The following is the unedited transcript of the news release from the Census Bureau of the Bureau of Economic Analysis.


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 June exports of $164.4 billion and imports of $221.2 billion resulted in a goods and services deficit of $56.8 billion, down from $59.2 billion in May, revised. June exports were $6.4 billion more than May exports of $158.0 billion. June imports were $3.9 billion more than May imports of $217.2 billion.

In June, the goods deficit decreased $2.1 billion from May to $70.0 billion, and the services surplus increased $0.4 billion to $13.3 billion. Exports of goods increased $5.7 billion to $116.7 billion, and imports of goods increased $3.6 billion to $186.7 billion. Exports of services increased $0.7 billion to $47.7 billion, and imports of services increased $0.3 billion to $34.5 billion.


In June, the goods and services deficit decreased $2.4 billion from June 2007. Exports were up $28.7 billion, or 21.1 percent, and imports were up $26.3 billion, or 13.5 percent.

Goods

The May to June change in exports of goods reflected increases in industrial supplies and materials ($2.8 billion); capital goods ($1.2 billion); foods, feeds, and beverages ($0.9 billion); consumer goods ($0.7 billion); and automotive vehicles, parts, and engines ($0.6 billion). A decrease occurred in other goods ($0.2 billion).

The May to June change in imports of goods reflected increases in industrial supplies and materials ($5.6 billion); other goods ($0.1 billion); and automotive vehicles, parts, and engines ($0.1 billion). Decreases occurred in capital goods ($1.4 billion); consumer goods
($0.6 billion); and foods, feeds, and beverages ($0.1 billion).

The June 2007 to June 2008 change in exports of goods reflected increases in industrial supplies and materials ($10.0 billion); capital goods ($3.9 billion); foods, feeds, and beverages ($3.8 billion); consumer goods ($2.3 billion); automotive vehicles, parts, and engines ($0.8 billion); and other goods ($0.6 billion).

The June 2007 to June 2008 change in imports of goods reflected increases in industrial supplies and materials ($19.8 billion); consumer goods ($1.8 billion); capital goods ($1.2 billion); foods, feeds, and beverages ($0.7 billion); and other goods ($0.4 billion). A decrease occurred in automotive vehicles, parts, and engines ($0.9 billion).

Services

Services exports increased $0.7 billion from May to June. 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), royalties and license fees, passenger fares, and other transportation (which includes freight and port services).

Services imports increased $0.3 billion from May to June. The increase was mostly accounted for by increases in other private services and passenger fares. Changes in other categories of services imports were small.

From June 2007 to June 2008, services exports increased $6.8 billion. The largest increases were in other private services ($2.3 billion), travel ($1.7 billion), other transportation ($1.1 billion), and royalties and license fees ($1.0 billion). Within other private services, the largest increase was in business, professional, and technical services.

From June 2007 to June 2008, services imports increased $3.1 billion. The largest increases were in other private services ($1.2 billion), travel ($0.6 billion),and other transportation ($0.6 billion). Within other private services, the largest increases were in business, professional, and technical services and insurance services.

Goods and Services Moving Average

For the three months ending in June, exports of goods and services averaged $159.5 billion, while imports of goods and services averaged $218.4 billion, resulting in an average trade deficit of $58.8 billion. For the three months ending in May, the average trade deficit was $58.7 billion, reflecting average exports of $154.9 billion and average imports of $213.7 billion.

Selected Not Seasonally Adjusted Goods Details