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FRIDAY February 10, 2006 TRADE GAP WIDENS IN DECEMBER 2005 U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. monthly goods and services deficit widened in December 2005, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $64.7 billion in November (revised) to $65.7 billion in December, as imports increased more than exports. Balance on Goods and Services Trade [Monthly, seasonally adjusted] ($ in Billions) $0 -$10 -$20 -$30 -$40 -$50 -$60 -$70 -$80 1999 2000 2001 2002 2003 2004 2005 Exports Exports of goods and services increased $2.3 billion in December to $111.5 billion, mostly reflecting an increase in goods exports. Services exports also increased. The increase in goods exports was mostly accounted for by increases in consumer goods, industrial supplies and materials, and automotive vehicles, parts, and engines. The increase in services exports was mostly accounted for by increases in travel, transfers under U.S. military sales contracts, and other private services. Imports Imports of goods and services increased $3.3 billion in December to $177.2 billion, mostly reflecting an increase in goods imports. Services imports also increased. The increase in goods imports mostly reflected increases in consumer goods, capital goods, and automotive vehicles, parts, and engines. The increase in services imports was more than accounted for by increases in travel, passenger fares, and other private services. Goods by geographic area (not seasonally adjusted) The goods deficit with China decreased from $18.5 billion in November to $16.3 billion in December. Exports increased $0.3 billion to $4.2 billion, while imports decreased $1.9 billion to $20.5 billion. The goods deficit with the European Union decreased from $11.2 billion in November to $10.1 billion in December. Exports increased $0.2 billion to $16.4 billion, while imports decreased $0.9 billion to $26.5 billion. The goods deficit with Japan decreased from $7.3 billion in November to $6.8 billion in December. Exports increased $0.3 billion to $4.9 billion, while imports decreased $0.2 billion to $11.7 billion. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the February 10 press release issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, U.S. International Trade in Goods and Services: December 2005. The next release is March 9, 2006. Contacts: Services: Ralph Stewart 202-606-2649 Goods: Vanessa Ware 301-763-2311 Bureau of Economic Analysis, U.S. Department of Commerce U.S. Census Bureau, U.S. Department of Commerce
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