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THURSDAY March 9, 2006 TRADE GAP WIDENS IN 2005 U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. goods and services deficit widened in 2005 (revised), according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased $106.0 billion from $617.6 billion in 2004 to $723.6 billion in 2005, as imports increased nearly twice as much as exports. As a percentage of U.S. gross domestic product, the goods and services deficit increased from 5.3 percent in 2004 to 5.8 percent in 2005. Balance on Goods and Services Trade [Annual] ($ in Billions) $0 -$100 -$200 -$300 -$400 -$500 -$600 -$700 -$800 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 Exports Exports of goods and services increased $120.8 billion in 2005 to $1,272.2 billion. Goods exports increased $85.1 billion and services exports increased $35.7 billion. The largest increases in goods exports were in capital goods, industrial supplies and materials, and consumer goods. The largest increases in services exports were in other private services, travel, and royalties and license fees. Imports Imports of goods and services increased $226.8 billion in 2005 to $1,995.8 billion. Goods imports increased $201.3 billion and services imports increased $25.5 billion. The largest increases in goods imports were in industrial supplies and materials, capital goods, and consumer goods. The largest increases in services imports were in other private services, other transportation, and travel. 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 to $41.8 billion, while imports increased $46.8 billion 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 to $186.3 billion, while imports increased $26.8 billion 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 to $55.4 billion, while imports increased $8.3 billion to $138.1 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 March 9 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: January 2006. The next release is April 12, 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