Data users should use caution drawing comparisons between the two sets of seasonally adjusted series. Jointly produced with UNCTAD and ITC, it includes exports and imports of commercial services broken down by sector and partner country when available. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Thursday, September 3, 2020, Seasonal Adjustment by Selected Countries and Areas, Frequently Asked Questions. Postal and courier services and port services, which cover cargo handling, storage and warehousing, and other related transport services, are also included. US TRADE & SERVICES, INC. FLORIDA DOMESTIC PROFIT CORPORATION: WRITE REVIEW: Address: 2202 Venus Ave. Average imports increased $10.2 billion to $213.4 billion in July. Because the data series for aircraft is highly variable, users studying data trends may wish to analyze trade in aircraft separately from other trade. Import duties, freight, insurance, and other charges incurred in bringing merchandise to the United States are excluded. Insurance is measured as gross premiums earned plus premium supplements less claims payable, with an adjustment for claims volatility. Real exports of goods increased $13.1 billion to $133.7 billion. Imports of goods were revised down $0.2 billion. Transport - Consists of transactions associated with moving people and freight from one location to another and includes related supporting and auxiliary services. It is computed by adding import charges to the customs value and therefore excludes U.S. import duties. Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19). They include government and non-government shipments of goods and exclude shipments between the United States and its territories and possessions; transactions with U.S. military, diplomatic, and consular installations abroad; U.S. goods returned to the United States by its Armed Forces; personal and household effects of travelers; and in-transit shipments. Re-exports, which are included in overall export totals, appear as separate line items in exhibit 15. Personal, cultural, and recreational services - Consists of the following three subcategories: (1) audiovisual services, which covers production of audiovisual content, end-user rights to use audiovisual content, and outright sales and purchases of audiovisual originals; (2) artistic-related services, which includes the services provided by performing artists, authors, composers, and other visual artists; set, costume, and lighting design; presentation and promotion of performing arts and other live entertainment events; and fees to artists and athletes for performances, sporting events, and similar events; and (3) other personal, cultural, and recreational services, which includes services such as education services delivered online, remotely provided telemedicine services, and services associated with museum and other cultural, sporting gambling, and recreational activities, except those acquired by customers traveling outside their country of residence. Other business services - Consists of research and development services, professional and management consulting services, and technical, trade-related, and other business services. Transport covers all modes of transportation, including air, sea, rail, road, space, and pipeline. In the following month, this estimate is replaced, in the news release exhibits only, with the actual value of late receipts and corrections. Construction - Consists of the services provided to create, renovate, repair, or extend buildings, land improvements, and civil engineering constructions, such as roads and bridges. Technical, trade-related, and other business services include architectural and engineering, waste treatment, operational leasing, trade-related, and other business services. Imports of services were revised up $0.2 billion. Data users should use caution drawing comparisons between the two sets of seasonally adjusted series. The Regulatory Assessment on Services Trade and Investment (RASTI) toolkit offers a practical guide to assess the impact of services regulations. Deficits were recorded, in billions of dollars, with China ($28.3), European Union ($13.1), Mexico ($11.5), Japan ($3.4), Germany ($3.0), Taiwan ($2.8), France ($2.5), India ($2.0), Italy ($1.8), South Korea ($1.5), Singapore ($1.0), and Canada ($0.5). Trade in services (% of GDP) International Monetary Fund, Balance of Payments Statistics Yearbook and data files, and World Bank and OECD GDP estimates. The deficit with Mexico increased $2.5 billion to $11.5 billion in July. This method preserves the pattern of the monthly indicator series, if available, while satisfying the annual aggregation constraints. The July increase in the goods and services deficit reflected an increase in the goods deficit of $9.3 billion to $80.9 billion and a decrease in the services surplus of $0.8 billion to $17.4 billion. Euro Area: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain. The surplus with South and Central America increased $1.2 billion to $2.9 billion in July. FT900 US International Trade in Goods and Services. Premium supplements represent investment income from insurance reserves, which are attributed to policyholders who are treated as paying the income back to the insurer. [Excel] or the letters [xls] indicate a document is in … For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The code contains products whose technology is from a recognized high technology field (e.g., biotechnology). U.S. Census Bureau - Economic Indicators Division, International Trade, U.S. Census Bureau - Public Information Office, 4600 Silver Hill Road • Suitland, MD 20746, U.S. Trade in Goods and Services, 1960-present, U.S. Trade in Goods and Services by Selected Countries and Areas, 1999-present, Interactive Data: Trade in Goods and Services, BEA International Trade and Investment Country Facts, U.S. International Economic Accounts: Concepts and Methods, International Trade in Goods and Services. The use of Canada's import data to produce U.S. export data requires several alignments in order to compare the two series. Census Bureau's application programming interface (API): The Census Bureau's API, available at www.census.gov/developers/, lets developers create custom apps to reach new users and makes key demographic, socio-economic, and housing statistics more accessible than ever before. However, the data are still subject to several types of nonsampling errors. The timing adjustment shown in exhibit 14 is the difference between monthly data as originally reported and as recompiled. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $63.6 billion in July, up $10.1 billion from $53.5 billion in June, revised. With this release of the “U.S. Background: The United States produces roughly 30 percent of the world’s services, the largest portion in the world. Merchandise Trade Statistics: A Quality Profile, Advance Report Frequently Asked Questions, ITA Table 2.4. The repairs may be performed at the site of the repair facility or elsewhere. These activities include transport, tourism, financial services, use of intellectual property, telecommunications and information services, government services, maintenance, and other professional services from accounting to legal services. Services are seasonally adjusted when statistically significant seasonal patterns are present. Quarterly and annual statistics for goods on a BOP basis and for services are included in the U.S. international transactions accounts (ITAs), which are published by BEA in news releases in March, June, September, and December and in the Survey of Current Business in the January, April, July, and October issues. South/Central America: Anguilla, Antigua and Barbuda, Argentina, Aruba, Bahamas, Barbados, Belize, Bermuda, Bolivia, Brazil, British Virgin Islands, Cayman Islands, Chile, Colombia, Costa Rica, Cuba, Curacao, Dominica, Dominican Republic, Ecuador, El Salvador, Falkland Islands (Islas Malvinas), French Guiana, Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Jamaica, Martinique, Montserrat, Netherlands Antilles, Nicaragua, Panama, Paraguay, Peru, Sint Maarten, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, Uruguay, Venezuela. The United States generated a cross-border trade surplus in these industries of nearly $7.1 billion in 2012. Other revisions: For December and January statistical month releases, each prior month of the most recent full year is revised so that the totals of the seasonally adjusted months equal the annual totals. They include both additions to and deductions from goods on a Census basis and are presented in this release as net adjustments. Research and development services include services associated with basic and applied research and experimental development of new products and processes as well as outright sales of the outcomes of research and development (such as patents, copyrights, and information about industrial processes). Maintenance and repair of computers are included under computer services, and some maintenance and repair of ships, aircraft, and other transport equipment are included under transport. The deficit with China increased $21.4 billion to $75.8 billion in the second quarter. The total to be much larger, even twice as large, as mode 3 represents 55 per cent of total services trade (see Figure 2). Reducing barriers to trade in goods is one of the purposes of CETA, but the deal is also designed to liberalise trade in services such as transportation, insurance and communication. Net balance of payments adjustments increased $0.1 billion. Trade in services records the value of services exchanged between residents and non-residents of an economy, including services provided through foreign affiliates established abroad. The Harmonized System describes and measures the characteristics of the goods and is the basis for the systems used in the United States: Schedule B for exports and Harmonized Tariff Schedule for imports. The statistics provide detail on U.S. trade in services by type and by country and area and detail on services supplied through affiliates by industry and by country and area. Organization of Petroleum Exporting Countries (OPEC): Algeria, Angola, Congo (Brazzaville), Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, Venezuela. Year-to-date, the goods and services deficit increased $6.4 billion, or 1.8 percent, from the same period in 2019. Quality assurance procedures are performed at every stage of collection, processing, and tabulation. See the “Key Source Data and Assumptions” table that accompanies each GDP release for more information. Trade Balance. Government goods and services n.i.e. Manufactured goods conform to the NAICS; they consist of goods that have been mechanically, physically, or chemically transformed. Monthly report that provides national trade data including imports, exports, and balance of payments for goods and services. or use our feedback form! Contact the International Trade Macro Analysis Branch: Email us! This adjustment for price change is done using the Fisher chain-weighted methodology. These adjustments, which are applied separately to exports and imports, are necessary to supplement coverage of the Census data, to eliminate duplication of transactions recorded elsewhere in the international accounts, and to value transactions at market prices. USTR’s work to promote open and transparent services trade takes many forms, including through: • U.S. free trade agreements (Cross-Border Trade in Services and Financial Services chapters) • Covered Agreements relating to insurance and reinsurance (co-lead with U.S. Treasury Department) Charges for end-user rights to use general-use computer software and outright sales of customized computer software are included under computer services. These services do not include the value of the information transmitted. July exports were $168.1 billion, $12.6 billion more than June exports. The interactive figures focus on cross-border trade in services, which occurs when suppliers in one country sell services to consumers in another country, with people, information, or money crossing national boundaries in the process. Documents may be lost, and data may be incorrectly keyed, coded, or recorded. If you have questions or need additional information, please contact the Census Bureau, Economic Indicators Division, on (800) 549-0595, option 4, or at email@example.com.