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FRIDAY May 12, 2006 TRADE GAP NARROWS IN MARCH 2006 U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. monthly goods and services deficit narrowed in March 2006, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $65.6 billion (revised) in February to $62.0 billion in March, as exports increased and imports decreased. Balance on Goods and Services Trade [Monthly, seasonally adjusted] ($ in Billions) $0 -$10 -$20 -$30 -$40 -$50 -$60 -$70 -$80 1999 2000 2001 2002 2003 2004 2005 2006 Exports Exports of goods and services increased $2.1 billion in March to $114.7 billion, as both goods exports and services exports increased. The increase in goods exports mostly reflected increases in industrial supplies and materials and in capital goods. Automotive vehicles, parts, and engines decreased. The increase in services exports mostly reflected increases in other private services and in travel. Imports Imports of goods and services decreased $1.5 billion in March to $176.7 billion, as both goods imports and services imports decreased. The decrease in goods imports reflected decreases in industrial supplies and materials and in automotive vehicles, parts, and engines. Capital goods and consumer goods increased. The decrease in services imports reflected a decrease in royalties and license fees. Travel and other transportation increased. Goods by geographic area (not seasonally adjusted) The goods deficit with China increased from $13.8 billion in February to $15.6 billion in March. Exports increased $0.9 billion to $5.0 billion, while imports increased $2.6 billion to $20.5 billion. The goods deficit with the European Union increased from $8.3 billion in February to $10.1 billion in March. Exports increased $2.9 billion to $19.1 billion, while imports increased $4.8 billion to $29.2 billion. The goods deficit with Canada decreased from $7.2 billion in February to $5.4 billion in March. Exports increased $3.5 to $21.2 billion, while imports increased $1.7 billion to $26.5 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 May 12 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: March 2006. The next release is June 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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