The following is the unedited transcript of the release from the U.S. Census Bureau

Goods and Services Deficit Increases in 2005

The Nation’s international deficit in goods and services increased to $725.8 billion in 2005 from $617.6 billion in 2004.
For December, the goods and services deficit increased to $65.7 billion from $64.7 billion (revised) in November. Exports increased $2.3 billion from November to $111.5 billion in December. Goods were $79.0 billion in December, up from $77.1 billion in November, and services were $32.5 billion in December, up from $32.0 billion in November. Imports increased $3.3 billion from November to $177.2 billion in December. Goods were $149.6 billion in December, up from $146.5 billion in November, and services were $27.6 billion in December, up from $27.4 billion in November.

Goods and Services

The goods and services deficit in 2005 was $725.8 billion, the highest on record. 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.
Exports increased $119.7 billion in 2005 to $1,271.1 billion. Goods were $892.5 billion and services were $378.6 billion.
Imports increased $227.8 billion in 2005 to $1,996.9 billion. Goods were $1,674.6 billion and services were $322.2 billion.
For goods, the deficit was $782.1 billion in 2005, the highest on record. For services, the surplus was $56.3 billion in 2005, up from $47.8 billion in 2004.

Goods by Category

For 2005, exports of goods were up $85.0 billion from 2004. The largest increases occurred in capital goods ($30.4 billion; primarily civilian aircraft, medicinal equipment, aircraft engines, materials handling equipment, excavating machinery, and aircraft parts); industrial supplies and materials ($27.8 billion); and consumer goods ($12.4 billion).
For 2005, imports of goods were up $201.7 billion from 2004. The largest increases occurred in industrial supplies and materials ($107.9 billion; primarily crude oil, petroleum products, fuel oil, and natural gas); capital goods ($36.1 billion); and consumer goods ($34.1 billion).

Services by Category

For 2005, exports of services were up $34.7 billion from 2004. The largest increases occurred in other private services ($10.0 billion); travel ($9.0 billion); royalties and license fees ($5.2 billion); and other transportation ($4.5 billion).
For 2005, imports of services were up $26.1 billion from 2004. The largest increases occurred in other private services ($9.9 billion); other transportation ($8.1 billion); and travel ($3.9 billion).

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 (primarily civilian aircraft, steelmaking materials, nonferrous metals, plastic materials, and semiconductors) to $41.8 billion, while imports increased $46.8 billion (primarily other household goods; computers; apparel; TV’s and VCR’s; and toys, games, and sporting goods) 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 (primarily civilian aircraft engines and medicinal equipment) to $186.3 billion, while imports increased $26.8 billion (primarily other petroleum products and pharmaceutical preparations) 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 (primarily civilian aircraft, medicinal equipment, and nonferrous metals) to $55.4 billion, while imports increased $8.3 billion (primarily passenger cars; toys, games, and sporting goods; and metalworking machine tools) to $138.1 billion.



Available at: http://www.census.gov/indicator/www/ustrade.html