Statistics of United State Census Bureau
U.S. International Trade in Goods and Services Highlights
February 10, 2006
Goods and Services Deficit Increases in 2005
The Nation’s international deficit in goods and services increased to $725.8 billion in 2005 from $617.6 billion in 2004.
For December, the goods and services deficit increased to
$65.7 billion from $64.7 billion (revised) in November. Exports increased
$2.3 billion from November to $111.5 billion in December. Goods were $79.0
billion in December, up from $77.1 billion in November, and services were
$32.5 billion in December, up from $32.0 billion in November. Imports
increased $3.3 billion from November to $177.2 billion in December. Goods
were $149.6 billion in December, up from $146.5 billion in November, and
services were $27.6 billion in December, up from $27.4 billion in
November.
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Goods and Services
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The goods and services deficit in 2005 was $725.8 billion, the highest on record. As a percentage of U.S. gross domestic product, the goods and services deficit increased from 5.3 percent in 2004 to 5.8 percent in 2005.
- Exports increased $119.7 billion in 2005 to $1,271.1 billion. Goods
were $892.5 billion and services were $378.6 billion.
- Imports increased $227.8 billion in 2005 to $1,996.9 billion. Goods
were $1,674.6 billion and services were $322.2 billion.
- For goods, the deficit was $782.1 billion in 2005, the highest on record. For services, the surplus was $56.3 billion in 2005, up from $47.8 billion in 2004.
Goods by Category
- For 2005, exports of goods were up $85.0 billion from 2004. The
largest increases occurred in capital goods ($30.4 billion; primarily
civilian aircraft, medicinal equipment, aircraft engines, materials
handling equipment, excavating machinery, and aircraft parts);
industrial supplies and materials ($27.8 billion); and consumer goods
($12.4 billion).
- For 2005, imports of goods were up $201.7 billion from 2004. The largest increases occurred in industrial supplies and materials ($107.9 billion; primarily crude oil, petroleum products, fuel oil, and natural gas); capital goods ($36.1 billion); and consumer goods ($34.1 billion).
Services by Category
- For 2005, exports of services were up $34.7 billion from 2004. The
largest increases occurred in other private services ($10.0 billion);
travel ($9.0 billion); royalties and license fees ($5.2 billion); and
other transportation ($4.5 billion).
- For 2005, imports of services were up $26.1 billion from 2004. The largest increases occurred in other private services ($9.9 billion); other transportation ($8.1 billion); and travel ($3.9 billion).
Goods by Geographic Area (Not Seasonally Adjusted)
- The goods deficit with China increased from $161.9 billion in 2004
to $201.6 billion in 2005. Exports increased $7.1 billion (primarily
civilian aircraft, steelmaking materials, nonferrous metals, plastic
materials, and semiconductors) to $41.8 billion, while imports increased
$46.8 billion (primarily other household goods; computers; apparel; TV’s
and VCR’s; and toys, games, and sporting goods) to $243.5 billion.
- The goods deficit with the European Union increased from $109.3
billion in 2004 to $122.4 billion in 2005. Exports increased $13.7
billion (primarily civilian aircraft engines and medicinal equipment) to
$186.3 billion, while imports increased $26.8 billion (primarily other
petroleum products and pharmaceutical preparations) to $308.8
billion.
- The goods deficit with Japan increased from $75.6 billion in 2004 to $82.7 billion in 2005. Exports increased $1.2 billion (primarily civilian aircraft, medicinal equipment, and nonferrous metals) to $55.4 billion, while imports increased $8.3 billion (primarily passenger cars; toys, games, and sporting goods; and metalworking machine tools) to $138.1 billion.
This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release:
U.S.International Trade in Goods and Services: December 2005 .
This and more information is provided in the U.S. Census Bureau and U.S. Bureau of Economic Analysis press release, U.S. International Trade in Goods and Services: June 2005. For further information on goods, contact Vanessa Ware, Foreign Trade Division, U.S. Census Bureau, on (301) 763-2311; on services, contact Christopher Bach, U.S. Bureau of Economic Analysis, on (202) 606-9545.
NOTE: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the information section on page 26 of the FT-900 release, or at www.census.gov/ft900 or http://www.census.gov/indicator/www/www.bea.gov/bea/di/home/trade.htm.
The next release is Thursday, March 9, 2006
Note: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the Information Section (PDF, 53k) (TXT, 23k)
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