The Goods and Services Deficit Decreased to $44.3 billion in December 2016

Posted on February 7, 2017 by jeffmchugh

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $44.3 billion in December, down $1.5 billion from $45.7 billion in November, revised. December exports were $190.7 billion, $5.0 billion more than November exports. December imports were $235.0 billion, $3.6 billion more than November imports.

The December decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.2 billion to $65.7 billion and an increase in the services surplus of $0.3 billion to $21.4 billion.

Annual Summary for 2016

For 2016, the goods and services deficit increased $1.9 billion, or 0.4 percent, from 2015. Exports decreased $51.7 billion or 2.3 percent. Imports decreased $49.9 billion or 1.8 percent.

For 2016, the goods and services deficit was $502.3 billion, up $1.9 billion from $500.4 billion in 2015. Exports were $2,209.4 billion in 2016, down $51.7 billion from 2015.  Imports were $2,711.7 billion in 2016, down $49.9 billion from 2015.

The 2016 increase in the goods and services deficit reflected a decrease in the goods deficit of $12.5 billion or 1.6 percent to $750.1 billion and a decrease in the services surplus of $14.4 billion or 5.5 percent to $247.8 billion.

Exports (Exhibits 3, 6, and 7 in the FT-900)

Exports of goods increased $4.8 billion to $126.9 billion in December.

Exports of goods on a Census basis increased $4.9 billion.

  • Capital goods increased $3.3 billion.
    • Civilian aircraft increased $1.0 billion.
    • Engines for civilian aircraft increased $1.0 billion.
  • Industrial supplies and materials increased $0.7 billion.
    • Natural gas increased $0.2 billion.
    • Fuel oil increased $0.2 billion.

Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.2 billion to $63.8 billion in December.

  • Transport, which includes freight and port services and passenger fares, increased $0.1 billion.
  • Travel (for all purposes including education) increased $0.1 billion.

Imports (Exhibits 4, 6, and 8 in the FT-900)

Imports of goods increased $3.6 billion to $192.6 billion in December.

Imports of goods on a Census basis increased $3.7 billion.

  • Automotive vehicles, parts, and engines increased $1.6 billion.
    • Passenger cars increased $1.4 billion.
  • Industrial supplies and materials increased $1.1 billion.
    • Natural gas increased $0.4 billion.
    • Fertilizers, pesticides, and insecticides increased $0.4 billion.
  • Capital goods increased $1.0 billion.

Net balance of payments adjustments decreased $0.1 billion.

Goods by Selected Countries and Areas: Census Basis (Exhibit 19)

The December figures show surpluses, in billions of dollars, with Hong Kong ($2.1), South and Central America ($1.0), Singapore ($0.9), Saudi Arabia ($0.4), and Brazil ($0.2). Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($12.9), Japan ($6.8), Germany ($5.2), Mexico ($4.6), Italy ($2.8), India ($2.0), South Korea ($1.8), Canada ($1.5), Taiwan ($1.0), OPEC ($1.0), France ($0.7), and United Kingdom ($0.2).

  • The deficit with Canada decreased $1.7 billion to $1.5 billion in December. Exports increased $1.0 billion to $22.4 billion and imports decreased $0.7 billion to $23.8 billion.
  • The deficit with Mexico decreased $1.2 billion to $4.6 billion in December. Exports increased $1.6 billion to $20.7 billion and imports increased $0.5 billion to $25.2 billion.

 

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

 

 

 

 

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The Goods and Services Deficit Increased to $45.2 billion in November 2016

Posted on January 6, 2017 by jeffmchugh

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $45.2 billion in November, up $2.9 billion from $42.4 billion in October, revised. November exports were $185.8 billion, $0.4 billion less than October exports. November imports were $231.1 billion, $2.4 billion more than October imports.

The November increase in the goods and services deficit reflected an increase in the goods deficit of $3.4 billion to $66.6 billion and an increase in the services surplus of $0.5 billion to $21.4 billion.

Year-to-date, the goods and services deficit decreased $4.9 billion, or 1.1 percent, from the same period in 2015. Exports decreased $56.6 billion or 2.7 percent. Imports decreased $61.4 billion or 2.4 percent.

Exports (Exhibits 3, 6, and 7 in the FT-900)

Exports of goods decreased $0.7 billion to $122.4 billion in November.

Exports of goods on a Census basis decreased $1.0 billion.

  • Capital goods decreased $1.8 billion.
    • Civilian aircraft decreased $1.3 billion.
  • Industrial supplies and materials increased $1.5 billion.

Net balance of payments adjustments increased $0.3 billion.

Exports of services increased $0.3 billion to $63.5 billion in November.

  • Financial services increased $0.2 billion.
  • Travel (for all purposes including education) increased $0.1 billion.

Imports (Exhibits 4, 6, and 8 in the FT-900)

Imports of goods increased $2.7 billion to $189.0 billion in November.

Imports of goods on a Census basis increased $2.5 billion.

  • Industrial supplies and materials increased $2.2 billion.
    • Crude oil increased $0.9 billion.

Net balance of payments adjustments increased $0.2 billion.

Imports of services decreased $0.3 billion to $42.1 billion in November.

  • Travel (for all purposes including education) decreased $0.2 billion.
  • Transport, which includes freight and port services and passenger fares, decreased $0.1 billion.

Goods by Selected Countries and Areas: Census Basis (Exhibit 19)

The November figures show surpluses, in billions of dollars, with Hong Kong ($2.5), South and Central America ($2.4), Singapore ($1.0), Brazil ($0.8), and United Kingdom ($0.1). Deficits were recorded, in billions of dollars, with China ($28.4), European Union ($13.8), Japan ($5.7), Mexico ($5.7), Germany ($5.3), Canada ($3.2), Italy ($2.2), South Korea ($2.2), OPEC ($1.9), India ($1.8), Taiwan ($1.3), France ($1.3), and Saudi Arabia ($0.2).

  • The deficit with Canada increased $1.5 billion to $3.2 billion in November. Exports decreased $0.7 billion to $21.3 billion and imports increased $0.9 billion to $24.5 billion.
  • The deficit with the European Union increased $0.9 billion to $13.8 billion in November. Exports decreased $1.3 billion to $21.0 billion and imports decreased $0.4 billion to $34.8 billion.
  • The surplus with Brazil increased $0.7 billion to $0.8 billion in November. Exports increased $0.7 billion to $3.2 billion and imports decreased less than $0.1 billion to $2.4 billion.

 

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

 

 

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Understanding Routed Export Transactions

Posted on December 22, 2016 by alexandergeorge

Written by: Heather Brown

Routed export transactions are a much discussed topic.  Therefore, we are revisiting this blog topic to give some helpful tips on remaining compliant if you’re involved in a routed export transaction. We’ll also take a look at an example.  For those not familiar with routed export transactions, it is when the Foreign Principal Party in Interest (FPPI) directs the movement of the goods out of the U.S. and authorizes a U.S. agent to file the Electronic Export Information (EEI) on their behalf.

Below are some helpful tips to keep in mind: 

Routed Export Transaction Example:

A U.S. Principal Party in Interest (USPPI) sells two paintings to a FPPI located in Italy.  Keep in mind, the USPPI is defined as the person or legal entity in the U.S. that receives the primary benefit, monetary or otherwise, from the transaction. The FPPI instructs the USPPI to send the paintings to an agent located in Florida.  The FPPI authorizes the agent to file the EEI in the AES on their behalf and ship the goods to Italy.  In this example, each party has important responsibilities that are outlined below.

FPPI

  • Provides the agent, who is authorized to file the EEI, with a power of attorney or written authorization, the authorization comes after the FPPI provides the POA or written authorization.

USPPI

  • Provides the agent with the data elements, such as Schedule B number, value, quantity, etc., specified in Section 30.3(e)(1) of the FTR.
  • Retains documentation to support the information provided to the authorized agent for five years from the date of export.
  • Requests a copy of the data elements that were filed in the AES and the power of attorney or written authorization.

Authorized Agent

  • Ensures that a power of attorney or written authorization is received from the FPPI.
  • Files the EEI in the AES.
  • Provides the Internal Transaction Number or exemption code if filing is not required to the carrier.
  • Retains documentation pertaining to the shipment for 5 years.
  • If requested, provides the USPPI with a copy of the USPPI data elements that were filed in the AES and the power of attorney or written authorization from the FPPI.For further questions, please contact the Trade Regulations Branch (TRB) at 1-800-549-0595, option 3 or email us at itmd.askregs@census.gov
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The Goods and Services Deficit Increased to $42.6 billion in October 2016

Posted on December 6, 2016 by jeffmchugh

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $42.6 billion in October, up $6.4 billion from $36.2 billion in September, revised. October exports were $186.4 billion, $3.4 billion less than September exports. October imports were $229.0 billion, $3.0 billion more than September imports.

The October increase in the goods and services deficit reflected an increase in the goods deficit of $6.3 billion to $63.4 billion and a decrease in the services surplus of $0.1 billion to $20.8 billion.

Year-to-date, the goods and services deficit decreased $8.8 billion, or 2.1 percent, from the same period in 2015. Exports decreased $58.7 billion or 3.1 percent. Imports decreased $67.5 billion or 2.9 percent.

ustrade

Exports (Exhibits 3, 6, and 7 in the FT-900)

Exports of goods decreased $3.5 billion to $123.1 billion in October.

Exports of goods on a Census basis decreased $3.2 billion.

  • Foods, feeds, and beverages decreased $1.4 billion.
    • Soybeans decreased $1.0 billion.
    • Corn decreased $0.5 billion.
  • Industrial supplies and materials decreased $1.0 billion.
    • Nonmonetary gold decreased $0.5 billion.
    • Fuel oil decreased $0.5 billion.
  • Consumer goods decreased $0.9 billion.

Net balance of payments adjustments decreased $0.3 billion.

 Exports of services increased $0.1 billion to $63.3 billion in October.

  • Transport, which includes freight and port services and passenger fares, increased $0.1 billion.

Imports (Exhibits 4, 6, and 8 in the FT-900)

Imports of goods increased $2.8 billion to $186.5 billion in October.

Imports of goods on a Census basis increased $2.7 billion.

  • Consumer goods increased $2.4 billion.
    • Pharmaceutical preparations increased $0.7 billion.
    • Cell phones and other household goods increased $0.4 billion.
  • Capital goods increased $1.1 billion.
    • Computer accessories increased $0.6 billion.
  • Automotive vehicles, parts, and engines decreased $0.7 billion.

Net balance of payments adjustments increased $0.1 billion.

Imports of services increased $0.2 billion to $42.4 billion in October.

  • Transport increased $0.2 billion.

Goods by Selected Countries and Areas: Census Basis (Exhibit 19)

The October figures show surpluses, in billions of dollars, with Hong Kong ($2.6), South and Central America ($1.8), Singapore ($1.3), Brazil ($0.1). Deficits were recorded, in billions of dollars, with China ($28.9), European Union ($12.9), Mexico ($5.8), Japan ($5.8), Germany ($4.7), India ($2.4), Italy ($2.2), OPEC ($2.1), Canada ($1.7), France ($1.6), South Korea ($1.4), Taiwan ($1.0), United Kingdom ($0.7), and Saudi Arabia ($0.2).

  • The deficit with China increased $2.0 billion to $28.9 billion in October. Exports increased $0.5 billion to $10.6 billion and imports increased $2.4 billion to $39.5 billion.
  • The balance with Canada shifted from a surplus of $0.2 billion in September to a deficit of $1.7 billion in October. Exports decreased $0.9 billion to $22.0 billion and imports increased $1.0 billion to $23.6 billion.
  • The balance with the United Kingdom shifted from a surplus of $0.9 billion in September to a deficit of $0.7 billion in October. Exports decreased $1.0 billion to $4.3 billion and imports increased $0.6 billion to $5.0 billion.

 

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

 

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The Liquid Joy of the American Economy

Posted on November 30, 2016 by erwinparson

 Written by: Steven Finkelstein 

As you sip your “Morning Joe,” “afternoon pick-me-up” or “rocket fuel,” think about where that java might have come from. In this blog, we will talk about the impact of this popular beverage on international trade.

Last year, the United States imported $5.9 billion in coffee and exported close to $1.0 billion. Brazil, Colombia, Vietnam, Guatemala and Canada were the top five countries importing coffee to the United States.

Because coffee comprises nearly $6.0 billion in imports, we took a magnifying glass to the trade data to find some recent trends. Brazil served as the leading source of coffee imports with $1.3 billion, accounting for 22.8 percent of the coffee import market. Of note, is the increase of coffee imports from Colombia. From 2010 to 2015, Colombia experienced an average annual increase of $67.7 million in coffee imports. This establishes Colombia as the largest expanding market over the past five years.

 

This blog provides a snapshot of how coffee impacts international trade. For more details, visit USA Trade Online today.

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Did You Know? Fall Edition

Posted on November 22, 2016 by U.S. Census Bureau

Written by: Erwin Parson, International Trade Management Division

The season is changing from the blazing hot days of summer to the cool afternoons of fall. The leaves are starting to turn vibrant oranges, reds and yellows and transform our landscape.

Harvested in October, pumpkins are traditionally associated with this time of year. Did you buy your pumpkin yet?

Did You Know?

  • There was about a 1,383 percent increase in exports of pumpkins, squash and gourds from the United States between 2012 and 2015.
  • In 2015, the United States exported approximately $49.0 million in pumpkins, squash and gourds to Canada.

These statistics come from USA Trade Online, a dynamic data tool provided by the U.S. Census Bureau that gives users access to current and cumulative U.S. export and import data.

This powerful software allows users to create customized reports and colorful charts detailing international trade data at different levels. All data are updated each month with the release of the latest U.S. International Trade in Goods and Services Report.

This data supports manufacturers and businesses wishing to expand their business globally, as well as economists in interpreting economic news and performing academic research, and governments and federal agencies in analyzing domestic and international trade policies.

For more information on U.S. Trade Statistics, visit <https://usatrade.census.gov>.

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The Goods and Services Deficit Decreased to $36.4 billion in September 2016

Posted on November 4, 2016 by jeffmchugh

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $36.4 billion in September, down $4.0 billion from $40.5 billion in August, revised. September exports were $189.2 billion, $1.0 billion more than August exports. September imports were $225.6 billion, $3.0 billion less than August imports.

ustrade

The September decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.6 billion to $57.5 billion and an increase in the services surplus of $1.4 billion to $21.1 billion.

Year-to-date, the goods and services deficit decreased $9.2 billion, or 2.5 percent, from the same period in 2015. Exports decreased $60.5 billion or 3.5 percent. Imports decreased $69.7 billion or 3.3 percent.

Exports (Exhibits 3, 6, and 7 in the FT-900)

Exports of goods increased $0.6 billion to $126.1 billion in September. 

Exports of goods on a Census basis increased $0.7 billion.

  • Capital goods increased $1.6 billion.
    • Civilian aircraft increased $1.4 billion.
  • Consumer goods increased $0.7 billion.
  • Artwork, antiques, stamps, and other collectibles increased $1.0 billion.
  • Foods, feeds, and beverages decreased $1.7 billion.
    • Soybeans decreased $2.0 billion.

Net balance of payments adjustments decreased $0.1 billion.

 Exports of services increased $0.4 billion to $63.1 billion in September.

  • Travel (for all purposes including education) increased $0.4 billion.

Imports (Exhibits 4, 6, and 8 in the FT-900)

Imports of goods decreased $2.0 billion to $183.7 billion in September.

Imports of goods on a Census basis increased $1.8 billion.

  • Capital goods decreased $1.7 billion.
  • Civilian aircraft decreased $0.5 billion.
  • Consumer goods decreased $0.8 billion.
    • Pharmaceutical preparations decreased $0.7 billion.
  • Automotive vehicles, parts, and engines increased $1.2 billion.
    • Passenger cars increased $1.1 billion.

Net balance of payments adjustments decreased $0.2 billion.

Imports of services decreased billion $1.0 to $42.0 billion in September.

  • Charges for the use of intellectual property decreased $1.2 billion. Charges for August included payments for the rights to broadcast the 2016 Summer Olympic Games.

Goods by Selected Countries and Areas: Census Basis (Exhibit 19)

The September figures show surpluses, in billions of dollars, with Hong Kong ($2.5), South and Central America ($1.8), United Kingdom ($0.9), Singapore ($0.7), and Brazil ($0.3). Deficits were recorded, in billions of dollars, with China ($26.9), European Union ($11.7), Japan ($5.4), Germany ($5.3), Mexico ($4.8), Italy ($2.8), India ($2.2), South Korea ($1.4), OPEC ($1.2), France ($0.8), Taiwan ($0.5), Canada ($0.4), and Saudi Arabia ($0.1).

  • The deficit with China decreased $2.2 billion to $26.9 billion in September. Exports increased $0.2 billion to $10.2 billion and imports decreased $2.1 billion to $37.1 billion.
  • The deficit with France decreased $1.2 billion to $0.8 billion in September. Exports increased $0.6 billion to $2.9 billion and imports decreased $0.6 billion to $3.7 billion.
  • The balance with Saudi Arabia shifted from a surplus of $0.8 billion in August to a deficit of $0.1 billion in September. Exports decreased $1.0 billion to $1.5 billion and imports decreased $0.1 billion to $1.6 billion.

 

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

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Annotating an Export Shipment: Filing Citations, Exemption and Exclusion Legends

Posted on October 13, 2016 by erwinparson

Written by: Charles Gamble

The U.S. Census Bureau often receives questions on how to annotate commercial documents for export shipments to minimize potential delays at the port of export. In a previous blog on Filing Citations and Exemption Legends, we provided an overview of filing citations and exemption legends. In this blog, I would like to expand upon the information previously provided. We will discuss the use of exclusion legends and give a snap shot of the different types of citations and legends that must be clearly stated on the commercial loading documents. 

Exclusion legends are used for shipments that fall outside the scope of the Foreign Trade Regulations (FTR). The types of shipments that are excluded from filing requirements are identified in Section 30.2(d) of the FTR.  It is important to remember that whether you are required to file the Electronic Export Information (EEI) or not, the correct annotation must be displayed on the commercial loading document or in a prominent location on the shipment package. Below is a snapshot describing the citations and legends that must be provided prior to exportation.    

Citations / Legends Description Annotation
Proof of Filing Citation Parties to the transaction file the EEI and receive their Internal Transaction Number (ITN) before the exportation of the shipment. Automated Export System (AES) ITN. Example: AES X20160523777777
Postdeparture Citation Postdeparture approved U.S. Principal Party in Interest (USPPI) have the privilege of filing  EEI within five days after exportation rather than obtaining the ITN in advance. USPPI Filed: AESPOST followed by the USPPI ID and followed by the DATE OF EXPORT. Example: AESPOST   123456789 05/23/2016 Agent Filed:   AESPOST followed by the USPPI ID – FILER ID and followed by the DATE OF EXPORT. Example:   AESPOST  123456789  – 987654321   05/23/2016
AES Downtime Filing Citation When the AES experiences a major failure, the AES Downtime Filing Citation is used in place of a proof of filing citation.  The downtime filing citation is not to be used when the filer’s system is down, experiencing delays or for shipments subject to the International Traffic in Arms Regulations. AESDOWN followed by the FILER ID and followed by DATE OF EXPORT. Example:   AESDOWN 123456789 05/23/2016
Exemption Legends These transactions are within the scope of the FTR, but certain details make them exempt from filing EEI in the AES. The exemptions are located in 30.36 – 30.40. Below are two of the most commonly used exemptions: Ø 30.36 – Exemption for shipments destined to Canada. Ø 30.37(a) – Exemption for shipments that are valued $2,500 or less per Schedule B. NO EEI followed by the corresponding   FTR Exemption. Example: NO EEI 30.37(a)
Exclusion Legends These transactions are outside the scope of the FTR and shall be excluded from filing EEI in the AES. Exclusions: Ø 30.2(d)(1) – Good transiting the U.S. under U.S. Customs and Border Protection bond from one foreign country to another. NO EEI followed by the corresponding FTR Exclusion. Example: NO EEI 30.2(d)(1)
  Ø 30.2(d)(2) – Except Puerto Rico and the U.S. Virgin Islands, goods shipped from the U.S. territories and goods shipped between the U.S. and these territories do not require EEI filing. Ø 30.2(d)(3) – Electronic transmissions and intangible transfers. Ø 30.2(d)(4) – Goods shipped to Guantanamo Bay Naval Base from the U.S., Puerto Rico, or the U.S. Virgin Islands and from Guantanamo Bay Naval Base to the U.S., Puerto Rico, or the U.S. Virgin Islands. Ø 30.2(d)(5) – Goods licensed by a federal agency where the country of ultimate destination is the U.S. or goods destined to international waters where the entity assuming control of the goods is a U.S. entity.  

I hope this information helps you present the correct citation, exclusion or exemption legend to the carrier for your next export shipment. Providing the correct citation or legend will help your shipments export in a timely fashion.

 

 

 

 

 

 

 

 

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The Goods and Services Deficit Increased to $40.7 billion in August 2016

Posted on October 5, 2016 by jeffmchugh

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $40.7 billion in August, up $1.2 billion from $39.5 billion in July, revised.  August exports were $187.9 billion, $1.5 billion more than July exports. August imports were $228.6 billion, $2.6 billion more than July imports.

The August increase in the goods and services deficit reflected a decrease in the goods deficit of less than $0.1 billion to $60.3 billion and a decrease in the services surplus of $1.2 billion to $19.6 billion.

ustrade

Year-to-date, the goods and services deficit decreased $4.3 billion, or 1.3 percent, from the same period in 2015. Exports decreased $62.4 billion or 4.1 percent. Imports decreased $66.8 billion or 3.6 percent.

Exports (Exhibits 3, 6, and 7 in the FT-900)

Exports of goods increased $1.2 billion to $125.3 billion in August.

Exports of goods on a Census basis increased $0.8 billion.

  • Industrial supplies and materials increased $1.4 billion.
    • Nonmonetary gold increased $0.9 billion.
  • Automotive vehicle, parts, and engines increased $0.4 billion.
  • Capital good decreased $0.7 billion.
    • Civilian aircraft decreased $0.8 billion.

Net balance of payments adjustments increased $0.4 billion.

 Exports of services increased $0.3 billion to $62.5 billion in August.

  • Travel (for all purposes including education) increased $0.2 billion.
  • Transport, which includes freight and port services and passenger fares, increased $0.1 billion.

Imports (Exhibits 4, 6, and 8 in the FT-900)

Imports of goods increased $1.1 billion to $185.6 billion in August.

Imports of goods on a Census basis increased $1.2 billion.

  • Capital goods increased $1.2 billion.
    • Civilian aircraft increased $0.6 billion.
  • Other goods increased $0.7 billion.
  • Industrial supplies and materials decreased $0.8 billion.
    • Nonmonetary gold decreased $1.4 billion.

Net balance of payments adjustments decreased less than $0.1 billion.

Imports of services increased $1.5 billion to $43.0 billion in August.

  • Charges for the use of intellectual property increased $1.2 billion. The increase reflects payments for the rights to broadcast the 2016 Summer Olympic Games.
  • Travel (for all purposes including education) increased $0.2 billion.

Goods by Selected Countries and Areas: Census Basis (Exhibit 19)

The August figures show surpluses, in billions of dollars, with Hong Kong ($2.4), South and Central America ($1.7), Saudi Arabia ($0.8), Singapore ($0.7), United Kingdom ($0.4), and Brazil ($0.2). Deficits were recorded, in billions of dollars, with China ($29.2), European Union ($12.3), Japan ($5.7), Germany ($5.3), Mexico ($5.2), South Korea ($2.5), Italy ($2.4), France ($2.0), India ($1.9), Taiwan ($1.5), Canada ($1.1), and OPEC ($0.3).

  • The surplus with Hong Kong increased $0.4 billion to $2.4 billion in August. Exports increased $0.4 billion to $3.0 billion and imports increased less than $0.1 billion to $0.7 billion.
  • The balance with Saudi Arabia shifted from a deficit of $0.2 billion to a surplus of $0.8 billion in August. Exports increased $1.3 billion to $2.5 billion and imports increased $0.4 billion to $1.7 billion.
  • The deficit with France increased $1.0 billion to $2.0 billion in August. Exports decreased $0.6 billion to $2.3 billion and imports increased $0.4 billion to $4.3 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.

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