The following is the unedited transcript of the news release from The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce.


Goods and Services

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total April exports of $155.5 billion and imports of $216.4 billion resulted in a goods and services deficit of $60.9 billion, up from $56.5 billion in March, revised. April exports were $5.0 billion more than March exports of $150.6 billion. April imports were $9.4 billion more than March imports of $207.1 billion.

In April, the goods deficit increased $4.5 billion from March to $72.9 billion, and the services surplus increased $0.1 billion to $12.0 billion. Exports of goods increased $4.5 billion to $109.6 billion, and imports of goods increased $9.1 billion to $182.5 billion. Exports of services increased $0.4 billion to $46.0 billion, and imports of services increased $0.3 billion to $34.0 billion. In April, the goods and services deficit increased $0.6 billion from April 2007. Exports were up $25.0 billion, or 19.2 percent, and imports were up $25.7 billion, or 13.5 percent.

Goods

The March to April change in exports of goods reflected increases in capital goods ($2.2 billion); industrial supplies and materials ($1.1 billion); consumer goods ($0.8 billion); automotive vehicles, parts, and engines ($0.6 billion); and foods, feeds, and beverages ($0.1 billion). A decrease occurred in other goods ($0.1 billion).

The March to April change in imports of goods reflected increases in industrial supplies and materials ($5.6 billion); capital goods ($1.2 billion); automotive vehicles, parts, and engines ($1.0 billion); consumer goods ($0.7 billion); foods, feeds, and beverages ($0.3 billion); and other goods ($0.2 billion).

The April 2007 to April 2008 change in exports of goods reflected increases in industrial supplies and materials ($7.3 billion); capital goods ($5.1 billion); foods, feeds, and beverages ($3.2 billion); consumer goods ($1.5 billion); other goods ($0.5 billion); and automotive vehicles, parts, and engines ($0.2 billion).

The April 2007 to April 2008 change in imports of goods reflected increases in industrial supplies and materials ($16.6 billion); capital goods ($3.1 billion); consumer goods ($1.0 billion); other goods ($0.8 billion); and foods, feeds, and beverages ($0.8 billion). Automotive vehicles, parts, and engines were virtually unchanged.

Services

Services exports increased $0.4 billion from March to April. The increase was mostly accounted for by increases in other transportation (which includes freight and port services), transfers under U.S. military sales contracts, royalties and license fees, and travel. Changes in other categories of services exports were small.

Services imports increased $0.3 billion from March to April. The increase was mostly accounted for by increases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services), other transportation, and travel. Changes in other categories of services imports were small.

From April 2007 to April 2008, services exports increased $6.7 billion. The largest increases were in other private services ($2.7 billion), travel ($1.5 billion), and royalties and license fees ($1.1 billion). Within other private services, increases were largest in business, professional, and technical services and in financial services.

From April 2007 to April 2008, services imports increased $3.1 billion. The largest increases were in other private services ($1.3 billion) and travel ($0.7 billion). Within other private services, increases were largest in business, professional, and technical services and in insurance services.

Goods and Services Moving Average

For the three months ending in April, exports of goods and services averaged $153.2 billion, while imports of goods and services averaged $212.5 billion, resulting in an average trade deficit of $59.3 billion. For the three months ending in March, the average trade deficit was $58.3 billion, reflecting average exports of $151.4 billion and average imports of $209.7 billion.

Selected Not Seasonally Adjusted Goods Details

The April figures showed surpluses, in billions of dollars, with Hong Kong $1.4 ($1.2 for March), Singapore $1.4 ($1.5), Australia $0.8 ($1.5), and Egypt $0.3 ($0.4). Deficits were recorded, in billions of dollars, with China $20.2 ($16.1), OPEC $15.6 ($14.1), the European Union $8.5 ($7.5), Japan $7.6 ($7.5), Canada $7.6 ($6.4), Mexico $6.8 ($6.0), Nigeria $3.4 ($3.3), Venezuela $3.0 ($2.8), Korea $1.3 ($0.8), and Taiwan $0.9 ($0.3).

Advanced technology products (ATP) exports were $23.4 billion in April and imports were $28.7 billion, resulting in a deficit of $5.3 billion. April exports were $1.2 billion less than the $24.7 billion in March, while imports were $0.8 billion more than the $27.9 billion in March.