627 |
195,341 |
| Total Exports |
|
2,329,311 |
2,208,072 |
2,230,317 |
2,272,320 |
2,272,320 |
2,195,925 |
| Exports of Goods |
|
1,551,434 |
1,455,704 |
1,513,888 |
1,590,350 |
1,590,350 |
1,563,578 |
| Exports of Services |
|
777,877 |
752,368 |
716,429 |
681,970 |
681,970 |
632,346 |
| Total Imports |
|
2,895,342 |
2,712,866 |
2,761,820 |
2,743,851 |
2,743,851 |
2,736,286 |
| Imports of Goods |
|
2,361,458 |
2,208,211 |
2,272,821 |
2,293,508 |
2,293,508 |
2,299,281 |
| Imports of Services |
|
533,884 |
504,654 |
488,999 |
450,343 |
450,343 |
437,005 |
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